Finance March 10, 2012 Casablanca – The IFC (International Finance Corporation) and the ALAC Fund, (Africa, Latin America and Caribbean), World Bank Group’s subsidiaries have operated a stake of about 18.75 pc stake in Holding Saham Finance an investment of $ 125 million, it was announced Friday night in Casablanca. March 10, 2012 This is the 2-nd equity stake in the Moroccan holding company, subsidiary of Saham, after the Fund Abraaj Capital, the leading private equity in emerging markets, announced Wednesday with a similar investment is 125 million dollars. These two caps, totaling $ 250 million capital increase of the holding company, are intended to ensure a comfortable financial base for the continuation of the development strategy of the Moroccan holding company in Africa and give it the means to consolidate its leadership Pan, in the insurance business. To consolidate its leading position in the Pan-African business of insurance holding company has set a goal to establish itself in seven other countries including the East Africa. Morocco is a priority for IFC in the region, has indicated that occasion the Vice-President of the Africa Region of the IFC, Mr. Dimitris Tsitsiragos recalling in passing that his institution focuses its activities on private sector development in developing countries. This is an equity dedicated to “champion a company that is well established in Morocco and is looking to grow outside,” he added, noting that the insurance industry remains a very important niche and has a significant growth potential especially in Africa and the Middle East. The strategic partnership by holding knotted with IFC / ALAC and the group Abraaj Capital is a sign of confidence in the
