The Meridian

Development finance institution

Proparco

Checked against official source Last checked 15 November 2026

The private-sector financing arm of France’s AFD Group, active across Africa, Asia, Latin America and the Middle East.

Africa mandate and approach

Provides loans, guarantees and equity to companies and financial institutions and invests in private equity and venture funds, with emphasis on renewable energy, infrastructure, agribusiness, finance, health and education.

Investment focus

Sectors
Financial servicesEnergy and powerInfrastructureAgriculture and foodHealthcareEducationManufacturing and industrialsTechnologyConsumerTelecoms and digital infrastructureSMEs
Stages and strategies
GrowthFund investmentsPrivate creditSeedSeries ASeries B+Pre-seedProject finance
Instruments
EquityDebtGuaranteesMezzanine
Regions
Africa-wide, Pan-African, Asia, Latin America, Middle East, Eurasia, Northern Africa, Eastern Africa, Western Africa, Central Africa, Southern Africa
African markets named in public materials
Cameroon, Egypt, Kenya, Morocco, Nigeria, South Africa, Tunisia

Funds managed

Fund commitments

Selected portfolio and direct investments

  • Africa Feed & Food
  • ANDA Angola (SU) Lda
  • ARC Ride Global Limited
  • Axian Energy, Yas Senegal
  • BasiGo Limited
  • BnB Transfer Corp.
  • Eden Care Healthcare (Rwanda) Ltd
  • ETC Group Limited
  • Farm to Feed Kenya Limited
  • Frogfoot Holdings (Pty) Ltd, Vox Telecommunications Holdings (Pty) Ltd
  • Gassi solar PV plant, Lamadji solar PV plant
  • Hypernova Company Limited
  • Littlefish App (Pty) Ltd
  • Mobile Consultation Africa Limited
  • Orchidia Pharmaceutical Industries S.A.E.
  • Rawbank S.A.
  • Société d'Exploitation du Transgabonais SA
  • Société Guinéenne de Produits Alimentaires (SOGUIPAL SA)
  • SONOCO SA
  • West Indian Ocean Cable Company Ltd

Recent investments and transactions

DateTransactionTypeValueMarket
9 Nov 2026Proparco invests EUR 600k in Cashi's operations in SudanVenture Capital$668,822Sudan
28 Oct 2026Proparco invests EUR 5 million in SOGUIPAL's operations in GuineaPrivate Credit$5.6mGuinea
29 Sep 2026Proparco invests EUR 150k in Farm to Feed's operations in KenyaPrivate Credit$170,590Kenya
25 Sep 2026Proparco and the African Development Bank (AfDB) invest EUR 30 million in the Gassi and Lamadji solar power plants in ChadPrivate Credit, Infrastructure & Project Finance$34.1m
8 Sep 2026Novastar Ventures, Norrsken22 and partners invest USD 33.3 million in ARC Ride's operations in sub-Saharan Africa and South AfricaVenture Capital$33.3mKenya
24 Aug 2026Frogfoot and Vox recapitalisation led by DNI Consortium and Metier InvestorsPrivate Equity, Corporate TransactionsUndisclosedSouth Africa
31 Jul 2026FMO, TDB Group and partners invest USD 600 million in Export Trading Group (ETG) AfricaPrivate Credit$600mMozambique
21 Jul 2026Proparco and IFC invest EUR 312 million in SETRAG for the Trans-Gabon Railway Modernisation Programme in GabonInfrastructure & Project Finance$356.2mGabon
26 Jun 2026Proparco invests in Anda's operations in AngolaPrivate EquityUndisclosedAngola
23 Jun 2026Proparco invests EURO 250k in EdenCare's operations in East AfricaPrivate Credit$285,682Rwanda
2 Jun 2026Proparco invests in Tibu Health's operations in KenyaPrivate CreditUndisclosedKenya
12 May 2026Proparco invests in Yas and AXIAN Energy's digital and energy transitions in Africa for EUR 300 millionInfrastructure & Project Finance$353.4mSenegal
11 May 2026Proparco's Investment in Cauridor's Operations for USD 2 millionVenture Capital$2mSierra Leone
25 Mar 2026RMBV and Proparco's Investment in Africa Feed & Food's Operations in Africa for MAD 850 millionPrivate Equity$94.3mMali
24 Mar 2026Partech, Proparco, TLcom Capital and Flourish Ventures' Investment in Littlefish's Operations in South Africa for USD 9.5 millionVenture Capital$9.5mSouth Africa

