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Foreign investments in Morocco jumped by 41.5% year-on-year as a large takeover by a South African company of a Moroccan group operating in the Insurance Sector.
According to the Exchange Office of the Moroccan Ministry of Economy & Finance, net foreign direct investment inflows reached $ 3.18 billion at the end of October, with an increase of about $ 930 million from October last year.
The surge in foreign investment coincided with the transfer of the South African giant “Sanlam” of about one billion dollars to the Moroccan group “Saham Finance” after taking an additional 53.4 percent stake of the Moroccan group last March.
Saham Finance, which was part of a group owned by Moulay Hafid Elalamy, the Minister of Industry, Trade, & New Technologies, is active in 26 countries in Africa and the Middle East.

Source: (Al-Arabi Al-Jadeed Newspaper, Edited)