(Ecofin Agency) - The International Finance Corporation (IFC) is investing up to $20 million in SPE AIF I, a fund managed by private equity firm SPE Capital Partners which targets small- and mid-cap companies operating in North Africa, mainly in Egypt, Morocco, and Tunisia.

“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,” said Nabil Triki, Managing Partner and CEO of SPE Capital.

Before IFC’s financing, SPE AIF I received support from investors such as Proparco and the European Investment Bank. In FY2020, the IFC has so far committed nearly $40.5 million to private equity and venture capital funds with the objective of financing companies in the MENA zone.

Chamberline Moko