Société Maghrébine de Monétique (S2M) will ask shareholders to approve a major set of governance and legal changes at a Mixed General Meeting on 4 June 2026 in Casablanca.
The meeting will also review the 2025 financial results, but the main item is a full update of the company’s bylaws and governance structure.
S2M describes the plan as a “statutory overhaul” to bring its rules in line with current regulatory requirements.
Several resolutions focus on capital and shareholder rules. Changes to Articles 8, 9 and 11 cover capital increases, share structure, and disclosure requirements when shareholders cross ownership thresholds.
Board governance is also set to change. One resolution introduces stricter rules for independent members of the Supervisory Board and aims to improve gender balance. Other updates clarify the roles of the Management Board and Supervisory Board, and set rules for internal committees and shareholder communication.
The company will also change its audit arrangements. Deloitte Audit’s mandate ends after approval of the 2025 accounts. The board proposes appointing FIDAROC Grant Thornton as co-auditor for 2026 to 2028.
Shareholders will vote on a final resolution to approve the full revised bylaws. Once approved, they will replace the current governance framework. Draft documents are available at S2M’s headquarters and online.
The changes come after a shift in ownership. In April 2026, the Moroccan Capital Market Authority (AMMC) confirmed a mandatory takeover bid for S2M shares led by Medtech and Millennium Ventures. The governance updates align with the new shareholder structure.
The reforms also reflect wider regulatory pressure in Casablanca’s financial sector. The AMMC has set 2026 as a year focused on market resilience, with emphasis on ESG standards, governance rules and digital transformation.
The timing coincides with growth in Morocco’s fintech sector, including announcements at GITEX Africa 2026 in Marrakech.
