Forafric Global ( (AFRI) ) has issued an announcement.
Forafric Global PLC has announced the appointment of Khalid Assari as the new CEO, following the retirement of Mustapha Jamaleddine on December 31, 2024. Assari, with a notable background in agriculture and business in Morocco, is expected to lead the company’s strategic focus on strengthening its balance sheet and enhancing its operations in Morocco. The company plans to divest non-core assets, which include operations outside of Morocco and certain logistics activities, estimated to yield between 80 to 100 million USD. This move aims to fortify Forafric’s financial standing and prioritize its focus on Morocco and soft wheat, potentially impacting its market positioning and stakeholder interests.
More about Forafric Global
Forafric Global PLC is a leading agribusiness company operating in the milling industry across Africa, with a strong presence in Morocco and Sub-Saharan Africa. The company produces a complete range of flour and semolina, along with secondary processed products such as pasta and couscous. Forafric operates 12 industrial units and two logistics platforms, exporting its products to over 45 countries, with plans to further expand in Morocco.
YTD Price Performance: -5.91%
Average Trading Volume: 9,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $256.7M
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