IFC investment backs Morocco private equity growth

The International Finance Corporation (IFC), the private sector financing arm of the World Bank Group, is considering a $15 million commitment to IMG Fund I, a Morocco-focused private equity fund designed to support the expansion of businesses operating in strategic sectors of the national economy.

The proposed IFC investment forms part of broader efforts to improve access to long-term financing for medium-sized companies and strengthen Morocco’s private equity market. Managed by IMG Capital, the fund is targeting a final size of MAD 1.5 billion, equivalent to roughly $165 million.

According to IFC project documents, IMG Fund I plans to invest in seven to ten Moroccan companies with strong growth prospects. The fund will primarily focus on businesses operating in sectors viewed as essential to economic development, including healthcare, financial services, digital infrastructure, education, and consumer goods.

Individual investments are expected to range between MAD 60 million and MAD 200 million. The capital will help recipient companies finance expansion projects, increase competitiveness, and support job creation.

The fund will also target family-owned businesses seeking to institutionalize operations before or after succession processes. In addition, it may pursue selective buy-and-build opportunities to accelerate growth and market consolidation.

IFC said its participation could help attract additional institutional investors and reinforce confidence in Morocco’s investment climate. The initiative is expected to provide growing companies with access to capital while supporting entrepreneurship and economic diversification.

If approved, the investment would give IMG Fund I backing from one of the world’s leading development finance institutions, further strengthening Morocco’s position as a destination for private equity investment in Africa.