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Middle East & North Africa

Please find below a sampling of some of the latest EMPEA statistics, programs and content covering information on the MENA region. For a more comprehensive listing, please search "MENA," "Middle East" or "North Africa," in addition to customizable criteria in Advanced Search.


The Way Forward for Private Equity in Egypt

Since the removal of the Morsi-led government from power in July 3, 2013, Egypt has started on a path of istikrar, istismar and istilam—stability, enhancement of entrepreneurship, and safety and security of the state—that should bolster Egypt's economy. In the background of this economic activity, most Egyptians have been focused on the draft Constitution, which was overwhelmingly approved in a two-day vote on January 14 and 15, 2014. The approval of the draft Constitution will set the stage for Egypt to undertake further reforms to create a more favorable environment for private equity and venture capital. Source: Orrick, Herrington & Sutcliffe, 2014.  Learn more »

 


Legal & Regulatory

Marketing Private Funds in the Middle East

In the past, managers promoting private funds in most countries in the Middle East have not found much difficulty navigating local rules. Foreign fund managers typically did not worry too much about local securities laws, often relying on “reverse solicitation” or “passive marketing” practices, with the tacit approval of regulators. Those days may be over. Source: EMPEA Legal & Regulatory Bulletin, Autumn 2012.

 

Third-Party Resource

3 Opportunities the West Misses in the Middle East

An interview with Arif Naqvi, Founder and Group Chief Executive of The Abraaj Group.

"Those who believe linear careers are linearly predictable might think Arif Naqvi has had consistently bad timing. The Karachi-born investor studied Soviet Economic Systems and National Planning at the London School of Economics a few years before the Soviet Union collapsed..." Source: Wamda, January 2013


 

MENA Fundraising and Investment


Source: EMPEA
  Fundraising (US$m) Investment (US$m)

2013

568

209

2012

548

1,554

2011

423

385

2010

448

793

2009

1,070

2,215

2008

6,875

3,370

2007

5,333

NA

 


 

Additional Resources

EMPEA Professional Development Webcast - The MENA Region: An Overview and Update
This EMPEA Professional Development Webcast examines the effects of the geopolitical turbulence in the MENA region on the PE industry and investors' perceptions. Listen to industry leaders from EMPEA Leadership Circle Member Abraaj Capital discuss how today's headlines may be laying the foundations for tomorrow's great returns. Source: EMPEA Professional Development Webcast, June 2011

Slogan or Salvation: Operational Value Creation in MENA Private Equity
For a third consecutive year, Keystone (the General Manager of GrowthGate) has published a white paper that is the collective work of: (i) Harvard Business School (HBS) faculty members (MBA – Class 2012), (ii) Prof. Josh Lerner of HBS and one of the leading authorities on Private Equity (PE) in the US; and (iii) members of Keystone’s combined investment advisory and portfolio management teams. Source: Keystone, May 2012

Impact Case Study: Jazeera Steel
In 2007, Jazeera Steel was planning a major expansion of its operations into the steel bar market. Kuwait-based fund manager Global Capital Management identified an opportunity to create value by funding Jazeera Steel’s plant expansion through acquiring a majority stake in the company. Over the next several years, Global guided Jazeera Steel through a sharp contraction in the world steel market, significantly reduced borrowing costs and nearly doubled the company’s profits within four years of its acquisition. Source: EMPEA 2012.

EMPEA Insight: North Africa
While it is too soon to speculate about the potential long-term consequences of the unrest unfolding across North Africa, EMPEA’s members are expressing confidence that this chain of events will result in more stable, faster-growing economies that will present private equity players with compelling investment opportunities and more investor-friendly domestic regimes. This report includes analysis and commentary from Abraaj Capital, Citadel Capital, TunInvest-AfricInvest Group and Swicorp. Source: EMPEA 2011.

Impact Assessment of the Recent Events in Tunisia
Expert Commentary by TunInvest-AfricInvest Group: The extraordinary events in Tunisia, which were sparked by a spontaneous youth movement protesting unemployment, social inequities and corruption will undoubtedly have a long-term impact on the investment environment there. TunInvest-AfricInvest Group shares an analysis of the short- and long-term outlook for Tunisia, based on official news, contacts with business community leaders, and the firm's own understanding of the situation on the ground, based on the experiences of its portfolio companies, both former and current. Source: EMPEA 2011.

Private Equity in North Africa: What Every LP Should Know
This EMPEA Professional Development Webcast convenes the region’s private equity insiders to discuss the immediate impact of changes underway, where the region’s private equity industry may be headed, and how anticipated reforms may affect the long-term investment thesis and investor returns. The recent developments that began in Tunisia and reverberated across North Africa and the Middle East have raised the perceived risk profile as well as questions about the challenges and opportunities in the region over the longer term.  Source: EMPEA Professional Development Webcast, February 2011