Tunis Equity Firm Seeks to Raise Sh22bn to Invest in Africa Banks

Tunis-based private equity fund AfricInvest is targeting to raise €200 million (Sh21.8 billion) through a new fund that will invest in Africa’s banks.

The PE firm, which invested in and exited Kenya’s Family Bank, says it has launched the AFSH fund to take advantage of growth opportunities on the continent.

“AfricInvest has begun fundraising for AFSH, its second generation financial sector private equity fund. Africa’s financial sector is undergoing a profound transformation, through the strategic expansion…, digitalisation, and entry of disruptors,” it said in a statement.