2024-07-12 19:21:34
“In total, 46 applications were submitted, including 24 by local bidders, 17 by international bidders and 5 by mixed consortia. The proposals received cover a wide spectrum of sectors and themes, including industry, the promotion of small and medium-sized enterprises, agriculture, tourism and several other innovative themes,” said a press release from the Mohammed VI Investment Fund.
The large number and diversity of proposals received confirms the potential of the private equity industry in Morocco as a source of financing for businesses and demonstrates the support of management companies for the approach proposed by the Mohammed VI Fund.
While adopting the best standards of responsible investment, management companies will be called upon to provide Moroccan companies with the financing solutions necessary to strengthen their equity and enhance their capacity to invest, create sustainable jobs and develop in new geographic markets.
The Mohammed VI Fund’s stakes in thematic or sectoral funds will serve as leverage for management companies to mobilize national and international capital and will help to increase the economic and social impact of the private equity industry.
As a reminder, the deadline for submission of application files by bidders in response to the call for expressions of interest was set for July 13, 2023 at 11:59 p.m.
The applications received will be reviewed by the Fund through a robust multi-stage selection process including a pre-selection stage based in particular on the proposed investment strategy, the experience of the management team and the quality of performance achieved in the management of similar funds, a selection stage based on the ability of the pre-selected bidders to raise funds from other investors and a stage of negotiation of legal and contractual documentation.
2024-07-12 19:21:34