Compagnie de transports au Maroc (CTM) has announced the purchase of Bank of Africa's (BOA) 51% majority stake in the shipping company Africa Morocco Link (AML), for the sum of 307 million dirhams.

Compagnie de transports au Maroc (CTM) completes the acquisition of Africa Morocco Link (AML) for 307 million dirhams.

In a press release issued on Wednesday June 12, the road haulage operator announced the acquisition of Bank of Africa's (BOA) 51% majority shareholding in the shipping company, following approval by the relevant authorities. CTM and BOA are both part of the O Capital Group holding company, controlled by Othman Benjelloun.

According to the press release issued by CTM, the operation, announced last April, "is in line with the company's diversification and growth strategy, aimed at becoming a regional leader in multimodal mobility for passengers and goods". It also enables the company to "integrate Africa Morocco Links' maritime expertise with its know-how in passenger and freight transport".

Africa Morocco Links, which came into being in 2016, is the result of a partnership between Bank of Africa and Greek shipowner Atica Holdings, a subsidiary of Marfin Investment Group, which holds a 49% stake. Its capital has risen from 320 to 460 million dirhams, following a capital increase in 2021.

The company specializes in the maritime transport of goods and passengers between Europe and Morocco, operating mainly between the ports of Tangier Med and Algeciras, and since June 2024, between Tangier Ville and Tarifa.

Elimane Sembène