Matthew D. Meredith
Matthew D. MeredithManaging Principal
Matthew has twenty years of project development experience both as a serial entrepreneur and on an advisory basis. With years of resident market experience in emerging markets he understands the challenges and realities of executing on projects. He is passionate about economic growth and takes a very practical approach to every project in order to achieve concrete results. An SME advisory specialist, he plays the role of intermediary between entrepreneurs, communities, capital providers and government. Matthew also has deep experience in developing trade logistics infrastructure both as an operator and as an advisor. He has a BA from Tufts University in International Relations and an MBA from the Kellogg School of Business. In addition to professional level German and French, he has advanced Arabic language training.
William C. Fellows
William C. FellowsManaging Principal
William has over a decade of experience in the Middle East and Africa in SME focused private sector development, and finance, particularly risk capital financing in frontier markets. From 2004-2011, he managed the FSVC Financial Sector modernization program in the Maghreb which provided support to financial institutions and regulators for expanded financing to SMEs. William also consults to USAID on entrepreneurship and venture financing and has served as Maghreb Advisor for Silatech, supporting the structuring venture capital funds investments in the Maghreb. He serves on the Endeavor Morocco Advisory Board and the MENA Private Equity Association Venture Capital Task Force. He holds a BA from Vassar College and advanced Arabic studies certificates from Université Moulay Ismail in Morocco and the CASA program in Cairo, Egypt. He holds an MA in International Economics & Finance from Johns Hopkins University School of Advanced International Studies (SAIS). He is fluent in Arabic and French.
Mohamed Saad El Jai
Mohamed Saad El JaiDeputy Local Manager, Morocco & Economist
Saad has provided program support to LixCap’s Casablanca office since its founding. He has experience in on-the-ground management, assessment and evaluation in Morocco. He has been involved in entrepreneurship in the country since 2011, and previously worked as a full time staff member of the USAID funded Moroccan Economic Competitiveness Program. Following his work experience with USAID, Saad joined LixCap in 2012 and contributed to the development of a cold storage logistics hub at the port of Tanger Med. Between 2013 and 2015, Saad pursued a Master’s degree of Science in Economics at the Vienna University of Economics and Business in Austria. In parallel, he continued to support LixCap’s efforts on a retainer basis and also worked as a consultant at Weibold GmbH, in charge of the development of the Middle Eastern and African market. In September 2015, Saad joined the Casablanca office of LixCap on a full time basis. Saad plays an integral role as team leader in LixCap’s ongoing project work. Saad is fluent in Arabic, French, and English.
Samir Belrhandoria
Samir Belrhandoria Senior Advisor Investments, Partnerships and Private Equity
Samir is a leading investment fund expert in Morocco and has extensive experience with infrastructure- and energy-related investment funds. He has a particular strength in Francophone emerging and frontier markets.
Samir’s expertise with emerging market investment funds covers many different perspectives. He led fundraising for a pan-African cross-border fund for Attijariwafa and Emerging Capital Partners, acting as Fund Manager. He was also the Vice President of Corporate and Structured Finance for Theolia Emerging Markets, a renewable energy investment firm, and led the corporate finance and structure finance entity at Société Générale Morocco. Previously, he conducted the execution and review of mergers and acquisitions for Société Générale in France and led their corporate and structured finance operations in Morocco.
Samir has a MBA with a major in Corporate Finance from GEM Business School in France.
Charlie Smith
Charlie Smith Consultant & Business Development Analyst
Charlie Smith provides support and analysis on project deliverables, proposal submissions, business development, and internal systems improvement. He is a specialist on private sector-focused programming at development finance institutions and US government agencies. Previously, he conducted political risk analysis for advisory firms in Washington, DC, and supported policy research in Beirut, Lebanon with the Issam Fares Institute. Charlie also managed international logistics operations for global consumer good firms, such as LVMH, while based out of New York City. He holds a MA in International Relations and Economics from the Johns Hopkins University School of Advanced International Studies (SAIS), with concentrations in Middle East Studies and Emerging Markets. He is proficient in Arabic.
