The turnover (turnover) of a total of 72 companies supported by private equity in Morocco reached 25.3 billion dirhams (billion dirhams) in 2020, marking an increase of 0.8%, according to a report by the Moroccan Association of Capital Investors (AMIC) and Fidaroc Grant Thornton.
Based on data from 72 invested companies surveyed, the sectors invested by the funds, which have experienced the strongest growth in terms of turnover are Health (25%), Information and communication technologies ( 12%) and Services (8%), specifies the 2nd edition of the Private Equity Impact Report in Morocco.
Invested companies present a greater tax contribution (value added tax, income tax, corporation tax, as well as other taxes and duties) between the year of entry and the year of exit from the fund ( or 2020 for companies still invested), adds the same source.
Out of nearly 140 small and medium-sized enterprises (SMEs) supported between 2000 and 2020 and for which the data are available, the sector’s tax contribution increased by more than 2.55 billion dirhams for an average holding period of 6 years.
Based on data from 138 invested companies, the average annual growth rate (AAGR) of turnover of companies supported by private equity reached 11.3%, between the years 2000 and 2020 or the year of exit from the fund.
By sector, ICT (19%) recorded the highest CAGR, ahead of Health (17%), Services (16%), Distribution and trading (8%), Automotive industry (7%) and Construction construction (6%).
Other industries including packaging, biotechnology, metallurgy, pharmaceuticals and others achieved a sales CAGR of 12%.
AMIC brings together the majority of Private Equity structures (Venture Capital, Development Capital, Transmission Capital / LBO, Reversal Capital) established in Morocco. Professional shareholders, the 28 active members of the association support and finance the growth of more than 220 Moroccan companies. It also has 23 associate members representing the businesses that support and advise investors and entrepreneurs in setting up and managing their partnerships.