Restructuring and merger with ONA Group
The company planned a merger with ONA (Omnium Nord-Africain), to diversify their investments’ portfolio, in 2009. The merger was only announced by the boards of the two companies on March 26, 2010.[9] With this merger, the group shifted from its conglomerate structure controlling the activities of its subsidiaries to an investment fund company incubating, developing and disposing of companies and projects present in the Moroccan economy. The reorganisation gave the group's subsidiaries a larger autonomy in the management of their affairs.[10]
As a result of the SNI-ONA merger, both companies have been delisted from the Casablanca stock market, forming a new investment holding company. They later list their subsidiaries on the stock exchange market once they reach maturity growth.
According to the Casablanca Stock Exchange chief executive, Karim Hajji, the SNI-ONA merger “will improve greatly the liquidity of Casablanca bourse and spur other companies to relinquish their majority controls and sell shares to investors via the bourse."[11]
On February 22, 2013, the group agreed to sell its stakes in Centrale Laitière (dairy firm) to French partner Danone for $727.23 million.[12]
On November 30, 2014, the SNI appointed Hassan Ouriagli as the new CEO to replace Hassan Bouhemou.[13]
In 2015, the net profit attributable to shareholders rose from MAD3.31 billion to MAD3.56 billion.[14]
In 2016, the group registered a 34% rise in net profit, following the merger with Lafarge Ciments and Holcim Maroc.[15]
Renaming to Al Mada
On 28 March 2018, the SNI adopted its current name, Al Mada, as well as a new slogan, "Positive Impact", as it planned to expand its presence throughout the African continent.[16][17]
In March 2020, Al Mada donated 2 billion dirhams to a COVID-19 emergency fund created by King Mohammed VI.[18]
On 8 September 2023, an earthquake with a magnitude of 6.8 Mw hit Marrakesh-Safi region of Morocco.[19][20] 6 Days after the earthquake has struck, Al Mada under the instructions of King Mohammed VI donated 1 Billion dirhams for relief operations of quake-hit regions.[21]
