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Moroccan Financial Landscape Shifts as Saham Finances Acquires Societe Generale Maroc

In a significant development that underscores the changing dynamics of the African banking sector, Morocco's Competition Council has given the green light for Saham Finances to acquire a controlling stake in Societe Generale Marocaine de Banques. This move, valued at over 8 billion Moroccan dirhams......

Societe Generale Maroc Appoints Mehdi Benbachir as CEO

Effective Leadership Transition Promises Continued Growth and Innovation The banking sector in Morocco is set for a significant shift as Societe Generale Maroc has announced the appointment of Mehdi Benbachir as its new Chief Executive Officer, effective July 1, 2024. This decision, finalized during......

Morocco Fortifies Domestic Oil Transport Capabilities with New Korean-Built Tanker

Morocco's ambitions in the petroleum sector continue to soar as the nation strengthens its domestic oil transport capabilities with the addition of a new South Korean-built tanker. Set for assembly at the Casablanca shipyard, this vessel marks a significant stride in Morocco's strategic vision......

French Banks' African Exodus Fuels Competition, Unleashes Growth for Local Lenders

In a landscape-shifting move, major French banks are withdrawing from their long-standing presence in African markets, creating new competition and opening doors for local and regional lenders. This trend, outlined in a recent Fitch Ratings report, signals a significant transformation in the African......

Société Générale Sells Its Stake in Société Générale Maroc to Saham for 745 Million Euros

The banking group Société Générale announced on Friday that it has signed a contract to sell its stake in Société Générale Maroc to the Moroccan holding company Saham for a total of 745 million euros. According to Société Générale's......

Société Générale Launches "Solar Pack" Offer in Africa

In an innovative initiative, Société Générale is spearheading the energy transition in Africa with the launch of its flagship offer, the "Solar Pack." Through this offering, the banking group provides a turnkey solution to businesses and institutions in Africa to......

Morocco's 2030 World Cup Hosting: A Gateway to Economic Prosperity

With the countdown to the 2030 FIFA World Cup underway, Morocco's excitement is palpable, and for good reason. A recent report by Valoris Securities, a prominent financial analysis and brokerage firm in the Moroccan stock market, has unveiled a significant opportunity for economic growth. Hosting......

The Rebel Guardian of the Iron Lady: Nada Bzioui's Story

At the iconic Eiffel Tower, Nada Bzioui, a 50-year-old team leader, stands as the guardian of France's most celebrated monument and those who sustain its grandeur. In February, she spearheaded a successful strike, securing the future of the company that manages this emblematic Parisian landmark. Whenever......

Elalamy's Bold Move: Acquisition of Societe Generale's Sub-Saharan Presence

In a daring maneuver set to potentially reshape the banking landscape across Africa, Moulay Hafid Elalamy, former Minister of Commerce and Industry and current CEO of the Saham Group, is poised for an ambitious acquisition. Rumors abound that Elalamy is nearing the acquisition of a controlling stake,......