Private equity in Morocco reached a cumulative investment total of 15.7 billion dirhams in 2024, spanning over 320 companies, according to the sixth annual impact report published by the Moroccan Private Equity Association (AMIC) and Fidaroc Grant Thornton. The study reflects more than two decades of steady growth in Morocco’s private equity landscape, which has played a key role in revitalizing the country’s economic fabric.
This sustained momentum has led to the rise of sector leaders and key players across various industries, helping position Morocco as a regional hub for sustainable investment and long-term growth. The report highlights how private equity has become a powerful engine of transformation by supporting businesses through restructuring, expansion, and internationalization—contributing to a more competitive, inclusive, and resilient Moroccan economy.
The report also outlines a significant fiscal impact from private equity-backed companies. Among nearly 200 small and medium-sized enterprises (SMEs) that were supported between 2000 and 2024 and participated in the survey, tax contributions rose by more than 3 billion dirhams over an average holding period of six years. In 2024 alone, taxes and levies collected from these companies increased by nearly 250 million dirhams compared to the previous year.
Governance and ESG (Environmental, Social, and Governance) practices are also seeing substantial improvement. According to the report, 78% of fund managers now include independent members in their investment committees, with these individuals making up an average of 42% of all seats. This signals a broader trend toward stronger oversight and accountability within the ecosystem.
Portfolio companies have demonstrated marked progress on ESG criteria, improving their governance structures, environmental practices, and social policies. These changes reflect a shift toward more responsible and sustainable business models across the private equity landscape.
The annual impact assessment by AMIC and Fidaroc Grant Thornton evaluates the effects of private equity on Moroccan companies using a combination of financial and socio-economic indicators. The 2024 edition analyzed data from a representative group of 23 management firms.
AMIC represents the majority of private equity entities operating in Morocco—including venture capital, growth capital, buyout funds, and turnaround strategies. Its 33 active members are professional investors supporting and financing more than 320 Moroccan businesses. An additional 29 associate members provide legal, financial, and strategic advisory services, supporting both investors and entrepreneurs in structuring and managing their partnerships.
