CMGP Group, a leading player in irrigation, agricultural supply, solar energy solutions, and water infrastructure, has announced its upcoming public listing on the Casablanca Stock Exchange. Approved by Morocco’s Capital Market Authority (AMMC), this initial public offering (IPO) is valued at 1.1 billion dirhams, marking a significant step in the group’s plans for growth and regional expansion.
The IPO includes a capital increase of 300 million dirhams and the sale of existing shares worth 800 million dirhams. Each share is priced at 200 dirhams, with subscriptions open from December 2 to December 6, 2024. According to the group, this move will provide the financial means to bolster its operations and enhance its presence in African markets.
For over three decades, CMGP Group has established itself as a major force in Morocco’s agricultural and water management sectors. Its services range from irrigation systems and fertilizers to solar energy and water treatment, making it a comprehensive provider for farmers and agricultural businesses. Operating across Morocco and four other African countries—Senegal, Côte d’Ivoire, Ghana, and Mauritania—the group offers a wide array of solutions designed to address the evolving needs of its clients.
The group’s industrial base includes six production facilities specializing in irrigation systems, pipelines, and fertilizers. Its network of 16 commercial agencies and 24 distribution centers ensures wide market coverage, while partnerships with over 40 international manufacturers enable CMGP to deliver cutting-edge products to its customers.
Sustainability is a cornerstone of CMGP’s operations. The company actively contributes to water conservation efforts, promotes resilient agriculture, and aligns its practices with food security goals. Recent diversification efforts have strengthened its position as a leader in the sector. Since 2015, the group has expanded into pipeline production for water supply, solar energy solutions, and water treatment services. In 2021, a merger with CAS, a prominent Moroccan agricultural supplier, further solidified its market dominance. The company also acquired key players in Senegal and Côte d’Ivoire, extending its reach across West Africa.
The financial outlook for CMGP Group reflects its ambitious growth trajectory. In 2023, the group recorded consolidated revenues of 2.1 billion dirhams and projects an 11 percent increase in 2024, with revenues expected to reach 2.3 billion dirhams. Plans are in place to scale up production, pursue strategic acquisitions, and deepen its footprint in African markets. These initiatives aim to maintain its leadership in core sectors like irrigation and agro-supplies while fostering growth in newer segments such as solar energy and water treatment.
CMGP Group’s listing on the Casablanca Stock Exchange represents a critical step in its development. The funds raised will be channeled into expanding production capacities, supporting external growth operations, and driving its strategy of internationalization. With shares available at banks and brokerage firms, the IPO is positioned as a pivotal moment in the group’s journey to becoming a leading name in sustainable agriculture and water management across Africa.
Investors can find detailed information in the official prospectus, available on the websites of the AMMC, the Casablanca Stock Exchange, and CMGP Group. This move signals the beginning of a new chapter for CMGP, as it aims to redefine agricultural solutions in Morocco and beyond.
