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Al Mada

Banking & Finance

Al Mada Overview

Al Mada is a holding company primarily owned by the Moroccan royal family that operates across sectors including banking, telecoms, renewable energy businesses and the food industry.

Al Mada also holds stakes in some of Morocco’s largest private companies: Attijariwafa Bank, the mining company Managem, energy company Nareva, Lafarge Ciments and the Marjane supermarket chain.

Al Mada used to be the majority shareholder of the now defunct ONA Group. It was dissolved in 2010 and its activities were absorbed into the SNI.

Al Mada invests in other African countries including Cameroon, Ivory Coast, Rwanda and Gabon.

Formerly called the Société Nationale d’Investissement (SNI), its name was changed to Al Mada, with the slogan “Positive Impact”, in 2018.

After the earthquake in Morocco in 2023, Al Mada donated MAD1 billion ($10 million) to relief operations.

Al Mada News

Morocco hydrogen

Gulf companies win slice of $32bn Morocco hydrogen projects

The Moroccan government has selected companies from the UAE and Saudi Arabia to help develop hydrogen projects worth MAD319 billion ($32 billion) in the country’s southern province, the prime minister’s office has announced. A government committee finalised five local and global investors to build six projects, said a statement from the office of Aziz Akhannouch, […]

Maroc Telecom fine

UAE telco e& loses appeal in Moroccan antitrust case

UAE telco e& (formerly Etisalat) has lost its appeal against an anti-competitive practices compensation payment in a Moroccan court. Maroc Telecom, which is 53 percent owned by e&, is now required to pay AED2.3 billion ($626 million) to Casablanca’s Wana Corporate (Inwi). It was first ordered to pay the compensation by the Commercial Court of […]

Morocco is rich in phosphate resources, which are key to making lithium-iron-phosphate cells

China picks Morocco for Europe’s EV battery supply

China is intent on establishing a battery supply chain for the European electric vehicle (EV) market in Morocco, a top Volkswagen executive has said. The initiative comes as Europe grapples with challenges in establishing its industry to support EV manufacturing. “We don’t have any supply chain. This has to be set up,” Bloomberg reported, quoting […]

The EV factory in Morocco is expected to create thousands of jobs and begin with a 20 gigawatt capacity

Morocco signs Chinese deal to build EV battery factory

China has announced a second large-scale investment in Morocco’s electric vehicle sector with plans for an EV battery factory to take advantage of access to the European market and a burgeoning automotive sector. A $1.3 billion deal has been signed between the Moroccan government and the Chinese-European group Gotion High Tech to build a gigafactory […]

The Saudi PIF has pledged to buy up to 100,000 vehicles from US EV maker Lucid, in which it has a 60% stake

Saudi and Morocco vie for lead in Mena EV race

Two clear frontrunners in the global electric vehicle race have emerged in the Middle East and North Africa region.  Both Saudi Arabia and Morocco have accelerated efforts to develop their EV capabilities in 2023, with a series of multi-million-dollar investments and partnership deals.  The two kingdoms see the EV industry as central to achieving economic […]

Workers at a Mitsubishi factory in Japan install an EV battery. Morocco has 70% of the world's phosphate, a vital material for batteries

Chinese cash to supercharge Morocco’s EV battery sector

Morocco’s plan to become a centre for electric vehicle manufacturing has received a boost from two Chinese companies, as the kingdom benefits from the cooling relations between Beijing and Washington.   CNGR Advanced Material, a Chinese manufacturer of battery components, announced last month that it would join forces with Al Mada, a conglomerate owned by the […]