Saham leads Moroccan expansion in African insurance
Private Moroccan
holding, Saham Group, had bought a controlling stake in insurance firm,
Colina, to create synergies with its Moroccan affiliate, CNIA Saada,
and open access to lucrative African markets.
Saham becomes,
therefore, the first Moroccan firm to expand in Africa’s insurance
sector after a push over the past 10 years by Moroccan banks such as
Attijariwafa Bank and BMCE Bank, to tap more growth abroad.
Saham’s chairman,
Hafid Elalamy, told Reuters his group wants to build up partnerships
with Moroccan banks present in Africa to expand Colina’s business.
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