Investing in the
future of North Africa


population in 2021 with Egypt representing 50%

27 years

48% of population below median age in 2021


urban population in 2021 or 113mln growing 2.1% CAGR


middle class households in 2021  growing 2.0% CAGR


private consumption as % of GDP in 2021 or $550bn


GDP in 2021 growing 4.8% CAGR last 5yrs

The North Africa region, represented by Egypt, Tunisia, Algeria and Morocco, enjoys favorable consumer dynamics. These dynamics include a young and rapidly expanding population, swift urbanization, rising income levels, and widespread adoption of digital technologies. These factors create a fertile environment for investment in growth capital. The region's youthful and growing population provides a large and diverse consumer base, offering numerous market opportunities. Urbanization drives new consumer demands, spurring business growth and fostering a hub for talent and innovation. Private equity investors find the region appealing due to these factors. Increasing incomes contribute to the growth of the middle class, generating demand across various sectors and making the region an attractive investment destination. The rise of digitalization and improvements in digital infrastructure unlock new markets like e-commerce and fintech, which offer significant untapped potential for investment. North Africa possesses several ingredients critical to fostering economic growth and prosperity:

We have been investing in the future of North Africa for over a decade. Our investment thesis evolves around the emerging consumer in North Africa, supported by a young and growing population, rapid urbanization and rising incomes, resulting in a structural increase in consumption that is expected across both the consumer staples and consumer discretionary sectors, with industries such as education services, financial services, household products, packaged foods, and healthcare expected to benefit disproportionately given the demographics of the region. Within this dynamic and evolving growth context, we actively track a host of interconnected trends that help us identify and define our target investment sectors. These trends span across various industries, including but not limited to, consumer goods, healthcare, education, and financial services. By leveraging our deep understanding of these trends and our operational expertise, we are well-positioned to create significant value in our investments, ultimately delivering strong returns to our investors. 

Committed to North Africa for the long term

Investing in the industries of the future, backing growth sectors that we believe will shape North Africa's future economy. 
Investing in the companies of the future, helping North Africa's founders scale up to become the market leaders of tomorrow. 
Investing in the jobs of the future, supporting companies across North Africa that can create the high skill and sustainable jobs of the future. 
Investing in a sustainable future, supporting companies across North Africa with a sustainability agenda to grow to deliver value for our investors.