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    Reference: 20230132
    Release date: 30 November 2023

    Promoter – Financial Intermediary

    METIER CG III MAURITIUS GP

    Location

    Description

    The operation is an equity participation in Metier Capital Growth Fund III, a generalist closed-end fund providing equity capital to small and medium sized enterprises (SMEs) and mid-market growth companies active across Africa.

    Additionality and Impact

    The operations concerns an investment in Metier Capital Growth Fund III - a USD 200m fund, providing equity and quasi-equity financing to SMEs and Mid-Market companies in Sub-Saharan Africa.

    The proposal is in line with the Global Gateway priorities of supporting digitalisation and renewable energy across Africa. It also fits with the goals of the African Union's Agenda 2063 in supporting an inclusive growth and sustainable development, via economic resilience and diversification.

    The commitment of EIB into the Fund is expected to ensure that the Fund is able to reach its target size and to fully implement its investment strategy. The participation of EIB will ensure that the terms of the Fund are in line with best market practice.


    Objectives

    The fund will support companies with experienced management teams, stable market positioning and strong growth potential. The operation will contribute to the gender balance and social sustainability in Africa and will support the development of the private sector by increasing access to finance, reducing unemployment and attracting private and institutional investors to the region.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    USD 28 million (EUR 26 million)

    Total cost (Approximate amount)

    USD 200 million (EUR 186 million)

    Environmental aspects

    The fund will comply with the EIB's Environmental and Social policies.

    Procurement

    The fund will comply with the EIB's procurement policies.

    Status

    Signed - 21/06/2024

    Milestone
    Under appraisal
    Approved
    Signed
    6 February 2024
    21 June 2024

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Regional - Africa Services