Proparco and Africa50 announce major African investment initiatives

French development finance institution Proparco has committed $15 million to Capitalworks IV, a private equity fund targeting $350 million to invest in mid-sized South African businesses. Managed by Capitalworks, the fund aims to provide equity capital to companies with growth potential in sectors such as consumer goods, industrial services, logistics, retail, and hospitality. Proparco expects the investment to support the creation of more than 2,150 jobs.

Separately, Morocco-based infrastructure fund Africa50 aims to more than double the value of its backed projects to at least $20 billion over the next five years. Having co-invested in 36 projects worth approximately $9 billion to date, the fund plans to focus on sectors with significant funding gaps, particularly power generation and transmission. Africa50 currently operates across several nations, including Nigeria, Egypt, Cameroon, Madagascar, and Rwanda.