Elliott Randolph
Elliott Randolph Senior Investment Analyst
Elliott Randolph has twenty years of entrepreneurial and investment experience. He started two companies in two different industries and spent 17 years in the financial industry raising capital for emerging companies, selling proprietary research focused on the agriculture, retail, technology, and healthcare sectors, and trading both equities and municipal bonds. He worked at UBS in New York, Deutsche Bank in San Francisco, and Feltl & Company in Minneapolis. Elliott has a unique skill set for evaluating business opportunities based on his investment experience in equity sales, trading, financial analysis, risk management, and banking. Additionally, he has strong entrepreneurial experience handling every aspect of starting and growing profitable companies. He has an MBA from the Carlson School of Business – University of Minnesota and BA from Franklin & Marshall College.
Ahmed Lahrache
Ahmed LahracheConsultant in Financial Policies
Ahmed Lahrache is an expert in banking, SMEs, the credit sector, and related policy issues. He has more than 30 years of experience in analyzing and implementing financial development and reform projects. Ahmed has an extensive background in financial and banking systems, as well as microfinance in Africa and the MENA region. From 2009 to 2013, he worked for the IMF in Central Africa, providing technical assistance in banking supervision to officials from eight countries in the region. Prior to that, Ahmed worked at Bank Al Maghrib (Central Bank of Morocco) focusing on regulations, licensing and banking supervision. He also led a successful banking sector reform on behalf of Moroccan regulatory authorities for over a decade. Ahmed Lahrache holds a Ph.D. in Economics from Paris X University, a BA in Economics from Lille I University, and Mohamed Ben Abdallah University. Ahmed is fluent in English, Arabic and French.
Maha Filali Mouncef
Maha Filali MouncefProject Manager
Maha Filali is a dedicated, action-oriented, and results focused project manager. She joined LixCap in 2013. She is currently the project manager of Fundamental Growth Partners “FGP”, a newly developed Fund for SME financing and technical support in the Mid-Atlantic region. In addition to planning, executing, and controlling project deliverables for on time delivery, she is also managing a research and financial analysis team that performs market research and financial modeling for the project. Prior to that, Maha served as junior project manager in the development of Friopuerto Tanger S.A, a $15 million multi-phased fresh food logistics hub at Port of Tanger Med, Northern Morocco. Maha has also held consulting and technical assistance roles in assignments related to Funds evaluation in Africa, and SME financing in Morocco. Maha holds a MSc. in Project Management from the University of Westminster in London and a Bachelor’s degree in business administration from Al Akhawayn University in Morocco.
Rym Kharchi
Rym KharchiAdministrator
Rym Kharchi joined LixCap in June 2015 as Programme Administrator for the Morocco Sustainable Energy Financing Facility (MorSEFF) program, an EBRD organized Renewable Energy Financing Facility on-lending via local partner banks, which LixCap supports in sub-contract to DAI Europe Ltd. Rym is responsible for managing the middle office loan processing with the partner financial institutions (Group BMCE and Group Banque Populaire) and programme reporting for this EUR 110 million facility as well as Consortium reporting. She also is in charge of Qualified Supplier relations, and she ensures a close follow-up with sub-borrowers for projects, starting from the financing request up until project implementation, making sure procedures are respected in a timely and efficient manner. She graduated from the University of Liege with a Masters degree in Management Science, and from University Hassan II with a Master degree in Public Governance & Audit. Previously, she worked as a manager of treasury in Kasbah Tours International, then as an Admin & Finance Coordinator within the multinational firm First Video Communications. Before joining LixCap, she was an Administrative and Financial agent at the Group Comed. Rym is fluent in Arabic, French and English.
