AfDB and Italy’s CDP commit USD 35 mn to RMBV’s North Africa Fund III

The African Development Bank (AfDB) approved a USD 15 mn equity investment in RMBV North Africa Fund III (NAF), alongside a USD 20 mn commitment from Italy’s Cassa Depositi e Prestiti (CDP), AfDB said in a statement. Disbursed through the Growth and Resilience Platform for Africa — a co-investment vehicle tied to Italy’s Mattei Plan for Africa — the funding pushes total commitments for the private equity vehicle to approximately USD 270 mn. The fresh investment brings the consumer, healthcare, financial services, and education-focused fund closer to a final close of up to USD 300-400 mn by 4Q 2026.

Regional footprint: The mid-market growth fund targets investments across Egypt, Morocco, Tunisia, and Algeria, pairing institutional growth capital with operational and managerial oversight.

REMEMBER- RMBV holds high-profile active stakes in healthcare player Cleopatra Hospitals Group and higher education platform Taaleem, and has also reshaped its legacy retail holdings. Although the firm previously exited its position in Spinneys Egypt, it deployed NAF III in late 2025 to reacquire 100% of the supermarket chain in an EGP 2.5 bn transaction. At the same time, the private equity firm is preparing for an alternative capital market exit route, having filed with the Financial Regulatory Authority to establish a special purpose acquisition company (SPAC) on the EGX later this year.

Target eyes collections

Target Holding is awaiting Financial Regulatory Authority (FRA) approval to move ahead with its planned acquisition of debt collector Taswia, Chairman Nour El Din Mohamed told Al Mal. Taswia is a debt-collection company with EGP 10 mn in stated capital. The agreement is intended to support Target’s expansion into non-bank financial institutions (NBFIs). The transaction value and the stake being acquired have not been disclosed.

Debt collection is in the middle of a regulatory reset. The FRA’s new registry requires collectors working with NBFIs to meet minimum capital, governance, and operating requirements, with NBFIs barred from using unregistered collectors after 22 January 2027. Around 71 collection companies had challenged the regulator’s authority over the sector last month.

The register is starting to fill up: The FRA registered its third collection company last week, with more than 30 applications still under review. The new capital and equity thresholds could also push smaller agencies toward consolidation, giving the Target-Taswia agreement more market-structure relevance than a standalone bolt-on acquisition.

Faster paper trail

The Labor Ministry is finalizing a unified digital system to manage foreign work permits, the ministry said in a statement. The platform, developed by government services company Tarabot, will digitize the entire permit lifecycle — from company registration and approval to review, permit issuance, and public verification — into a single electronic system, replacing the current multi-step, multi-office process.

Other news on our radar:

• Qasatli Mortgage Finance signed an undisclosed credit facility with the National Bank of Egypt as it looks to build a financing portfolio of at least EGP 2.5 bn over the coming three years. The mortgage lender plans to use the facility to expand mortgage lending and grow its customer base. (Statement, pdf)
• Egypt’s long-awaited Tour4Cure medical-tourism platform is finally live. The government is targeting African, Gulf, and European markets and eventually plans to work with international ins.’ers. (Al Mal)
• The National Navigation Company (NNC) received two new dry bulk carriers, Wadi Al Nil and Wadi Al Qamar, from China’s New Hantong Shipyard. The Kamsarmax-class vessels bring NNC’s active fleet to 16 ships and are part of a five-vessel build program with New Hantong that began with Wadi Al Arish’s delivery in January 2024. (Statement)

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