CTM Acquires Majority Stake from Bank Of Africa in AML
The Compagnie de Transports au Maroc (CTM) has announced the acquisition of the majority stake of Bank Of Africa in the maritime transportation company Africa Morocco Link (AML). The effective completion of the operation is subject to obtaining approvals from the competent authorities.
The transaction between Bank Of Africa and CTM, two entities belonging to the O Capital Group owned by Mr. Othman Benjelloun, will allow the continued development of AML leveraging CTM's expertise in passenger and cargo transportation.
With this new acquisition, CTM confirms its recent diversification strategy and marks the beginning of a new growth phase to become the leading player in multimodal mobility of people and goods in Morocco and the region.
BANK OF AFRICA is a pan-African multi-business banking group operating in 32 countries, including 20 in Africa, with a network of nearly 2,000 points of sale. With one of the most extensive banking networks on the continent and its international reach, it ranks among the leading banking and financial groups in Africa. The BANK OF AFRICA Group has transformed itself over more than 60 years, putting its expertise and know-how at the service of innovation, progress, and excellence.