Marrakesh, Morocco, April 24, 2018—IFC,
a member of the World Bank Group, has become one of the largest development
institutions investing in private equity in Africa, with a current portfolio
of $1.7 billion.
The investments have been designed to support
job creation, improve infrastructure development, and increase cross-border
trade. They have been supporting 500 companies employing 140,000 people,
including over 30,000 women and helping them creating nearly 30,000 new
jobs Data as of December 31, 2015 across the continent.
IFC participated in the 15th annual conference
of the African Private Equity and Venture Capital Association (AVCA), taking
place this year on April 23 and 24 in the city of Marrakech, to actively
promote, develop, and stimulate private equity investment in Africa.
At this conference, Maria Kozloski, IFC Private
Equity Funds Global Head and Chief Investment Officer, gave a presentation
on the status, challenges, and future of private equity funds in Africa.
Jamal Isa, IFC Investment Officer, took part in an IFC-sponsored panel
focused on private equity in fragile and conflict-affected situations.
“IFC total portfolio comprises of over 300
funds globally and over $5.6 billion of committed capital,” said Kozloski.
“The larger part of it is invested in Sub-Saharan Africa, with 60 funds
representing over $1.3 billion in commitments.”
IFC invested in AfricInvest the first equity
fund in Morocco in 1998. Morocco is an increasingly attractive investment
destination and serves as a financial hub in the region. The country accounts
for the largest share of private equity investments in North Africa.
“Small businesses are the backbone of the
economy of emerging market countries,” said Xavier Reille, IFC Country
Manager for the Maghreb region. “Giving them access to alternate sources
of financing such as venture capital and private equity is critical for
their development, which in turn will lead to job creation and economic
Over the last 12 years, IFC has invested
$256 million in 17 private equity funds to support economic growth and
job creation in the MENA Region.
IFC—a sister organization of the World Bank
and member of the World Bank Group—is the largest global development institution
focused on the private sector in emerging markets. We work with more than
2,000 businesses worldwide, using our capital, expertise, and influence
to create markets and opportunities in the toughest areas of the world.
In FY17, we delivered a record $19.3 billion in long-term financing for
developing countries, leveraging the power of the private sector to help
end poverty and boost shared prosperity. For more information, visit www.ifc.org