New Momentum in the Pharmaceutical Sector in Morocco: SPE Capital and Proparco sell Amanys Pharma to Laprophan

In November 11, 2023 – SPE Capital, an independent private equity firm, announces the sale of Amanys Pharma to Laprophan, a pioneering pharmaceutical company in Morocco, subject to obtaining the required regulatory approvals. This transaction constitutes the second exit for SPE AIF, the USD 260m African-focused fund managed by SPE Capital and which reached final close December 2020.

Laprophan and Amanys aim to form a diversified pharmaceutical group in Morocco and Africa, built around specialized and complementary businesses.
Since their acquisition of Amanys in 2020, SPE Capital and Proparco supported the management team to achieve sustained growth, extend the company’s industrial capabilities and improve governance standards.

Laprophan, which itself benefited from an investment by a consortium of investors composed of Mediterrania Capital Partners (MCP), Proparco, DEG, and FMO, will bring its expertise to establish a new dynamic. Thanks to this merger, Laprophan and Amanys will be able to act in synergy to better meet the growing health needs in Morocco and the continent.

Farid Bennis, CEO of Laprophan, stated: “I am convinced that this coming together of two pharmaceutical players with real synergies will serve the interests of patients in Morocco and more broadly in Africa.”

Mly Younous Elalamy, General Manager of Amanys, said: “We are delighted with this partnership that will ensure the continuation of our group's development, while taking advantage of the industrial and commercial complementarities that exist between Amanys and Laprophan.”

Nabil Triki, Managing Partner and CEO of SPE Capital, said: “I am proud of the company's achievements, both strategic and industrial. We are happy to have supported Amanys and its management team in their ambitious development plan.”

Tibor Asboth, Deputy Head of the Private Equity team for Africa and the Middle East at Proparco, said, “We are delighted to have been able to support Amanys Pharma and its team in this phase of its development. This transaction illustrates Proparco's strong commitment to local production and access to quality essential medicines in Morocco and across the African continent.

SPE Capital was assisted by DLA Piper (legal advisor), and KPMG (financial advisor). Laprophan was advised by ASAFO & Co. (legal counsel) and Deloitte (financial advisor).

About SPE Capital Partners

Founded in 2016, SPE Capital is an independent private equity firm focused on Africa and the Middle East, with offices in Tunis, Casablanca, Cairo, and Abidjan. For more information, please visit:

About Amanys

Amanys Pharma is a pharmaceutical group established since 2011 producing antibiotics for GSK and under its own brand, and also distributes medicines to the hospital sector for its own account and for other international laboratories.

About Laprophan

Founded in 1949, Laprophan is a pioneering pharmaceutical laboratory in Africa with a long tradition of research and development. The laboratory has made a significant contribution to the public health sector in Morocco by inventing and patenting several innovations in over a hundred countries worldwide. Laprophan markets more than 400 products covering most therapeutic areas. For more information, please visit:

About Mediterrania Capital Partners (MCP)

Mediterrania Capital Partners is a private equity fund dedicated to high-potential companies in North Africa and Sub-Saharan Africa. With offices in Casablanca, Barcelona, Abidjan, Algiers, Cairo, and Malta, Mediterrania Capital Partners adopts a proactive approach to implement its growth strategy by strengthening governance and driving the value creation process of companies. For more information, please visit:

About Proparco

Proparco, a subsidiary of Agence Française de Développement Group, has been working for more than 45 years alongside private sector players in the service of a fairer and more sustainable world. With an international network of 23 local offices, Proparco is close to its partners to build sustainable solutions in response to environmental and social challenges in Africa, the Middle East, Asia, and Latin America. Proparco has sector-specific expertise, a diversified range of financial tools suitable for different stages of a company's development, including its subsidiary Digital Africa, and a technical support offer, Propulse, to multiply the impact and performance of its partners. For more information, please visit: