Moulay Hafid Elalamy takes control of Swedish bank stake

Tuesday 02 June 2026 - 15:16

By: Dakir Madiha

Moulay Hafid Elalamy takes control of Swedish bank stake

Moroccan businessman Moulay Hafid Elalamy has taken 92.3 percent control of Arktika Capital AB, a Sweden based licensed credit institution focused on distressed debt. His son, Moulay Mhamed Elalamy, has been appointed chief executive officer of the company.

The stake is held through a network of investment vehicles linked to Saham Group. Remaining shares are retained by minority investors whose identities have not been disclosed. The structure gives Elalamy effective control over the institution and its strategic direction.

Different accounts have emerged regarding the nature of the transaction. One view presents it as a discreet acquisition that was not publicly announced at the time. Another describes it as a structured creation process involving a multi jurisdiction capital arrangement spanning Monaco, Dubai and Luxembourg over several months in 2025.

Arktika Capital operates under Sweden’s financial regulatory framework and focuses on purchasing non performing loan portfolios from European banks at discounted prices. The firm also offers fixed term savings products to Swedish retail clients, with deposits covered by the national guarantee scheme.

The acquisition comes amid rising activity in Europe’s distressed debt sector. Higher interest rates over recent years have increased credit stress across multiple markets, expanding the supply of impaired and watch list loans and attracting investor interest in secondary credit portfolios.

Germany and France remain key areas of focus for investors targeting non performing and early stage distressed exposures. Market conditions have increased transaction volumes in segments that were previously less active during periods of low interest rates.

The deal extends Elalamy’s investment footprint beyond Africa into regulated European banking assets. It follows his earlier divestment from insurance operations in Africa and his continued involvement in global services and industrial holdings.

Elalamy built Saham Group from a Moroccan call center business into a diversified conglomerate. He previously served as Morocco’s minister of industry and trade and remains active in international investment structures linked to financial services and credit management.