Africa50 invests in grain import terminals operator; A.P. Moller Capital exits
The Africa50 Infrastructure Acceleration Fund has acquired a significant stake in Mass Céréales al Maghreb.
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The Africa50 Infrastructure Acceleration Fund (Africa50 IAF) has signed a share purchase agreement to acquire a significant stake in Mass Céréales al Maghreb (MCM), a key player in Morocco's grain handling and port logistics sector.
Africa50 IAF expects to support plans to reinforce MCM’s operational capacity and develop new cereal terminals in key African ports.
The contemplated investment in MCM was executed through a consortium partnership between the Africa50 IAF and STOA. The consortium jointly acquired the 49% shareholding previously held by A.P. Moller Capital. Holmarcom Group, MCM’s historical shareholder and a Moroccan conglomerate, retains its 51% majority stake.
Opuiyo Oforiokuma, senior partner at Africa50 IAF commented: “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.”
MCM operates grain import terminals in Casablanca and Jorf Lasfar which have been responsible for nearly half of Morocco's grain imports since 2008. MCM’s recent expansion into Bargny-Sendou, Senegal, highlights its pan-African growth potential.
Hafid Debbarh, CEO of MCM said, “I would like to express our appreciation to A.P. Moller Capital for their support and trust over the past four and a half years, which has significantly contributed to the development of our company. 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. Together, we are well-positioned to meet the evolving needs of the African market with resilience and innovation.”
Marie-Laure Mazaud, CEO of STOA stated: “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 A.P. Moller Capital said, “This transaction exemplifies A.P. 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. We are grateful for the support of our partner, Holmarcom, on this successful transaction and we are pleased to welcome STOA and Africa50 IAF to the next phase of Mass Cereales’ development.”
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