Investment: Al Ajial, a new fund for 1.7 billion DH

Al Ajial Investment Fund Holding has just been created. Officially announced in Casablanca on September 22nd, the new fund is launched by the Kuwait Investment Authority (KIA) and led by Waleed Faisal Al-Fehaid, who is also the General Manager of the CMKD (Moroccan-Kuwaiti Development Consortium). The fund has a capital of 1.7 billion DH and aims to contribute to supporting structuring projects in the Kingdom. Its contribution targets sectors with high development potential, such as services, tourism, real estate, or even agriculture and new technologies. This last branch of activity seems to be increasingly interesting to the Consortium. Indeed, Mr. Al-Fehaid announces a major project that will soon be launched in the Tetouan region. It consists of setting up a production unit for smart chip cards, intended for the electronic payment market. “Our activities are very diversified and no longer cover real estate and tourism by more than 20%,” confides the head of the CMKD.