Ethiopia: EIB backs private equity fund

The European Investment Bank (EIB) on 12 October said it would support private equity investment across Ethiopia with a $10m investment in the new $100m Cepheus Growth Capital Fund. The EIB said its participation represented its first backing for an Ethiopia-focused fund and one of the first engagements with a single country private equity fund in Africa. The investment was announced during a two-day visit to Addis Ababa by EIB vice-president Ambroise Fayolle.