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EG Capital on Thursday said the Prosper Africa Catalytic Investment Facility, with additional funding from USAID in East Africa and Zambia, has joined as a new partner in the EG-Economic Empowerment Fund. This collaboration underscores EG Capital’s steadfast commitment to fostering economic growth and sustainable development in East Africa and Zambia.
The EG-Economic Empowerment Fund, with a target of US$100 million in commitments, boasts a diverse pool of capital, including substantial contributions from institutional investors such as family offices, pension funds, banks, and sovereign wealth funds, as well as local African institutional investors.
The alignment of EG Capital’s efforts with the Prosper Africa Catalytic Investment Facility, which provides financing to African asset managers and financial vehicles that have a pipeline of growth-oriented businesses, signifies a momentous step forward in catalyzing greater investment in African entrepreneurs and small businesses. The partnership with Prosper Africa and USAID in the EG-Economic Empowerment Fund demonstrates a shared dedication to empowering medium-sized businesses across pivotal sectors in food, climate, health and education.
Speaking on the new partnership, Sandrine Henton Managing Director at EG Capital said, “We are actively pursuing collaborations with top-tier sponsors to invest in fast-growing and innovative businesses in food, climate, health and education sectors across East Africa and Zambia.
“Our enthusiasm knows no bounds as we expand our existing partnerships and forge new connections with investors who share our vision, aiming to achieve not only compelling financial returns but also tangible, positive transformation in these resilient, high-growth sectors. We are firm believers that investing at the intersection of gender empowerment and climate action holds the key to unlocking additional value, especially in benefitting the lives of women and youth.”
EG Capital’s comprehensive approach, characterized by private equity investments, cross-sector collaboration, and partnerships with initiatives such as the Prosper Africa Catalytic Investment Facility, exemplifies a visionary strategy aimed at championing sustainable economic development, gender parity, and resilience in East Africa and Zambia.
EG Capital:
EG Capital is a leading investment firm dedicated to propelling economic empowerment and sustainable growth in East Africa and Zambia. Through private equity investments in strategic sectors and pioneering partnerships, EG Capital aims to drive positive social and economic change.
Prosper Africa Catalytic Investment Facility:
The Prosper Africa Catalytic Investment Facility provides financing to African asset managers and financial vehicles that have a pipeline of growth-oriented businesses. The investment facility was first announced at President Biden’s U.S.-Africa Leaders Summit in December 2022. Prosper Africa made a catalytic investment of $6 million in the investment fund as part of a package of $15.7 billion in two-way trade and investment commitments that were made at the Summit.
