Key Issues
- Moulay Hafid Elalamy is that specialize in Saham’s acquisition of Société Générale’s Moroccan unit, liquidating his Paris actual property arm to sharpen focal point on Morocco.
- In overdue 2024, Saham obtained a 57.67% stake in Société Générale Marocaine de Banques and L. a. Marocaine Vie for €745 million ($842 million).
- Elalamy’s strategic pivot facilities on banking, training, agriculture, and actual property, in particular in Morocco and Africa, next promoting Saham Guarantee in 2018.
Moulay Hafid Elalamy, the Moroccan businessman at the back of Saham Crew and the rustic’s greatest insurer, is pulling again from his actual property ventures in Paris to be aware of his larger plans at house.
He’s clearing the decks forward of Saham’s deliberate acquisition of Société Générale’s Moroccan unit, a go that requires a sharper focal point. As a part of this shift, Saham Crew’s Paris-based actual property arm, which Elalamy arrange in 2020, has long past into voluntary liquidation, with the method now being treated from the crowd’s headquarters in Casablanca.
Elalamy’s daring pristine banking exit
This strategic go is a part of a bigger pivot in Elalamy’s industry route. In overdue 2024, Saham took a vital step when Saham Price range obtained a 57.67 p.c controlling stake in Société Générale Marocaine de Banques, along the entire acquire of L. a. Marocaine Vie. The €745 million ($842 million) do business in, authorized by means of Morocco’s central deposit, underscores the crowd’s renewed focal point on banking.
For Elalamy, this acquisition represents a go back to the monetary sector next stepping again in 2018, when he offered Saham Guarantee to South Africa’s Sanlam. This date, instead than diversifying into numerous sectors, he’s focusing on banking, training, agriculture, and actual property—in particular in Morocco and throughout Africa.
From insurer to billion-dollar empire
Elalamy’s exit with Saham started in 1995, when he based the crowd with a petite insurance coverage company. Over date, he expanded Saham right into a varied conglomerate, branching into banking, healthcare, and customer support outsourcing. Beneath his management, CNIA Saada grew into Morocco’s greatest insurer, cementing his place as some of the nation’s maximum influential industry figures.
Saham’s growth went past Morocco’s borders. Via 2013, the corporate used to be running in 26 nations throughout Africa and the Center East, catching the eye of French funding company Wendel, which invested $100 million for a 13 p.c stake. Via 2014, Saham’s revenues had reached just about $1.1 billion, securing its park as considered one of Africa’s lead monetary gamers.
Strategic partnerships have been key to Saham’s luck. In 2015, Elalamy joined forces with Moroccan billionaire Othman Benjelloun’s FinanceCom to increase into Africa’s insurance coverage marketplace. That very same life, Saham entered healthcare and outsourcing thru a partnership with Germany’s Bertelsmann, reworking the crowd right into a multi-sector powerhouse and showcasing Elalamy’s skill to identify pristine alternatives.
Moulay Hafid Elalamy’s increasing legacy
In 2018, Moulay Hafid Elalamy made a landmark determination: promoting Saham Price range to Sanlam for $1.05 billion. The do business in, which began with the sale of a 46.6 p.c stake, in the end ended in Sanlam’s complete possession, marking a pivotal life for Morocco’s monetary sector.
Elalamy’s affect continues to develop. In August 2024, he used to be appointed chairman of Teleperformance, the French multinational that specialize in buyer enjoy control. His appointment made him some of the first African industry leaders to chair a publicly traded corporate in France, additional solidifying his legacy of visionary management.
In 2015, Forbes estimated Elalamy’s net worth at $620 million, reflecting his luck throughout insurance coverage, banking, and era. As of late, as Sanlam expands throughout Africa and Saham refines its focal point, Elalamy’s affect on Morocco’s financial system and the wider African industry ground left-overs important.
