Rabat – Sahams Insurance leadership is shifting.
The board of directors has named Moroccan multi-millionaire Said Alj the new president of Saham Insurance after the departure of the former president, Nadia Fettah, and the general manager of the company, Moulay Mhamed Elalamy.
Alj, who is the president of Sanam Holding, holds 21.5 percent of Saham’s capital.
During his career, the 64-year-old businessman has managed several companies in Europe and Morocco before building his group through acquisitions and buyouts.
President and founder of the Sanam holding group, Alj is involved in several areas of the economy, including the food industry, distribution of technical equipment, consumer distribution, tourism, cinema, commercial real estate, and finance.
The group controls over 65 subsidiaries in Morocco and internationally, in England, China, Spain, France, Mauritania, Monaco, Peru, and the United States.
Alj has also been active in Moroccan business for a number of years and leads economic development groups and business councils in Africa as well as in Latin America.
Alj is known for his social work as he is a member of several nonprofit organizations. He organizes and participates in several charitable actions in Morocco and abroad.
In 2014, Alj was listed among the “5 Moroccan multi-millionaires you should know” by the prestigious magazine Forbes.
Saham has made other changes. To replace Elalamy, the Moroccan company appointed Christophe Buso as CEO. However, Mahmoud Oudrhiri’s mandate as chief operating officer was renewed.
According to Media24, Nadia Fettah is remaining CEO of Saham Finances and director of Saham Insurance Morocco.
Saham Insurance, called Saham Assurance in French, is a subsidiary of Group Saham founded in 1995 by the current General Confederation of Moroccan Enterprises (CGEM) president, Moulay Hafid Elalamy. Group Saham operates in countries throughout Africa and in the Middle East and Europe.