Palmeraie Holding changes its name. After a major capital increase to support its development plan, the holding company’s board of directors chaired by Saad Berrada Sounni, the group’s majority shareholder, announces the change of name. The holding thus becomes “Africorp Consortium”.
“This change marks a new stage of successful institutionalization of the group initiated a few years ago, into a consortium of businesses with a multi-sectoral continental development, an African holding company with majority stakes acquired in its business areas”, says the group. The latter has also carried out a harmonization of the global architecture of the brands. Thus, the Africorp Industry division manages industry and distribution, while Africorp Agri is focused on agriculture. Mines and quarries are managed by the Africorp Mining division, while education falls to the Africorp Edu division.
For the holding company, this historic transformation of the new name “Africorp Consortium” thus responds to the strategic development of the group and further affirms its African vocation. After launching the construction of its new head office at the end of last year, near Casablanca Finance City, it will be operational during the next quarter.
E.M.G.
