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Mohammed VI to recapitalise his Al Mada holding company with funds from farmers' mutual insurance group
Faced with the worst economic crisis of his reign, the king plans to refinance his private holding company Al Mada via a $500m bond issue. The main subscriber is likely to be mutual smallholders' insurance group MAMDA-MCMA, which has already got him out of difficulty on several occasions in the past. [...]
BMCE: Othman Benjelloun is without partners or heirs
Third-ranking Moroccan bank BMCE Bank of Africa is struggling to complete the 6-billion-dirham recapitalization it needs to have in place before the end of 2019. Implicitly, it is the future of the bank after the departure of its 87-year-old founder, [. [...]