French development finance institution Proparco has signed a memorandum of understanding with pan-African conglomerate Atlantic Group to explore financing and operational support for projects spanning financial services, agribusiness, cement and mining across Africa.
The agreement, signed during the Africa Forward Summit in Nairobi on May 11-12, sets a framework for a long-term partnership between Proparco, the private-sector financing arm of Agence Française de Développement Group, and Atlantic Group.
Under the framework, Proparco may deploy financing instruments, guarantees and technical assistance to support projects led by Atlantic Group and its subsidiaries.
The proposed cooperation targets sectors tied to Africa’s real economy, including industrial activity, financial inclusion and job creation. Atlantic Group operates across several African markets, with businesses in financial services and industrial sectors.
“Proparco’s trust is a recognition of our commitment to developing our markets and promoting local expertise,” Atlantic Group CEO Abissa Kouakou said.
Proparco CEO Françoise Lombard said the partnership reflects the institution’s aim to support African groups with strong regional footprints and potential to deepen financial inclusion.
Financial terms were not disclosed. As an MoU, the agreement does not represent a confirmed financing transaction, but could pave the way for future funding, guarantees or technical assistance tied to Atlantic Group’s businesses.
The deal comes as development finance institutions increasingly work with regional private-sector groups to expand investment in African industries, improve access to finance and support economic transformation.