Al Mada (holding company)

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Al Mada, formerly the Société Nationale d'Investissement (SNI; lit. 'National Investment Company'), is a private Moroccan holding company. Headquartered in Casablanca, it was established in 1966. The company is mainly owned by the Moroccan royal family. Al Mada operates across a range of sectors, including banking, telecommunications, renewable energy, mining, and the food industry. The conglomerate holds stakes in several of Morocco’s largest private companies, including Attijariwafa Bank, Inwi, Managem, Nareva, Lafarge Ciments, and Marjane. In addition to its domestic activities, Al Mada has expanded its investments across several African countries, including Cameroon, Ivory Coast, Rwanda, and Gabon. Historically, the company was the majority shareholder of the now-defunct ONA Group. Following a restructuring process, the activities of ONA were absorbed into SNI, which was later rebranded as Al Mada.

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