The IFC’s investment is set to play a pivotal role in BLS's expansion plans, which include the construction, extension, and acquisition of warehouse facilities across various Moroccan cities. This initiative is projected to create around 500 new jobs by 2030, directly addressing the need for modernization and professionalism in domestic transportation and logistics services.

By enhancing access to markets and services, this project is expected to lower costs for businesses and individuals alike, thus stimulating economic growth and improving overall efficiency within the logistics sector.

The investment agreement was formalized on the sidelines of the International Monetary Fund-World Bank Group 2024 Annual Meetings, marking a significant partnership between IFC, BLS, and STOA, an impact fund that has also recently acquired a minority stake in BLS.

In his statement, Moncef Belkhayat, CEO of H&S Invest Holding and the majority shareholder of BLS, emphasized that IFC's investment “demonstrates the confidence of international financial institutions in the Moroccan private sector.”

“Today, Morocco is regarded as the leading African destination for investment fund returns,” Mr. Belkhayat expressed, noting that this confidence is a result of the Kingdom's macroeconomic policies, the stability of economic indicators, and the stability of the dirham.

He also highlighted that this investment, allocated in Moroccan dirhams—further reflecting trust in the national currency—will be used to develop ten logistics platforms in Morocco, including one in Laâyoune, and to generate significant employment opportunities.

Mr. Belkhayat also pointed out that this investment reinforces the private sector's support for the government's efforts in preparing the necessary infrastructure, particularly for the organization of the 2030 World Cup.

IFC’s Vice President for Africa, Sérgio Pimenta, highlighted the significance of this investment for the Moroccan logistics sector. “We can count on the dynamism and strategic vision of its Chairman, Moncef Belkhayat, to execute this plan with efficiency, a sense of customer service, operational and financial performance, and the Group's responsibility to environmental and social issues. We will contribute with all our expertise to support BLS in this adventure, which is first and foremost a human one” he noted.

Over the past three fiscal years, IFC has committed and mobilized approximately $1.3 billion in Morocco, with nearly $600 million already dedicated this fiscal year alone to promote the country’s development objectives. For over six decades, IFC has collaborated with Morocco’s public and private sectors, driving growth across key industries, including infrastructure, finance, and agribusiness. These investments have been essential in establishing Morocco as a regional hub for international trade and connectivity.