Private Equity North Africa
New Opportunities for Private Equity in North Africa
The demand for outside capital is largely a result of incentives for businesses located in North African nations including Tunisia, Morrocco and Egypt. The region is becoming a more attractive destination for companies because of tax breaks, cut price land deals and new free trade zones. Unfortunately, these pro-business reforms have come at a time when few private equity firms are interested in new ventures.
"There is lack of funding for these relocations, yet people want to do it more and more. It's a paradox," said Dekli. Delegates at the Euromed Capital Forum said the global downturn had not interrupted a trend for north African family-run firms to seek foreign expertise and capital to grow.
Algeria, seen as tough for foreign investors outside the dominant energy sector, announced its first capital development fund set up by bank BEA in cooperation with Portugal's Banco Espirito Santo and French capital investment group Siparex.
Barriers to trade and investment across the region have stymied economic integration -- political tensions have shut the border between Morocco and Algeria for more than a decade. Yet some firms backed by venture capital are starting to expand across the region...Private equity is hoping for a growing role in state-led projects for roads, railways, ports, health and education.
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