Ashraf AboArafe
In a move underscoring the deepening economic partnership between Egypt and Europe, the European Investment Bank Global has announced its support for the North Africa Fund III, managed by RMBV, through an equity commitment of USD 80 million. This investment is expected to catalyze more than USD 300 million in total financing, as part of a broader regional strategy covering North Africa, with Egypt at its core.
The agreement was formally signed during a ceremony held in Cairo, in the presence of H.E. Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development and International Cooperation; Gelsomina Vigliotti, Vice-President of the European Investment Bank; and Ahmed Badr El Din, Managing Partner at RMBV.
The fund aims to provide both growth capital and hands-on managerial value to support the expansion and institutionalization of local private-sector companies across high-impact sectors, including consumer goods and services, healthcare, and education. In doing so, it seeks to unlock new growth horizons for Egypt while strengthening economic integration with European markets.
RMBV, a seasoned private equity firm with a strong track record in Egypt and North Africa, manages the fund. Through North Africa Fund III, the firm seeks to foster innovation and competitiveness among mid-sized enterprises, while reinforcing trade and industrial linkages between Egyptian companies and European Union economies.
Beyond capital injection, the initiative reflects the broader mission of the European Investment Bank Global to partner with local investment firms capable of playing a catalytic role in domestic capital markets. This includes advancing corporate governance standards, accelerating digital transformation, and promoting environmental and sustainability benchmarks.
Commenting on the agreement, Gelsomina Vigliotti emphasized Egypt’s strategic importance to Europe, citing cooperation in energy, migration, and shared economic interests. She noted that private equity funds play a pivotal role in empowering the private sector and advancing a “win-win” approach embraced by both the European Union and Egyptian private partners.
For her part, Minister Rania Al-Mashat described the investment as a significant milestone in the strategic partnership between Egypt and the European Investment Bank, reflecting growing confidence in the Egyptian economy. She reaffirmed the government’s commitment to expanding the role of the private sector as a central driver of development, while deepening economic integration with Europe.
Ahmed Badr El Din welcomed the European Investment Bank as a cornerstone investor in the fund, stating that the Bank’s support validates RMBV’s strategy and performance record. He highlighted the shared commitment to backing high-quality businesses that generate sustainable growth, create jobs, and enhance economic resilience by strengthening local value chains and forging durable partnerships with European suppliers, technology providers, and service companies.
This initiative forms part of the Global Gateway agenda and the broader Team Europe approach, aimed at promoting sustainable investment, innovation, and inclusive growth, while reinforcing regional stability under the EU’s extended neighborhood strategy.
Aligned with EIB Global’s inclusive investment framework, at least 30% of the fund’s portfolio will be dedicated to advancing gender equality. This includes supporting women-led businesses, encouraging gender-sensitive corporate practices, and expanding inclusive employment opportunities across targeted sectors. By embedding gender considerations into its investment strategy, the fund seeks to promote equitable growth and unlock the full potential of diverse talent pools across Egypt and North Africa.
Through this investment, European capital does more than cross borders—it builds development bridges, linking Egypt’s private-sector ambitions with a European vision grounded in partnership, sustainability, and shared prosperity.
