Moroccan private equity raised $175.3 mln in 2018
Wednesday, 17 April 2019 16:19
In Morocco, private equity firms raised a total of MAD1.681 billion ($175.3 million) in 2018, local media LeBoursier indicated quoting a report presented to the media on April 16 by the private equity firms’ association (association marocaine des investisseurs en capital-AMIC) and audit firm Fidaroc Grant Thornton.
Compared with the MAD1.318 billion raised in 2017, this represents a 27.5% rise. The transportation and services sector captured 26% of the said financing while the aviation, packaging and chemical industry got 17% of the funds. The construction, building and public works sector raised 15% of the resources.
Despite this increase, there are numerous problems in the sector. According to Adil Rzal (photo), president of the AMIC, the industry is dominated by foreign investors.
Indeed, those foreign investors represented 59% of the overall resources raised by private equity firms in 2018. In addition, high taxes affect Moroccan investors.
Chamberline Moko
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