A consortium comprising impact infrastructure and energy investor STOA and a fund managed by pan-African infrastructure manager Africa50 is acquiring a 49% stake in Morrocan port-based grain handler Mass Céréales al Maghreb (MCM).
STOA and the Africa50 Infrastructure Acceleration Fund (Africa50 IAF) have agreed to buy the stake in MCM from AP Moller Capital’s Africa Infrastructure Fund I. Holmarcom will retain a 51% interest in MCM.
MCM operates grain import terminals in Casablanca and Jorf Lasfar which have been responsible for nearly half of the country’s grain imports since 2008.
Africa50 said the investment represents the debut transaction for Africa50 IAF, whose investors include the Development Bank of Southern Africa, Axian Group, Public Service Superannuation Fund of Kenya and CNPS Cameroon.
Opuiyo Oforiokuma, senior partner, Africa50 IAF, said: “Africa50 Infrastructure Acceleration Fund is pleased to support Mass Céréales al Maghreb’s next phase of growth alongside Holmarcom and STOA. This investment reflects our conviction that strategic logistics infrastructure, particularly in the agri-food value chain, is essential to unlocking Africa’s potential.
“By expanding cereal terminal capacity across the continent, we are not only strengthening food security but also fostering regional trade integration and sustainable job creation. This partnership exemplifies how catalytic capital can accelerate commercially viable infrastructure that delivers real development impact.”
Hafid Debbarh, CEO of Mass Céréales Al Maghreb, said: “We warmly welcome STOA and Africa50 IAF as new shareholders. Their recognised expertise and strong commitment to sustainable development in Africa will enhance our ability to strengthen our position and support our growth across the continent.
We look forward to a fruitful collaboration that will enable us to expand our operations and further contribute to food security and economic development in the region.”
Marie-Laure Mazaud, CEO of STOA, said: “We are very pleased to join the capital of Mass Céréales al Maghreb. This transaction reflects our commitment to co-building sustainable infrastructure solutions that address the development challenges in Africa and the growing needs of the continent.
“In collaboration with Holmarcom and Africa50 IAF, we are confident that we can accelerate the transformation of the grain logistics chain and streamline port traffic, while directly contributing to food security and the economic development of the region.”
Joe Nielsen, partner at AP Moller Capital, said: “This transaction exemplifies AP Moller Capital’s strategy of investing in critical port infrastructure to support economic development.
“Since our acquisition in 2020, Mass Céréales has invested considerably to expand its operational capacity in the ports of Casablanca and Jorf Lasfar and has further operationalised its international operation.”
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