IFC to acquire a stake in Holmarcom Insurance Activities

The Moroccan group Holmarcom signed, on 29 June 2021, a partnership agreement with the International Finance Corporation (IFC), member of the World Bank.

At the end of this agreement, the financial institution will acquire a minority stake in the capital of the holding Holmarcom Insurance Activities. The transaction is valued at 450 million MAD (50 million USD).

The operation is still pending approval from the competent authorities.