# African Development Bank

> African Development Bank is a VC fund backing Financial Services and Banking. See 94 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Belvédère, Tunisia
- Total investments: 94
- Last investment: Jul 2026
- Lead investor: 88%
- Fund size: $58M
- Last fund: Sep 2018
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/company/african-development-bank
- X (Twitter): http://twitter.com/AfDB_Group
- Website: http://www.afdb.org
- Facebook: http://www.facebook.com/AfDBGroup

African Development Bank is a VC fund in Belvédère focused on Financial Services and Banking. African Development Bank operates as a multilateral development finance institution in Africa. It finances development projects and programs in collaboration with national and international development institutions. The bank provides technical assistance for project selection, study, and preparation. It facilitates investments from the public andprivate sectors in initiatives aimed at economic and social progress. The African Development Bank serves the development finance and economic growth sectors.

## Contacts

5 contacts available for African Development Bank. Shizune tracks 8 team members at African Development Bank. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/african-development-bank?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Grant | $200k–$17M |
| Post-IPO Debt | $35M–$692M |
| Debt Financing | $15M–$500M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Financial Services | 32 | 34% |
| Banking | 21 | 22% |
| Finance | 12 | 13% |
| Energy | 8 | 9% |
| Agriculture | 7 | 7% |

91 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Debt Financing | 41 | 44% |
| Grant | 18 | 19% |
| Post-IPO Debt | 9 | 10% |
| Funding Round | 6 | 6% |
| Seed | 2 | 2% |

9 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Nigeria | 10 | 11% |
| South Africa | 10 | 11% |
| Kenya | 9 | 10% |
| Ethiopia | 4 | 4% |
| United Kingdom | 4 | 4% |

29 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Ahmed Attout | Director | 1 | https://shizune.co/investors/profile/ahmed-attout-de13 |
| Djibril Koné | PMO | 0 | https://shizune.co/investors/profile/djibril-kone |
| Dr. Beth Dunford | Vice President, Agriculture, Human and Social Development | 0 | https://shizune.co/investors/profile/dr-beth-dunford |
| Martin Fregene | Director of Agriculture and Agro-Industry | 0 | https://shizune.co/investors/profile/martin-fregene-85fd |
| Nicholas Williams | Head, ICT Division | 1 | https://shizune.co/investors/profile/nicholas-williams |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Standard Bank Group | Standard Bank has a 150 year history in South Africa and started building a franchise in the Rest of Africa in the early 1990s. We currently operate in 18 countries on the African continent, including South Africa, as well as in other selected emerging markets. | $332M | Post-IPO Debt | Jul 31, 2026 |  |
| Standard Bank Group | Standard Bank has a 150 year history in South Africa and started building a franchise in the Rest of Africa in the early 1990s. We currently operate in 18 countries on the African continent, including South Africa, as well as in other selected emerging markets. | $1M | Grant | Jul 31, 2026 |  |
| Gotion Power Morocco | Gotion Power Morocco operates as an industrial-scale manufacturing concessionaire specializing in the production of advanced lithium iron phosphate (LFP) battery cells and power packs. The company’s core business model revolves around developing an integrated cathode-to-cell automotive industrial ecosystem powered primarily by renewable energygrids. Its value proposition centers on delivering localized, high-performance battery storage and electric mobility technologies that strategically bridge supply chains for European automakers and emerging global clean energy markets. | $113.8M | Debt Financing | Jul 24, 2026 |  |
| Fonds d'Équipement Communal | The Fonds d'Équipement Communal (FEC) is a state-owned public development bank dedicated entirely to financing local and territorial government infrastructure. | $171.1M | Debt Financing | Jul 22, 2026 |  |
| Tamwilcom | TAMWILCOM represents the sole intervenor of the state in matters of public guarantee of financing. | $2.5M | Grant | Jun 22, 2026 |  |
| ECOWAS Bank for Investment and Development (EBID) | The ECOWAS Bank for Investment and Development (EBID) has metamorphosed into a fully-fledged development finance institution (DFI) over the years. As a major regional DFI, the Bank, for over forty years, has focused on helping Member States to meet infrastructural, social and institutional challenges in the ECOWAS sub-region, through financingprojects under its private and public sector windows | $70M | Debt Financing | Jun 17, 2026 |  |
| ECOWAS Bank for Investment and Development (EBID) | The ECOWAS Bank for Investment and Development (EBID) has metamorphosed into a fully-fledged development finance institution (DFI) over the years. As a major regional DFI, the Bank, for over forty years, has focused on helping Member States to meet infrastructural, social and institutional challenges in the ECOWAS sub-region, through financingprojects under its private and public sector windows | $30M | Private Equity | Jun 17, 2026 |  |
| African Trade & Investment Development Insurance | African Trade & Investment Development Insurance is a multilateral political risk and credit insurer (rated A/Stable S&P and A3/Stable Moody's). ATI currently counts 16 African nations and 10 institutional members as shareholders. Established by treaty in 2001, ATI supports trade and investment in African member statenations by providing comprehensive risk solutions such as political risk and credit insurance products. | $125M |  | May 22, 2026 |  |
| Bank of Industry Limited | Bank of Industry Limited is Nigeria's most successful development financing institution, providing support to Nigeria's industrial sector. | $199.9M | Debt Financing | May 19, 2026 |  |
| Electricity Generation Company (Malawi) | Electricity generation company (Malawi) limited (EGENCO) is a company that generates electricity in Malawi. The Company also operates thermal and solar power plants. | $23.5M | Grant | Mar 17, 2026 |  |

10 of 94 investments shown.

## Co-investors
- [European Bank for Reconstruction and Development](https://shizune.co/investors/profile/european-bank-for-reconstruction-and-development-ebrd) — VC Fund, 4 deals together
- [International Finance Corporation](https://shizune.co/investors/profile/international-finance-corporation) — VC Fund, 4 deals together
- [British International Investment](https://shizune.co/investors/profile/british-international-investment) — VC Fund, 3 deals together
- [British International Investment](https://shizune.co/investors/profile/cdc-group) — VC Fund, 3 deals together
- [KFW DEG](https://shizune.co/investors/profile/kfw-deg) — VC Fund, 3 deals together
- [OPEC Fund](https://shizune.co/investors/profile/opec-fund-for-international-development-ofid) — VC Fund, 3 deals together

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## FAQ

### What does African Development Bank invest in?

African Development Bank invests primarily in Financial Services, Banking and Finance startups, most often at Debt Financing and Grant stage. Most of the 94 investments tracked by Shizune back companies in Nigeria. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is African Development Bank's check size?

African Development Bank typically joins rounds of $200k–$17M at Grant, $35M–$692M at Post-IPO Debt and $15M–$500M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds African Development Bank participates in.

### How do I contact African Development Bank?

Public channels for African Development Bank include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at African Development Bank?

The team at African Development Bank includes Ahmed Attout (Director), Djibril Koné (PMO) and Dr. Beth Dunford (Vice President, Agriculture, Human and Social Development), among 8 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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