Aziz Mebarek Aziz Mebarek

Aziz Mebarek is an engineer graduated from Ecole Nationale des Ponts et Chaussées (Paris) in 1987.

After a short period with SITEP (JV between the Tunisian government and AGIP) as principal engineer in El Borma (Tunisian Sahara), Aziz Mebarek joined the leading Tunisian steel manufacturing group Tunisacier/Ilva Maghreb between 1987 and 1991, first in the production part, then as assistant to the President of the Group. There, he had the opportunity to steer the industrial and financial restructuring, and finally the handover of the company to the Italian public conglomerate ILVA. Between 1991 and 1994, he was General Manager and Board member of both companies.

In 1994, further to the privatisation of ILVA in Italy, Aziz decided to leave that company and to participate to the setting up of the financial group Africinvest Tuninvest, specialised on private equity and financial advisory services. In that context, he took part to M&A transactions, IPO’s, and played a leading role in the launching of altogether 12 private equity funds covering Tunisia, Maghreb and several countries of Sub-Saharan Africa, and mobilising investments from local financial institutions, from bilateral and multilateral development institutions and from private investors from Europe, North America and the Gulf. The total funds raised amounts to about USD 800 million. As Africinvest Tuninvest executive, Aziz took the lead on several PE transactions (on both sell and buy sides). He also served as board, executive committee, audit and credit committee member of several financial institutions, of companies operating in the industrial or services sectors in the Maghreb region, as well as in Sub-Saharan African countries and in Europe. He also took part in the launch of several start ups, the turnaround and development of few others.

Aziz Mebarek is co-founder and former Vice-Chairman of the African Venture Capital Association (AVCA). He is co-founder and former President of the Tunisian French High school Alumni (ATUGE Tunisia).



Africinvest is an investment fund targeting SMEs in North Africa and West and Central Africa. Africinvest bases its promotion efforts, project analysis and investment supervision on a network of local investment managers, which are coordinated and supported by the Tuninvest Finance Group, a well-reputed and experienced Tunisian investment fund manager. In 2004, BIO committed EUR 5 million in equity in AfricInvest along with the Dutch Development Finance Institution FMO, the Finnish Development Finance Institution Finfund, the European Investment Bank, IBTC and Bank of Africa.

AfricInvest II is a private equity fund managed by AfricInvest Capital Partners (“ACP”), an affiliate of Tuninvest Finance Group (‘Tuninvest’). It focuses on growth and expansion of small and medium-sized enterprises (SME) in primarily Sub-Saharan West and East Africa. BIO committed EUR 6 million in equity to AfricInvest II in 2008.

The fund focuses on enterprises that are well-established and have developed brands, products, distribution channels and good customer bases in their local markets.

BIO participates actively in the investment strategy of AfricInvest and believes that AfricInvest has a positive impact in developing the Pan-African SME market and in supporting the development of strong fund managers in Sub-Saharan Africa.


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