This momentum of change is accompanied by an increased need for financing, which is essential to support our strategic national projects. Moreover, hosting the 2025 Africa Cup of Nations and co-hosting the 2030 FIFA World Cup will act as real catalysts for economic development, fostering regional planning and strengthening Morocco’s influence both regionally and internationally.

In this demanding and inspiring context, Red Med Capital fully embraces its mission as an independent investment bank serving the real economy. We have renewed our commitment by supporting Moroccan SMEs and large corporations in diverse strategic operations. It is in this spirit of contribution to the national economy that our five subsidiaries have continued their development:

Red Med Corporate Finance consolidated its role in the capital markets with more than MAD 3 billion in cumulative DCM transactions. Furthermore, its M&A division successfully advised GrowthGate Capital Investment Fund on the sale of its stake in Retail Holding — one of the largest private equity transactions in North Africa. In the renewable energy and green hydrogen sector, the consortium advised by RMCF — Total Energies H2 and Copenhagen Infrastructure Partners — was the first to be selected as part of the “Morocco Offer” for the development of an annual production project of 1 GW in renewable energy and 200,000 tons of green ammonia in the Guelmim-Oued Noun region.

Red Med Asset Management surpassed the threshold of MAD 22 billion in assets under management thanks to the strength of its asset management and fund performance (with an equity fund performance of 41% and a bond fund of 10%). With an average annual AUM growth of +25% since 2017, RMAM maintains its position as the leading independent asset management company in the country, serving the majority of Moroccan institutional investors and an increasing share of key corporate clients.

Red Med Private Equity invested nearly all of its first fundraising round — MAD 280 million — into four high-growth-potential SMEs. RMPE also won the tender from the Hassan II Fund to manage the Oriental Region Investment Fund (FIRO), with MAD 200 million in assets under management, and is among the management companies selected under the call for expressions of interest launched by the Mohammed VI Fund.

Red Med Securities, following its restructuring, achieved significant growth, with market share increasing from 2.88% in 2023 to 7.5% in 2024. Its custody business grew by 125%, reaching MAD 450 million, and the online trading platform recorded a 45% increase in new account openings.

Red Med Real Estate strengthened its strategic partnership with Lamfadel, a reference player in real estate, by consolidating the development of the high-end residential Sohaus project in Casablanca, which has already entered the commercialization phase. RMRE and Lamfadel also launched the M Tower project in Casablanca Finance City, a 31-story office and retail tower.

Furthermore, we are pleased to welcome Italian independent asset management company Azimut as a minority shareholder in Red Med Asset Management and Red Med Securities. Azimut — listed on the Milan Stock Exchange, present in 19 countries, and managing over €110 billion in assets — shares our values and vision for growth.
This strategic partnership with a global leader in asset management, wealth management, investment banking, and fintech strengthens our positioning, enhances our innovation capabilities, and expands our global market reach. It reflects our shared ambition to build a finance that is both high-performing and responsible.

At the group level, 2024 marked a year of team strengthening, with a 50% increase in the number of senior executives. We are proud that 50% of these hires were women, bringing the female representation among executives and top management across the group to 46%, with two subsidiaries exceeding the 50% mark. In 2024, we also implemented our first CSR action plan, which had a significant impact on our stakeholders and, above all, raised awareness among our employees about the importance of CSR — a true reflection of our commitment to responsible corporate citizenship.

In this pivotal year, I wish to express my deep appreciation for the exceptional dedication of our teams, the loyalty of our clients, and the renewed trust of our institutional partners.
Red Med Capital remains more committed than ever to promoting meaningful finance — a driver of transformation for a stronger, more dynamic Morocco, resolutely looking toward the future.