Sanlam Maroc has almost completely pulled out of Salafin after selling a large number of shares.
The insurer sold 130,000 shares at 450.10 Moroccan dirhams each. That deal brought in about 58.5 million dirhams. It also pushed Sanlam’s stake down from just over 5% to only 0.85%.
After the sale, Sanlam Maroc now holds 26,730 shares in Salafin. That is a very small holding and shows the company has nearly exited its investment.
The company plans to stop selling shares in the next six months. In simple terms, most of the exit has already happened.
This move did not come out of nowhere. Sanlam Maroc has been cutting its stake for more than a year. In February 2025, it reduced its holding below 10% after selling 90,500 shares at 552.50 dirhams each. Since then, it has continued selling bit by bit until reaching just above 5% before this latest sale.
Sanlam Maroc is focusing more on its main insurance business. The company reported strong results at the start of 2026, with revenue reaching 2.277 billion dirhams in the first three months of the year. That is a 9.5% increase compared with the same period last year, helped by a strong rebound in life insurance.
At the same time, the company is preparing to take over Allianz Maroc in a deal worth 2.605 billion dirhams. The merger is expected to be completed in July 2026.
Salafin itself is not expected to be affected. The company focuses on consumer loans such as personal credit and car financing. It is mainly controlled by Bank of Africa – BMCE Group, which owns more than 61% of the business.
