Afriquia Gaz, a leading force in Morocco’s energy sector, has taken a significant financial step to support its ambitious growth plans. During an extraordinary General Assembly held at Akwa Group’s headquarters in Casablanca, the company approved a groundbreaking bond issuance program.
The approved initiative involves a maximum bond issuance of 600 million Moroccan dirhams (MAD). Spread over a five-year period, this program allows the company to issue bonds in one or multiple tranches through private placements. The funds will bolster Afriquia Gaz’s strategic projects and enhance its competitive position in the market.
This move underscores Afriquia Gaz’s commitment to diversifying its funding sources while maintaining a proactive and disciplined approach to financial management. The company aims to use these resources to support infrastructure upgrades, drive innovation, and address challenges linked to the global energy transition.
To ensure the successful implementation of the bond program, the General Assembly also adopted two additional resolutions:
- Authority to the board of directors: The board has been empowered to execute the bond issuances, aligning them with the company’s financial goals and strategic vision.
- Administrative and legal compliance: Measures were approved to streamline the administrative and legal processes, ensuring a seamless and fully compliant execution.
This bond program reflects Afriquia Gaz’s forward-thinking strategy. The company is committed to solidifying its market leadership while investing in impactful projects that align with the global shift toward sustainable energy. These funds will empower the company to meet the growing energy demands of the future while maintaining its innovative edge.
