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Family HoldingAllocates capital directlyLAST VERIFIED Oct 2026 · 7 SOURCES

Saham

Private investment company owned by the Elalamy family, founded 1995 by Moulay Hafid Elalamy; Casablanca and Dubai; holds Saham Bank, Arktika Capital, IEG, Saham Immobilier and Medjool Star.

USEFUL FOR Business owners seeking a long-term partner · Co-investors

Family & background

FAMILY
Elalamy
WEALTH ORIGIN
Insurance (Saham Finances, sold to Sanlam in 2018) and customer-service outsourcing (Majorel)
HEADQUARTERS
Casablanca, Morocco
OFFICES
Dubai, United Arab Emirates (DIFC)
FOUNDED
1995

Investment approach

SECTORS
FintechReal Estate & PropTechEducationFood & Agriculture
GEOGRAPHY
MoroccoEurope
ROUTES
Direct investments
STRATEGIES
Direct investmentsPrivate equity

Overview

Saham was founded in 1995 by Moulay Hafid Elalamy and is a private investment company owned by the Elalamy family, with offices in Casablanca and Dubai (DIFC). It grew in insurance, selling its insurance arm to Sanlam in 2018, and built Majorel, sold to Teleperformance (TP) in 2023. Its five current holdings span financial services (Saham Bank, formerly SGMB, majority acquired in 2024; Arktika Capital, a Swedish NPL credit institution created in 2025), customer experience (TP), real estate (Saham Immobilier), education (IEG) and agriculture (Medjool Star).

Investment thesis

International investment company focused on building businesses, turnarounds and brand repositioning, backing management over the long term; since 2018 it has refocused on financial services, outsourced services, real estate, education and agriculture.

Holdings & investments (8)

  • Saham Bank (formerly SGMB)NOTABLE
    Fintech · since 2024
  • Arktika Capital
    Fintech · since 2025
  • TP (Teleperformance)
    since 2019
  • IEG
    Education · since 2015
  • Saham Immobilier
    Real Estate & PropTech · since 2014
  • Medjool Star
    Food & Agriculture
  • Saham Finances (insurance)
    Exited
  • Majorel
    Exited

People

  • Fadwa Ben Saad
    Chief Financial Officer and Head of Asset Allocation · source
  • Rim Bensouda
    Chief Asset Management Officer · source
  • Vignesh Vijayakumar
    Head of International Investments · source
  • Moulay Hafid Elalamy
    Chairman and Founder · source
  • Moulay Mhamed Elalamy
    Chief Executive Officer · source
  • Reda Bennani
    Chief Operating Officer · source
  • Moulay Abdelaziz Elalamy
    Director, Special Advisor to the CEO · source
  • Abdelhalim Fadil
    Director in charge of banking supervision · source

Classification

Family Holding. A family's holding company that owns stakes in several separate businesses or invests beyond its own group, without calling itself a family office. How family capital is classified →

FAQ

Saham is a family holding based in Casablanca, Morocco, founded in 1995.

Saham invests on behalf of the Elalamy family (Insurance (Saham Finances, sold to Sanlam in 2018) and customer-service outsourcing (Majorel)).

Saham invests directly in companies. Its stated asset mix includes direct investments and private equity.

Saham invests in Fintech, Real Estate & PropTech, Education and Food & Agriculture.

Key people at Saham include Moulay Hafid Elalamy (Chairman and Founder), Moulay Mhamed Elalamy (Chief Executive Officer), Fadwa Ben Saad (Chief Financial Officer and Head of Asset Allocation) and Reda Bennani (Chief Operating Officer).

Saham's holdings and investments include Saham Bank (formerly SGMB), Arktika Capital, TP (Teleperformance), Saham Immobilier, IEG, Medjool Star, Saham Finances (insurance) and Majorel.