Moroccan investment holding Al Mada appointed Friday Noufissa Kessar as its new chair and chief executive, following the passing of Hassan Ouriagli, the group announced.
The board of directors said it had paid tribute to Ouriagli’s leadership and role in shaping Al Mada’s strategic position in Morocco and across Africa.
Ouriagli, who led the group for more than a decade, oversaw its transformation from the former Société Nationale d’Investissement into a pan African investment platform with interests spanning finance, mining, energy, telecommunications and industry.
Ouriagli died last Saturday in Paris at the age of 58 after suffering a sudden heart attack.
Kessar’s appointment takes effect immediately. She has spent most of her career within the group, initially at Attijariwafa Bank, where she was involved in the creation of Attijari Finances Corp, before joining Al Mada’s holding company as deputy chief executive.
She is a graduate of the École Polytechnique Fédérale de Lausanne and currently sits on the boards of several Al Mada subsidiaries.
Al Mada said the appointment ensures continuity in governance and strategy at a time when the group is expanding its industrial and energy investments in Morocco and sub Saharan Africa. T
he company added that Kessar will lead the group’s development in line with shareholder defined priorities, including long term growth and operational performance.
Al Mada is one of the country’s most influential investment groups, with a central role in major national and regional projects.
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