The International Finance Corporation (IFC) has completed its acquisition of a stake in Holmarcom Finance Company (HFC), following the receipt of the required regulatory approvals, thus strengthening their shared commitment to sustainable and inclusive finance in Africa.
Holmarcom, a Morocco-headquartered conglomerate with interests in several sectors including insurance, will retain a majority stake in HFC, which has established itself as a diversified and integrated financial group.
In a statement, Holmarcom said, “This strategic partnership, through which IFC has acquired a stake worth MAD1.35bn ($146m), aims to support HFC's development projects in both the Moroccan and major sub-Saharan markets.”
The investment, which was announced in December 2024, marks an expansion of IFC’s existing partnership with Holmarcom Insurance Activities (HIA) into HFC, signalling a commitment to consolidating and scaling Holmarcom’s financial services across Africa. This equity investment by IFC follows HFC’s recent acquisition of Crédit du Maroc, Morocco's seventh-largest privately-owned bank by assets.
In the partnership, IFC — a member of the World Bank Group — will also provide advisory services to help HFC strengthen its sustainability framework to structure and manage environmental, social, and governance ambitions at the group level for its subsidiaries, with a focus on the financial inclusion of SMEs, particularly those owned by women, and climate finance.
The investment builds on a strong partnership between Holmarcom and IFC, which began with IFC’s equity investment in HIA in 2021 to expand insurance access in Morocco and sub-Saharan Africa.
Holmarcom has a significant presence in the financial services sector, particularly in the insurance market.