Ahmed Al Azhar Zahid
Ahmed Al Azhar ZahidFinancial Analyst & Project Assistant
Ahmed currently serves as both a financial analyst and a project assistant at LixCap. He has worked on a number of projects including the USTDA funded Nador West Med Hydrocarbons Terminal feasibility study, the Morocco Sustainable Energy Financing Facility (MorSEFF) and the Friopuerto Tanger Med Cold Storage Facility, performing financial analysis, research and administrative support. Ahmed also supports the company’s finance manager in managing LixCap’s accounting and administration. As part of the company’s SME Advisory segment, Ahmed supports the finance manager with providing financial management and business development services to clients. Ahmed has been responsible for leading systems development initiatives for accounting, US Payroll, time tracking, business development and data security. He also has an international experience, having lived on three different continents. He speaks fluently the Moroccan dialect of Arabic, French and English.
Asmaa Rkizat
Asmaa RkizatOperations & Research Analyst
Asmaa Rkizat joined LixCap in April 2016, and she is in charge of assisting the finance manager in managing the accounting and administration of three companies, executing analysis for different projects, reviewing processes, and reporting the results to management. She has also been working on a number of research projects in Africa including a literature review desk study for Development Food Assistance Programs (DFAP) in Uganda and a market demand study of a financing line for Renewable Energy (RE) and Energy Efficient (EE) equipment and goods. In fact, Asmaa has a keen interest in research and used to work as a part-time research assistant during her studies. Her previous work experience includes working in a multinational company operating in the automotive industry, where she was responsible for managing the inventory of three warehouses, monitoring customer accounts, and preparing reports. She graduated from Al Akhawayn University with a BBA in Finance and Logistics. She is fluent in Arabic, English, and French.
Nibrass Essouihli
Nibrass EssouihliBusiness Development & Research Analyst
Nibrass Essouihli joined LixCap Advisory & Capital in May 2016 as a Financial Analyst and in August 2016, joined the Business Development department. As a financial analyst, Nibrass was in charge of executing financial analysis for a number of LixCap projects. More specifically, she was tasked with executing the financial modelling, forecasting and cost structuring for these projects. Nibrass helped build the Business Developent department from the intial concept to launch. Nibrass is responsible for supporting the organization’s core business through business development intelligence, budgeting analysis, customer relationship management, the identification of opportunities and events that are of interest to the business development activities of the company. Moreover, Nibrass works continuously on improving LixCap’s business development system. Prior to joining LixCap, Nibrass worked as a project supervisor in a B2C enterprise and was a trainee in the Logistics and Supply Chain department at an automotive multinational company.
Nibrass graduated from Al Akhawayn University with a Bachelor’s degree in Business Administration, with a concentration in Finance and Logistics. She is fluent in Arabic, English, and French, and has a basic of knowledge in German (A1).

Soukaina Qandouci
Soukaina QandouciResearch Analyst
Soukaina Qandouci joined LixCap as a Junior Research Analyst in April 2016. Her mission is to collect, analyse, and interpret qualitative and quantitative data. The first project she worked on was the Nador West Med Hydrocarbons Terminal feasibility study. The project is about the development of energy infrastructure facility in the port of Nador West Med. Soukaina analysed crude oil data and refined petroleum products trade flows. Currently, Soukaina is working on a Renewable Energy and Energy Efficiency market demand study. More specifically, the study focuses on the Moroccan retail sector.
Before joining LixCap, Soukaina had internships in the fields of finance and procurement/logistics. She holds a Bachelor in Business Administration with a major in Finance and a minor in Logistics from Al Akhawayn University in Ifrane. She is fluent in Arabic, French, and English.
Inssaf El Boukari
Inssaf El BoukariFinancial Analyst
Inssaf El Boukari, joined LixCap in October 2016 as a Financial Analyst. She is in charge of executing financial analysis and modelling for different projects, and reporting her findings to management. Prior to that, Inssaf worked on projects related to forecasting, investment, statistics, and financial modeling. She is currently working on the financial modeling for the Fundamental Growth Partners “FGP” Fund as well as developing a robust fundraising strategy for the fund. The FGP fund will be specialized in SME financing in the Mid-Atlantic region. In addition to that, she has previous experience working in the insurance industry and has completed internships in a number of financial institutions where she acquired experience in corporate finance and financial analysis. Prior joining LixCap, she was a trainee in the Logistics and Supply Chain department at Yazaki, an automotive multinational company in Tangier.
