Join on WhatsApp
Join on Telegram
Rabat – Marrakech Fine Food (MFF), a Moroccan agrifood manufacturer, announced on Friday the opening of a new production unit in Morocco’s South Perl.
With a budget of MAD 70 million ($7 million), the manufacturing unit is part of an agro-food development agreement MFF signed with the Moroccan government, according to Morocco’s Press Agency (MAP).
Signed in 2021, the investment agreement covers a period of three years and aims to create an industrial unit specializing in the manufacturing of high-end biscuits and chocolate.
MFF’s new factory is set to generate 80 new jobs in the city of Marrakech.
A number of government officials attended the inauguration, including Morocco’s Minister of Industry and Trade, Ryad Mezzour; and the Wali (governor) of the Marrakech-Safi Region, and Karim Kassi-Lahou.
Speaking at the inauguration, Mezzour highlighted that the inflow of investments into Morocco’s food industry is “accelerating and opening to new venues with high added value.”
According to the minister, the increased rate of investments “strengthens” Morocco’s “production capacity,” and “diversifies” local production, enhancing the sector’s competitiveness on the international market.
Mezzour further added that the new investment “will contribute to strengthening the industrial sovereignty of our country and to the development of national exports.”
MFF is part of the Imperium Holding Group. Through its MFF subsidiary, the group has a leading market position in the high-end biscuit and chocolate segment.
Created in 1946, the conglomerate holding manages operations across Africa. It ranked 1687 on Forbes’s list of the world’s largest holding companies in 2014.
With annual revenues averaging $10.2 billion, the group holds a portfolio of assets worth $5.5 billion.
Read Also: Gopag Invests $ 20.8 Million in Industrial Units in South-Eastern Morocco
