North Africa: IFC to invest up to $20m in SPE Capital fund

Posted on: 13 April, 2020 at 1:06 PM

The IFC has revealed an investment of up to $20 million into the SPE AIF I private equity fund, managed by SPE Capital.

The fund will focus mainly on Egypt, Morocco and Tunisia, where access to equity is especially constrained because of the macro-economic and political challenges.

Nabil Triki, managing partner and CEO of SPE Capital said, “With IFC’s support, we hope to not only provide growth capital, but also industry and value-creation expertise. There is growing demand for such support because businesses are increasingly recognising the benefits of institutional ownership and professional management.”

The investment is part of IFC’s strategy to partner with selected fund managers in key regions to meet the needs of fast-growing companies, to help mobilise additional institutional capital in high growth sectors and ultimately strengthen capital markets.

“By backing an experienced fund manager focused on the MENA market, IFC’s support will help signal the continued viability of private equity in the region,” said Beatrice Maser, IFC’s regional director for MENA. “Greater access to such financing can help spur private sector development and job creation, which are both still much needed in the region.”

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