AfDB Invests $15m in Alterra Fund to Empower Businesses Across Africa
The African Development Bank Group has approved an equity investment of up to USD 15 million in the Alterra Africa Accelerator Fund to support high-growth enterprises across Africa.
The decision was made by the Bank’s Board of Directors as part of efforts to expand access to long-term financing for mid-sized companies with strong growth potential.
According to the Bank, the investment is expected to mobilise additional institutional capital and strengthen the Fund’s ability to scale businesses operating in key sectors such as telecommunications, healthcare, logistics, financial services and consumer goods.
The Alterra Africa Accelerator Fund targets companies driving innovation, regional expansion and job creation. It also includes gender and social inclusion measures aimed at increasing women’s participation in leadership and supporting women-led enterprises.
The Bank said the investment aligns with its strategic priorities of boosting economic growth, supporting Africa’s demographic transition and promoting climate-resilient development.
Alterra is an independent private equity platform formed after the spin-out of the Carlyle Africa team, with additional expertise from Emerging Capital Partners. The firm has a combined investment track record of over USD 2.2 billion across Africa.
