On November 14, 2024, Société Maghrébine de Monétique (S2M), a Moroccan company listed on the Casablanca Stock Exchange, completed the sale of its shares in African Card Company (A2C) SARL. This strategic divestment highlights S2M’s intent to channel its resources toward priority markets.
African Card Company, headquartered in Tunis, specializes in the personalization of banking cards exclusively for the Tunisian market. With a modest capital of 32,000 Tunisian dinars, the company has been part of S2M’s portfolio for years. The sale involves 51% of A2C’s capital, representing S2M’s entire stake. The buyer, Utique Invest SARL, a Tunisian firm, acquired the shares for 2.4 million Tunisian dinars, approximately 7.37 million Moroccan dirhams.
From a financial perspective, the transaction has a minimal impact on S2M’s performance. The divested shares accounted for just 4.6% of the company’s fixed assets, and their contribution to S2M’s consolidated results in 2023 was marginal, generating only 667,000 dirhams out of a Group share profit of 21.55 million dirhams.
Operationally, the sale does not affect S2M’s core business. The company remains a significant player in banking card personalization, maintaining its stronghold in Morocco and across 15 other African countries. This move aligns with S2M’s strategy to focus on markets and sectors where it has competitive advantages.
By divesting its stake in African Card Company, S2M reaffirms its commitment to optimizing its asset portfolio and strengthening its position as a leader in electronic payment solutions across Africa. This strategic pivot is designed to sustain the company’s growth while enhancing its resilience in an ever-evolving market landscape.
