Rabat – Moroccan investment and business group Saham Group has established a new investment holding company in Spain.
According to Spain’s Official Commercial Registry, SH REI Spain SL was incorporated on September 11. The company has registered capital of €10,000 (MAD 110,000), and Saham Investments Limited is listed as its sole shareholder.
The registry lists Moulay Mhamed Elalamy, chief executive of Saham Group, among the company’s directors. Rim Bensouda Mourri, the group’s director of asset management, was appointed president and chief executive.
According to Billionaires Africa, which reported the development on October 14, the new company is based in Rivas-Vaciamadrid, near Madrid. Its stated business purpose allows it to acquire stakes in companies across different sectors.
The €10,000 (MAD 110,000) in registered capital does not indicate the total amount Saham intends to invest in Spain. The available company records do not identify specific projects, target companies, or a broader investment budget.
The move adds to the family’s existing business presence in Spain, including real estate interests in Marbella, on the country’s southern coast. However, the establishment of the new holding company does not by itself confirm that Saham has launched a major investment project in the country.
Founded in 1995 by Moulay Hafid Elalamy, a former Moroccan industry and trade minister, Saham Group has developed interests across several sectors, including financial services, insurance, and real estate.
In 2018, the group sold its insurance operations to South Africa’s Sanlam. It later returned to the financial services sector through a major banking acquisition in Morocco.
The group has also developed its presence in the Moroccan banking sector. Its acquisition of Société Générale Maroc’s operations led to the creation of Saham Bank.
The new Spanish company provides Saham with a legal structure for holding investments in the country. However, further details about its investment plans, target sectors, and expected spending have not been publicly disclosed in the company records reviewed.
