wamda.com - .

The backbone of future economic development in Middle East and North Africa (MENA) could hinge on capital investment as the region slowly rebounds from the global financial crisis of 2008-2009 and subsequent Arab Spring revolutionary movements that left prospective investors gun-shy.

With the recent economic and political turmoil subsiding in some parts of MENA, Arab business leaders are starting to look to private equity (PE) investments to help spur growth in a place they say is brimming with opportunity. The International Monetary Fund predicts MENA will be the third fastest-growing region in the world over the next five years.

As a result, the region is starting to make the transition from its historical role as a source of capital for foreign investment to attracting PE funding for homegrown markets.