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Supporting mid-market companies in Sub-Saharan Africa
Project
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Signature date
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Location
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Multi-country Global
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Financing tool
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Financing details
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USD 15m equity investment
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Customer
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Metier Capital Growth Fund III
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Type of customer
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Investment fund
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Country of headquarters
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Mauritius
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Project number
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PZZ1656
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Environmental and social ranking
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IF-B
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has invested in Metier Capital Growth Fund (MCGF) III, a generalist fund focused on high-growth sectors in Sub-Saharan Africa (consumer goods, health, telecoms, etc.).
Client presentation
Metier is a South African manager founded in 2004 by three partners. Metier’s team has been a key partner of Proparco for several years, as FISEA has been a subscriber to the Metier Capital Growth Fund II (MCGF) since 2016 (USD 10m subscribed as part of the “diversification” facility), and Proparco to the Sustainable Capital International Fund II since 2020 (USD 10m subscribed in a USD 156m fund). Metier and Proparco also co-invested in Africa Mobile Network in 2021.
Project description
Like its predecessor, Metier Capital Growth Fund (MCGF) III targets the mid-cap segment with an enterprise value ranging between USD 13m and USD 130m via majority or minority equity investments. It is a generalist fund focused on sectors likely to benefit from the many sources of growth in Sub-Saharan Africa (consumer products, health, telecoms, etc.).
Project impact
The main expected impacts of this project on development are as follows:
- Almost 4,900 jobs should be created and 4,600 maintained in the investee companies over the next 5 years
Through these impacts on development, this financing should contribute to SDG 8 (“Decent work and economic growth”).