Bank of Africa divests its stake in Africa Morocco Links to CTM: A new chapter for maritime transport in Morocco
A new chapter for maritime transport in Morocco In a major transaction that reshapes the landscape of maritime transport in Morocco, Bank of Africa (BOA) has finalized the sale of its majority stake in Africa Morocco Links (AML) to Compagnie de Transports au Maroc (CTM). This divestment, worth 307 million dirhams (around $30.7 million), marks BOA’s exit from AML’s shareholding and paves the way for a new era for the maritime transport operator.
This strategic acquisition allows CTM to consolidate its leading position in Morocco’s maritime transport sector. With the integration of AML into its portfolio, CTM significantly expands its presence in the container transport segment, thus reinforcing its ability to meet the growing needs of international and domestic trade.
The arrival of CTM as the new majority shareholder should breathe new life into AML. CTM’s expertise and resources will enable AML to optimise its operations, expand its activities and explore new growth opportunities. This transaction should also help to modernise AML’s fleet and improve the quality of its services.
CTM’s acquisition of AML is seen as a positive development for the Moroccan economy as a whole. Indeed, this transaction should stimulate competition in the maritime transport sector, thus contributing to a reduction in costs for Moroccan businesses and consumers. In addition, CTM’s investment in AML is expected to stimulate job creation and economic growth in Morocco’s coastal regions.
Mr Hassan Abouyoub, Chairman of BOA’s Management Board, said: “We are convinced that CTM is the ideal partner to take AML to new heights. This sale is in line with our strategy of refocusing on our core banking activities and will enable AML to benefit from the expertise and resources of a major player in the Moroccan transport sector.
Kamal El Mokadem, Chairman of CTM’s Management Board, commented: “The acquisition of AML is a major step in our development and diversification strategy. We look forward to working with the AML team to make AML an even more successful player and contribute to the growth of maritime transport in Morocco.”
CTM’s acquisition of AML marks an important turning point in the Moroccan shipping sector. This transaction should have a positive impact on the Moroccan economy as a whole by stimulating competition, investment and job creation. The outlook for AML and CTM is promising, with significant growth potential in the years ahead.
