HomeLatest Updates

BLS to receive US $37M boost

BLS to receive US $37M boost

The International Finance Corporation (IFC) recently announced a $37 million investment in Building Logistics Services S.A. (BLS), a key logistics ope

Huawei to invest Sh30Bn in technology in Africa, Middle East
Pargo to expand to Egypt
RAM, Vivo Energy launch first Morocco-Europe flight with SAF

The International Finance Corporation (IFC) recently announced a $37 million investment in Building Logistics Services S.A. (BLS), a key logistics operator in Morocco, to support the company’s growth strategy and strengthen Morocco’s position as a regional logistics and trade hub.

The IFC’s local-currency equity investment, equivalent to MAD 363 million, aims to support BLS’s expansion by helping finance new warehouse facilities across various Moroccan cities, which is projected to create approximately 500 jobs by 2030.

Investment

BLS, majority-owned by H&S Invest Holding, offers freight forwarding, transit, and third-party logistics (3PL) services at ten Moroccan warehouse facilities. IFC will now hold a minority stake in BLS, joining STOA, an impact fund that acquired a 20% stake in the company in 2023.

This investment is part of IFC’s ongoing efforts in Morocco, which over the last three years alone have reached $1.3 billion. This initiative aligns with the World Bank Group’s Country Partnership Framework for Morocco, focusing on private sector-driven growth in critical infrastructure sectors. This partnership is expected to modernize Morocco’s logistics services, enhance market accessibility, and reduce business costs, reinforcing Morocco’s role as an international logistics hub.

Moncef Belkhayat, CEO of H&S Invest Holding, highlighted IFC’s support in fast-tracking BLS’s growth and commitment to ESG principles. Marie-Laure Mazaud, CEO of STOA, expressed confidence in BLS’s strategic vision and commitment to environmental and social responsibilities. IFC’s Sérgio Pimenta noted that the investment would enhance competitiveness in Morocco’s logistics sector, making supply chains more efficient.