Inssaf earned an MBA with a concentration in Finance from Al Akhawayn University, as well as a Bachelor of Business Administration with a double concentration in Finance/Logistics. She is fluent in Arabic, English, and French.
Soukaina Chakir
Soukaina Chakir Junior Research Analyst
Soukaina Chakir joined LixCap in September 2017 as a Junior Research Analyst. She is collecting and organizing information that is used in different analyses including the market analysis, the financial analysis, and the competitor analysis.
Prior to this role as a junior research analyst, Soukaina had internships in logistics and marketing. Her last experience was in a business development company named Develop Greece and that is located in Athens, Greece. During the internship period she was responsible for the local market analysis that includes customers’ needs, competitors, and customer relationship.
She holds a bachelor degree in Business and Administration from Al Akhawayn University in Ifrane, with a major in Management and a minor in Logistics. She is fluent in Arabic, French, and English.
Oum Keltoum Badalla
Oum Keltoum BadallaAssistant Operation Analyst
Oum Keltoum Badalla joined LixCap in September 2017 acting as an Assistant Operation Analyst; Keltoum is in charge of the bookkeeping of three companies by doing reconciliation, managing the three accounts in QuickBooks and presenting outcomes to company management. She is also assisting the operations analyst in the daily operations of the company to build and reinforce key company systems.

Prior to her role in LixCap, Keltoum was an Administrative and Accounts Manager in a Print Agency in Morocco in which she was in charge of the client accounts, measurement of cash flows, and management of the different financial activities of the company (AP,AR)

Oum Keltoum Badalla earned a master’s degree in Marketing Communications (Class 2016) from the University of Westminster in the United Kingdom, and holds a Bachelor in Business Administration concentrated in Finance and Marketing from Al Akhawayn university in Ifrane. Keltoum is fluent in Arabic, French and English.

Fatima Zahra El Mansouri
Fatima Zahra El Mansouri Junior Research Analyst
Fatima Zahra integrated LixCap’s team in October 2017 as a Junior Research Analyst. Her tasks revolve around guiding clients’ decision-making through in-depth market research and analysis.
Her prior experiences were mainly in the automobile industry. With an internship in the Finance department of Fiat Chrysler Automobile in Casablanca, she helped forecast automobile sales per model, version and series. She was also involved in variance analyses of past, real and forecasted, monthly net incomes.
With an Associate in Arts degree in Engineering, from Valencia College in Orlando, Florida, she went on to pursue a Bachelor of Science in Engineering and Management Science with a concentration in Finance at Al AkhawaynUniverity in Ifrane. She is a French Baccalaureate holder and is fluent in French, English and Arabic.

Abdelghani Lemsaad
Abdelghani Lemsaad Administrative Manager
Abdelghani Lemsaad has been a member of the LixCap team since its constitution and holds the position of Administrative Manager. He has thirty years of business administration experience in Morocco. He specializes in executing the necessary procedures to successfully interface with government agencies to fulfill permitting and authorizations requirements on behalf of LixCap clients.
Previously, he worked as an accountant in an accounting firm (ACECA) and then as a commercial insurance agent in SAFLOC. His mission was to manage accident records, and litigation case documents throughout the kingdom. Subsequently he worked at FSVC (Financial Services Volunteer Corps) as an administrative agent during the entire Maghreb Financial Sector Modernization program, which spanned from 2004 to2011. He was responsible assuring administrative support, bureaucratic, and travel logistics for field missions with international banking experts, regulators, etc. He is fluent in Arabic and French.