CMGP Group, a Moroccan company specializing in irrigation, agricultural supplies, solar solutions and water infrastructure, has obtained approval from the country’s market regulator, the AMMC, to proceed with an initial public offering. The green light came on Thursday, November 21.
In a statement, the group said the listing, valued at 1.1 billion dirhams, is intended to support its growth and development. The operation will be carried out in two parts: a capital increase reserved for the public worth 300 million dirhams, including the issue premium, and a public sale of company shares amounting to 800 million dirhams.
The group describes itself as a leading player in irrigation, agricultural supply, solar solutions and water infrastructure across Morocco and West Africa, positioning itself as a “one-stop shop” for farmers.
Founded three decades ago, CMGP Group operates in Morocco and four other African countries — Senegal, Côte d’Ivoire, Mauritania and Ghana — and has set its sights on widening its footprint across the continent.
