The International Finance Corporation (IFC), a member of the World Bank Group, has finalized its investment in Holmarcom Finance Company (HFC) after securing regulatory approval. This move deepens the commitment of both IFC and Holmarcom Group to supporting inclusive and sustainable financial development in Africa.
Holmarcom, a Morocco-based conglomerate with interests across several sectors including insurance, will retain a majority stake in HFC. The financial services firm has grown into a diversified group operating in Morocco and sub-Saharan Africa.
In a public statement, Holmarcom revealed that IFC acquired shares worth 1.35 billion Moroccan dirhams (approximately $146 million) as part of the partnership. The investment is intended to strengthen HFC’s ability to expand financial services and development projects in Morocco and other major African markets.
Announced in December 2024, the investment builds on an earlier partnership between IFC and Holmarcom Insurance Activities (HIA), and now extends this collaboration to HFC. The move reflects IFC’s growing involvement in supporting Holmarcom’s efforts to expand its financial services footprint across the continent.
Prior to the investment, HFC had acquired Crédit du Maroc, Morocco’s seventh-largest private bank by assets. This acquisition was a significant step in expanding HFC’s banking presence and enhancing its role in the Moroccan financial landscape.
Beyond its financial stake, IFC will also provide advisory services to help HFC strengthen its environmental, social, and governance (ESG) practices. The focus will include supporting financial inclusion for small and medium-sized enterprises, particularly those owned by women, as well as advancing climate-related financing initiatives.
The partnership between Holmarcom and IFC dates back to 2021, when IFC took an equity stake in HIA to help increase insurance coverage in Morocco and sub-Saharan Africa. Holmarcom remains a major player in the region’s financial services sector, especially in insurance.
This latest investment underscores a continued effort to foster financial growth that is both inclusive and environmentally responsible across Africa.
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