EIB Global Backs RMBV North Africa Fund III To Boost Private Sector Growth In Egypt
The investment targets private sector growth in Egypt, with a focus on SMEs in consumer goods, healthcare, and education sectors.
The European Investment Bank (EIB), through its development arm EIB Global, has announced a US$80 million investment in RMBV North Africa Fund III, a move aimed at accelerating private sector growth and sustainability in Egypt as part of a broader North Africa regional strategy. (RMBV is an independent investment firm specializing in developing small and mid-sized enterprises into market leaders across Egypt and North Africa.)
The agreement was signed in Cairo in the presence of Egypt’s Minister of Planning, Economic Development and International Cooperation, HE Rania Al-Mashat, EIB Vice President Gelsomina Vigliotti, and RMBV Managing Partner Ahmed Badreldin.
The EIB’s commitment is expected to catalyze more than US$300 million in total investments across the fund’s lifecycle.
Managed by RMBV, the fund will focus on supporting small and mid-sized enterprises operating in high-impact sectors, including consumer goods and services, healthcare, and education. Beyond capital, RMBV will provide hands-on managerial and operational support to help portfolio companies scale, strengthen governance, and institutionalize their operations.
In a statement, Vigliotti said, “Given Egypt’s strategic importance in areas such as energy cooperation, migration, and shared economic interests, it is a key counterpart for the European Union and central to EIB Global’s strategy. In this context, private equity funds play a crucial role in supporting the private sector, while fostering a ‘win-win’ approach between the European Union and Egyptian private sector partners."
Al-Mashat added, “Today we are witnessing an important chapter in the strategic partnership between the Arab Republic of Egypt and the EIB. This reflects confidence in the Egyptian economy and affirms the state's direction towards maximizing the role of the private sector as a key partner in development. Through the partnership between the EIB and the investment fund RMBV North Africa Fund III, efforts are underway to support regional investments and enhance shared growth and economic integration between Egypt and Europe.”
Additionally, Badreldin stated, “We are delighted to welcome the European Investment Bank as an anchor investor in the Fund. The EIB’s support is a strong endorsement of our strategy and our track record, and it reinforces our shared commitment to backing high-quality businesses that contribute to sustainable growth, job creation and economic resilience across our target markets. Through our portfolio, we seek to foster a virtuous cycle of growth by strengthening local value chains while deepening commercial and industrial partnerships with European suppliers, technology providers and service companies.”
The initiative aligns with the European Union’s Global Gateway and Team Europe efforts, which aim to enhance sustainable investment, innovation, and inclusive growth in the region. In line with EIB Global’s inclusive investment strategy, the fund also plans to dedicate at least 30 percent of its portfolio to gender equality, supporting women-led businesses, promoting gender-responsive practices, and fostering inclusive employment opportunities.
Pictured in the lead image is the European Investment Bank's headquarters. Courtesy of EIB.
