Herbert Smith Freehills advises IFC on expansion of partnership with Holmarcom

IFC will invest Moroccan Dirhams 1.35 billion (c.US$135 million) to acquire a minority stake in Holmarcom Finance Company, Holmarcom's financial services branch.

The investment is an expansion of IFC's existing partnership with Holmarcom Insurance Activities, consolidating and scaling Holmarcom's financial services across Africa. It will increase access to investment for smaller businesses, particularly those owned by women and those working on climate related matters. 

IFC is a member of the World Bank and is the largest global development institution focussed on private sector in emerging markets. In 2024 IFC has committed a record US$56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilising private capital towards its goal of creating a world free of poverty and a liveable planet.

The Herbert Smith Freehills team was led by partner John Taylor, senior associate Arijeet Mukherjee and associate Aqeel Asif.

Partner John Taylor commented: "We are honoured to help IFC in delivering its ongoing commitment to economic development and financial inclusion."

Senior associate Arijeet Mukherjee added: "Working with IFC on this project has been a pleasure and a privilege."