IFC invests in Moroccan logistics company
IFC has announced an investment in BLS, a logistics operator in Morocco.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
The International Finance Corporation (IFC) has announced an investment in Building Logistics Services (BLS), a logistics operator in Morocco.
IFC’s investment of about $37 million in BLS will help finance the company’s expansion plans, which include the construction, extension, and acquisition of warehouse facilities in various cities in Morocco.
BLS, which provides freight forwarding, transit, and third-party logistics services in 10 warehouse facilities in Morocco, is majority owned by H&S Invest Holding, a family-owned Moroccan holding company.
Following the investment, IFC will own a minority stake in BLS alongside STOA, an impact fund established in late 2017 which also acquired a 20% minority stake in 2023.
“I am delighted and honoured to see IFC joining our board. Their contribution along with STOA infra team’s will help BLS fasten its speed to market and be more customer centric,” said Moncef Belkhayat, CEO of H&S Invest Holding.
“We are delighted to welcome IFC to BLS to support the group's ambitious development plan in the logistics and 3PL sector in Morocco,” said Marie-Laure Mazaud, CEO of STOA.
“IFC’s equity investment in BLS will further strengthen competitiveness in Morocco’s logistics sector,” said Sérgio Pimenta, IFC’s vice president for Africa. “By supporting a local logistics champion to scale its operations, this project will help make supply chains more efficient and support the company’s ambitious development goals that will create jobs and improve lives.”
Stay ahead in Africa’s private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here