Cape Town: In a significant boost to Africa’s burgeoning digital economy, EIB Global has announced a $75 million investment in Helios Fund V, a private equity fund focused on digitally driven businesses across the continent. The announcement, made at the Finance in Common Summit, underscores the growing confidence in Africa’s tech potential.
Helios Investment Partners, the fund manager, is a seasoned player in the African investment landscape, and their latest venture will target key sectors aligned with the EU-Africa Global Gateway Investment Package. These include digital infrastructure – the backbone of modern economies – financial services, and technology-enabled businesses spanning education, healthcare, and training.
Think data centres, fibre optic networks, cloud services, fintech solutions, and innovative healthcare tech. Helios Fund V aims to fuel the growth of these critical sectors, providing not just capital, but also the expertise and networks needed to scale.
“We are happy to be partnering with Helios,” stated EIB Vice-President Ambroise Fayolle, highlighting the firm’s two-decade track record and strong local presence. “We look forward to supporting them as they invest in market-leading, value-creating, and socially responsible enterprises.”
A notable aspect of this investment is the fund’s commitment to gender equality. Helios has pledged to invest at least 30% of its portfolio in companies that meet EIB’s gender criteria, demonstrating a commitment to inclusive growth. This includes initiatives like mentorship, capacity building, and encouraging women into leadership roles.
The investment is part of EIB Global’s broader strategy to mobilise private capital for development in Africa. Last year alone, the bank invested €232 million in African funds, clearly focusing on empowering local businesses.
David Masondo, South Africa’s Deputy Minister of Finance, welcomed the investment, emphasizing the role of private capital in unlocking Africa’s potential. “Private capital fuels growth and EIB Global’s investment in Helios V showcases innovative financing to unlock Africa’s potential,” he said.
This injection of capital into Africa’s digital ecosystem is expected to have a significant ripple effect, driving innovation, creating jobs, and fostering economic growth. It’s a clear signal that Africa’s tech sector is attracting serious attention from global investors and that the continent is poised to become a major player in the digital economy.
