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Société Nationale d'Investissement

Société Nationale d'Investissement
Industry Holding company
Founded 1966; 51 years ago (1966)
Founder Moroccan state
Headquarters 60, rue d'Alger
20000 Casablanca
, Morocco
Key people
Hassan Bouhemou
Mounir Majidi (Director of SIGER)
Mohammed VI
Revenue DecreaseMAD41,665 million (2013)
DecreaseMAD48,701 million (2012)
IncreaseMAD1.531 billion (2012)
Total assets DecreaseMAD68.479 billion (2012)
Total equity IncreaseMAD42.528 billion (2012)
Owner Mohammed VI
Members of the Alaouite royal family

Société Nationale d'Investissement (SNI) or National Investment Company, is a large private Moroccan holding company controlled by the Moroccan royal family. The holding company used to be the majority shareholder of the now defunct ONA Group, until the activities of the latter were absorbed into the SNI and subsequently disposed of.

In 2012, the company's consolidated turnover was 53 billion MAD and its net income was 5 billion MAD

The conglomerate registered a consolidated net income of MAD 2.3 billion in 2009. In March 2010, the decision was taken to merge by the two companies, during a meeting of their management boards. In 2009, SNI invested an overall amount of MAD 5.52 billion, mainly in acquiring 10% of Attijariwafa Bank's capital from the Spanish bank Santander.

Despite the unfavourable global context, the company's performance increased 365% in 2009, with a turnover of MAD 3.42 billion, compared to the previous year.

In March 2010, the boards of the two companies announced the reorganisation of their activities, as the group moved away from a 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. This reorganisation has transformed the conglomerate into an investment company that gives larger autonomy to its subsidiaries in the management of their affairs, once these companies have reached a large size. As a result of this merger, the two companies have been delisted from the Casablanca stock market, pending the enlargement of the free float of its subsidiaries on the stock exchange.

The group has a large footprint on the Moroccan economy, estimated to be worth 3% of GDP, with investments in companies holding #1 positions in banking and mass retail. Its main activities encompass financial services with Attijariwafa Bank mass distribution with Marjane Holding (), telecoms with Wana Corporate () and mining with Managem Group. Societe Nationale d'Investissement has invested as well in renewable energy, tourism and real estate. It has partnered as well with foreign investors such as Lafarge in Lafarge Maroc and Arcelor Mittal in Sonasid.


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