Italy’s national promotional institution, Cassa Depositi e Prestiti (CDP), and the African Development Bank Group (AfDB) have announced plans to jointly invest up to €400 million to support the expansion of Africa’s private sector and accelerate economic growth across the continent.
The initiative will see both institutions contribute up to €200 million each over the next five years, channeling funds into private equity and venture capital funds operating in Africa. The investment is expected to target key sectors including food security, small and medium-sized enterprise (SME) development, and sustainable infrastructure.
The funding will be implemented through the Growth and Resilience Platform for Africa (GRAf), a co-investment platform designed to support private sector initiatives and create a stronger pipeline of investment opportunities across the continent. The platform also aims to mobilize an additional €350 million from other investors, potentially bringing the total pool of capital to about €750 million.
According to both institutions, the collaboration seeks to strengthen Africa’s economic resilience by backing businesses that drive job creation, innovation, and sustainable development. The initiative is also intended to enhance cooperation among financial institutions, governments, and private investors interested in Africa’s growing markets.
The investment forms part of Italy’s broader engagement strategy with Africa under the Mattei Plan for Africa, which aims to deepen economic partnerships, support development projects, and promote mutually beneficial investment opportunities between Italy and African countries.
Development experts say strengthening the private sector is essential for Africa’s long-term growth, as it plays a critical role in generating employment, expanding local industries, and improving access to essential goods and services.
With Africa’s population and consumer markets continuing to grow rapidly, initiatives like the CDP–AfDB partnership are expected to help unlock new investment opportunities while supporting sustainable and inclusive economic development across the continent.