All transactions

Sources

  1. Proparco official website, www.proparco.fr. Accessed 14 November 2026.
  2. Partner Researchers, accessed 14 November 2026
  3. Partner Researchers, accessed 14 November 2026
  4. https://www.africainvestorreview.com/swedfund-commits-15-million-to-lightrock-africa-growth-fund-ii/, www.africainvestorreview.com. Accessed 14 November 2026.
  5. https://www.africaprivateequitynews.com/p/proparco-commits-to-capitalworks, www.africaprivateequitynews.com. Accessed 14 November 2026.
  6. https://www.africa50.com/media/news/article/africa50-secures-us50-million-in-investments-from-international-finance-institutions-to-boost-early-stage-investment-for-climate-resilient-projects-in-africa/, www.africa50.com. Accessed 14 November 2026.
  7. https://empowerafrica.com/proparco-commits-12-million-to-acumen-agriculture-fund-ii-to-back-climate-resilient-agribusinesses-across-africa/, empowerafrica.com. Accessed 14 November 2026.
  8. https://www.proparco.fr/en/news/proparco-invests-acre-export-finance-fund-i-scale-sustainable-infrastructure-africa, www.proparco.fr. Accessed 14 November 2026.
  9. https://techmoonshot.com/2026/04/23/proparco-puts-17-25m-into-alterra-africa-fund-at-final-close-completing-a-dfi-heavy-capital-stack/, techmoonshot.com. Accessed 14 November 2026.
  10. https://www.novastarventures.com/app/uploads/2026/05/FINAL1_Fund-III-Final-close.pdf, www.novastarventures.com. Accessed 14 November 2026.
  11. https://www.adenia.com/news/adenia-hits-180-million-hard-cap-at-first-close-for-entrepreneurial-fund-announces-first-investment/, www.adenia.com. Accessed 14 November 2026.
  12. https://empowerafrica.com/fsdai-allied-climate-partners-commit-50-million-to-african-transition-acceleration-fund/, empowerafrica.com. Accessed 14 November 2026.
  13. https://impact-investor.com/lendable-makes-combined-300m-first-close-for-two-blended-finance-funds/, impact-investor.com. Accessed 14 November 2026.
  14. https://amethis.com/en/amethis-and-edmond-de-rothschild-private-equity-announce-the-final-closing-of-amethis-fund-iii-in-line-with-its-target-at-eur-406m/, amethis.com. Accessed 14 November 2026.
  15. https://www.ietp.com/en/content/ip-completes-ipae3-first-closing, www.ietp.com. Accessed 14 November 2026.
  16. https://www.venturesplatform.com/stories/ventures-platform-secures-64m-first-close-for-pan-african-fund-ii-to-power-africas-next-tech-wave, www.venturesplatform.com. Accessed 14 November 2026.
  17. https://www.africinvest.com/images/doc/245_doc.pdf, www.africinvest.com. Accessed 14 November 2026.
  18. https://kiboinvest.com/news/equator-announces-final-close-of-55m-fund/, kiboinvest.com. Accessed 14 November 2026.
  19. https://loftyinc.vc/loftyinc-capital-announces-43m-first-close-of-its-new-pan-african-seed-fund/, loftyinc.vc. Accessed 14 November 2026.
  20. https://www.africaprivateequitynews.com/p/saviu-ventures-announces-second-close, www.africaprivateequitynews.com. Accessed 14 November 2026.
  21. https://www.proparco.fr/en/actualites/proparco-supports-mirova-launch-its-second-generation-fund-dedicated-sustainable-land, www.proparco.fr. Accessed 14 November 2026.
  22. https://www.proparco.fr/en/actualites/proparco-invests-eu10-million-africinvests-new-sme-fund-support-small-and-medium-sized, www.proparco.fr. Accessed 14 November 2026.
  23. https://blueearth.capital/news/blue-earth-capital-announces-first-close-of-its-dedicated-impact-secondaries-offering/, blueearth.capital. Accessed 14 November 2026.
  24. https://www.avca.africa/news-insights/member-news/joliba-capitals-maiden-fund-hits-eur-89mn/, www.avca.africa. Accessed 14 November 2026.
  25. https://www.metier.co.za/metier-announces-first-close-of-metier-capital-growth-fund-iii/media-release/, www.metier.co.za. Accessed 14 November 2026.
  26. https://alliance4e.org/projects/e3-low-carbon-economy-fund-i-lcef/, alliance4e.org. Accessed 14 November 2026.
  27. https://www.africinvest.com/news-and-media/news/french-african-fund-2-ffa-2-completes-final-close-at-over-50-m/#:~:text=French%2DAfrican%20Fund%202%20(FFA,at%20over%20%E2%82%AC50%20m, www.africinvest.com. Accessed 14 November 2026.
  28. https://echosys.co/first-closing-of-afrigreen-debt-impact-fund-slp/, echosys.co. Accessed 14 November 2026.
  29. https://techtrends.africa/global-vc-firm-partech-secures-largest-africa-focused-fund-at-263-million/, techtrends.africa. Accessed 14 November 2026; link checked 15 November 2026.
  30. https://www.businesswire.com/news/home/20230130005010/en/Adenia-Partners-Announces-%24300-Million-First-Close-for-Fund-V, www.businesswire.com. Accessed 14 November 2026.
  31. https://www.saltcapital.com/2022/12/16/salt-capital-reaches-first-close-of-its-new-africa-fund-with-strong-commercial-anchor-investor-support/, www.saltcapital.com. Accessed 14 November 2026; link checked 15 November 2026.
  32. https://www.globalprivatecapital.org/newsroom/incofin-investment-management-reaches-a-us71-million-first-close-for-agrif-fund-pan-emerging-marke/, www.globalprivatecapital.org. Accessed 14 November 2026.

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