Attijariwafa Bank

Mohamed El Kettani, Chairman and CEO since the 2004 merger, holds ultimate authority over large capital allocations. The private equity practice operates under Attijari Finances Corp., which maintains its own investment committee staffed by senior group executives and external advisors for specific deal underwriting.

It functions as both. The group is a publicly listed universal bank that also serves as the primary holding vehicle for Al Mada, the Moroccan royal family's investment holding company. Al Mada's 46% stake gives it effective control, and the bank's balance sheet is routinely used for strategic co-investments that a conventional family office would book through dedicated private vehicles.

The group operates in more than 25 countries, heavily weighted toward Francophone West and Central Africa. Core banking subsidiaries exist in Senegal, Côte d'Ivoire, Mali, Burkina Faso, Cameroon, and Gabon, with additional representation in Tunisia and Egypt through the Attijari Bank and Attijari Investment Managers Egypt platforms.

Primarily through its in-country banking subsidiaries. The retail and corporate lending operations in each African market function as deal-origination engines, identifying local companies that need growth capital — at which point the Casablanca private equity team evaluates direct equity participation.

The group is predominantly a direct investor, using its own balance sheet and co-investment from Al Mada. There is limited public record of the bank acting as a limited partner in external private equity or venture funds, with exceptions possible in its Egyptian subsidiary's fund-of-funds activity through the Auerbach legacy platform.

Al Mada (formerly SNI) is the Moroccan royal family's holding company and the largest single shareholder of Attijariwafa Bank, with roughly 46% ownership. The holding company uses the bank both as a source of recurring dividends and as a balance-sheet partner for co-investments in strategic sectors, including telecoms, mining, and real estate.