Moulay Hafid Elalamy: The ‘Moroccan wolf of finance’

After selling his insurance and offshoring businesses, the Saham group founder is preparing to enter the banking sector with the acquisition of Société Générale Maroc.

Having patiently lain in wait, the ‘Moroccan wolf of finance’ has pounced – in spectacular fashion. Moulay Hafid Elalamy is set to enter the Moroccan banking sector through his planned acquisition of Société Générale Maroc and its subsidiaries, including the consumer credit company Eqdom. An industry source confirmed that he is also eyeing up other African subsidiaries of the French group.

While applications don’t open until September, the list of those who have thrown their hat in the ring – whether officially or unofficially – to take ...

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