Rabat, Morocco, June 3, 2021— A new advisory program launched by IFC today aims at making it easier for start-ups in Algeria, Libya, Morocco and Tunisia to expand their operations across North Africa.
The Start Maghreb program brings together start-ups, incubators, accelerators, investors, donors and other stakeholders to exchange expertise, identify bottlenecks, and build solutions through targeted stakeholder engagement, as well as a series of public-private dialogues.
The aim is to help start-ups access bigger markets across the Maghreb and create more jobs and opportunities for the region's youth.
"Young people in the Maghreb are among the most innovative in the world and have built many start-ups that meet their communities' needs," said Xavier Reille, IFC Country Manager for the Maghreb. "Our new program will build pathways to help even more start-ups develop and expand across the region, to boost regional cooperation and create more jobs."
Entrepreneurs and start-ups are seen as a vital part of the region's economy, helping to drive innovation, create jobs, and propel growth. However, the region's start-up ecosystem is still considered nascent, with challenges in bringing new products to market, integrating new technology, and providing capital to help businesses grow.
Along with fostering greater regional integration and spurring innovation, the new program will also bring donors into the conversation and ensure synergies in developing the start-up ecosystem across the Maghreb.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
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