What we read in the market for capital, valuation and disposals, in Morocco and across the region. Every briefing names its source and carries our reading of it. You can receive new analysis by email, and nothing else.
Per the AMIC annual report, MAD 6.58bn was raised across 11 funds and MAD 2.24bn invested in 2025. Gross IRR climbs to 14%, and 60% of capital raised is now of Moroccan origin, against 30% over 2014-2019.
MAD 9.2bn of dry powder is waiting for deals it can back. The capital is there. What is missing is the preparation upstream.
MAD 1.1bn raised, a MAD 4,508m pre-money valuation, a 25.9% discount to the prospectus DCF value (MAD 301 per share). Subscription 13 to 17 July, listing on 27 July.
A listed healthcare comparable, and a textbook case on the gap between intrinsic value and market price. Directly useful when valuing a clinic.
No IPOs in the first half of 2026, but a wave of mergers and capital restructurings across insurance, banking, retail, agriculture, mining and construction.
When the IPO window closes, the negotiated sale becomes the exit again. That is where independent advice makes the difference.
What the mandates teach us, written down once, properly, rather than repeated in meeting after meeting.
What three years of deals at the mobility and payments crossover tell us about the models funds back, and the ones they steer clear of.
Independent clinics, integrated labs, first roll-ups: the anatomy of a sector professionalising faster than the official figures suggest.
DCF, trading comparables, adjusted net assets: why one method is never enough, and how a practitioner can read and defend their own valuation.