International law firm Herbert Smith Freehills has advised the International Finance Corporation (IFC) on the expansion of its partnership with Holmarcom, one of Morocco’s leading private conglomerates. Holmarcom notably owns AtlantaSanad Assurance and Crédit du Maroc, respectively listed on the Casablanca Stock Exchange and among the major players in the Moroccan financial sector.
In this operation, IFC undertakes to invest 1.35 billion dirhams (approximately 135 million dollars) to acquire a minority stake in Holmarcom Finance Company, the branch dedicated to financial services of the group. This investment aims to strengthen the already existing partnership between IFC and Holmarcom’s insurance activities, while consolidating and expanding the group’s financial services across the African continent.
The stated objective is to increase access to financing for small businesses with particular emphasis on those owned by women or involved in projects linked to climate issues, it was underlined.
A member institution of the World Bank, IFC is the world’s largest private sector-focused development organization in emerging markets. In 2024, the organization committed a record $56 billion to support private businesses and financial institutions in developing countries, mobilizing private capital to fight poverty and promote a sustainable future.
With this strategic investment, Holmarcom and IFC consolidate their cooperation for the development of African economies.
