COSUMAR has received the MSI 20000 certification, an international standard that measures companies’ financial strength and governance. The certification was presented by French certification body COFICERT under the International Group for Sustainable Finance (IGSF) during a ceremony at Euronext Paris.
The company said the certification recognises “the strength of our financial governance,” “the excellence of our financial management processes,” and “our unwavering commitment to transparency and sustainable value creation.”
“Obtaining the MSI 20000 certification marks a new milestone in our continuous improvement process and our ambition to consolidate our leadership as a benchmark agro-industrial group in Africa,” the company said.
MSI 20000, or Market Standard Indicator 20000, assesses a company’s financial health using indicators such as solvency, liquidity, profitability, leverage, operational performance and risk management. The standard is designed to show whether a company follows international financial management and governance practices.
The certification is expected to strengthen confidence among investors, lenders, customers, business partners and public institutions. It could also help the company attract international funding as it expands its business across Africa.
COSUMAR is the country’s only sugar refiner. It manages the sugar supply chain from processing locally grown sugar beet and sugar cane to refining and distribution. The group also has operations in West Africa, including Côte d’Ivoire.
The company refines more than 2 million metric tonnes of sugar a year, enough to meet domestic demand while supplying export markets. It reports annual revenue of around MAD 10 billion to MAD 10.5 billion (about $1 billion) and has a market value that regularly exceeds MAD 20 billion on the Casablanca Stock Exchange.
More than 80,000 farmers in regions including Tadla, Doukkala and Gharb supply crops to the company, making its financial stability important for a large part of the country’s agricultural sector.
