IFC invests in fund focused on Egypt, other countries

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ArabFinance: The International Finance Corporation (IFC) is investing up to USD 20 million into a private equity fund focusing mainly on Egypt, Morocco, and Tunisia, according to an April 12^th press release.

The fund, or SPE AIF I, aims to help small and mid-cap companies in the region “improve their access to institutional capital and boost growth,” IFC noted.

Access to the fund, which is managed by SPE Capital Partners, will be constrained because of the macro-economic and political challenges.

Nabil Triki, managing partner and CEO of SPE Capital noted, “With IFC’s support, we hope to not only provide growth capital, but also industry and value-creation expertise, which are all currently limited in MENA with focus on North Africa."

In February, IFC, a member of the World Bank Group, announced it will be a lead arranger that provides an Islamic financing package of USD 125 million to aid the expansion of health services and develop medical care in Morocco and Egypt.

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