Managem has reached an unprecedented level of financial commitment in Africa, investing 7.25 billion dirhams in 2024—an increase of 4.5 billion dirhams compared to the previous year. These investments are primarily focused on developing new mining projects, with major sites such as Tizert in Morocco and Boto in Senegal now in the final stages of construction. Both are expected to become operational in the second half of 2025.
The group is also expanding through strategic acquisitions. The purchase of Sound Energy Morocco East Ltd, now rebranded as Mana Energy, marks a significant entry into Morocco’s natural gas sector. Meanwhile, the acquisition of the Karita gold project in Guinea from Canadian firm IAMGOLD strengthens Managem’s footprint in West Africa, a key region for its gold operations.
Currently active in seven African countries, Managem is solidifying its position as a major player in the continent’s mining and energy industries. By balancing investments between precious metals and minerals essential for the energy transition, the company is pursuing a sustainable and responsible growth strategy. Supported by its majority shareholder, Al Mada, Managem plays a crucial role in Africa’s industrial transformation while adhering to international environmental and governance standards.
The company also reported strong financial growth in 2024, with revenue reaching 8.86 billion dirhams—an 18% increase from the previous year. This performance was driven by rising prices of gold (+19%), silver (+14%), copper (+12%), and zinc (+10%). Higher sales volumes of copper from the Pumpi project and gold extracted in Sudan further contributed to this momentum.
However, in response to a sharp 33% drop in cobalt prices, Managem adjusted its production strategy to maintain profitability. Meanwhile, the company’s net debt rose to 10.27 billion dirhams, up by 2.68 billion dirhams in one year—a direct result of its ambitious investment plan aimed at strengthening its presence across Africa.
