Proparco has committed $17.25 million to the Alterra Africa Accelerator Fund, strengthening efforts to support growing businesses across the continent.
The fund, managed by Alterra Capital Partners, focuses on investing in profitable companies that are ready to expand. It mainly targets businesses in East and Southern Africa that provide essential goods and services to local markets.
Alterra works closely with company leaders to help them grow and improve operations. Its current portfolio includes firms such as Chill Beverages, Java House, ARP Africa Travel Group, and Cobra Group. These businesses operate across countries including South Africa, Kenya, Tanzania, Uganda, and Rwanda.
Together, the companies supported by the fund employ more than 4,000 people. Nearly half of these employees are women, and around 60 percent are under the age of 35.
Proparco said the investment aligns with its goal of supporting private sector growth in developing markets. The organisation focuses on three main areas: building strong economies, protecting the environment, and reducing inequality.
Tibor Asboth said the decision to invest was based on confidence in Alterra’s team, strategy, and understanding of African markets. He noted that the fund is well placed to support businesses that create jobs and improve access to important services.
Genevieve Sangudi welcomed the investment, describing it as a strong endorsement of the firm’s approach. She said Alterra is focused on backing companies that can grow with the right funding and support.
With the fund now fully closed, Alterra plans to continue investing in businesses that can scale and contribute to economic growth. Its strategy includes working closely with management teams, creating jobs, supporting skills development, and promoting women’s participation in the workforce.
The fund also places importance on environmental responsibility, including efforts to address climate change through sustainable business practices.
