Forafric Global appoints Khalid Assari as Chairman
Assari steps into the role during a pivotal period for the company, marked by a strategic initiatives aimed at enhancing its operations and financial position.
MOROCCO – Forafric Global PLC, a Morocco-based agribusiness powerhouse, has appointed Khalid Assari as Chairman of the Board effective April 4, 2025, succeeding Saad Bendidi.
Assari’s elevation to Chairman follows his recent tenure as CEO, a position he assumed after Mustapha Jamaleddine’s retirement on December 31, 2024.
His background in agribusiness leadership includes senior roles at Caisse de Dépôts (CDG Group), and he holds an MBA in Finance from Old Dominion University in Virginia, USA.
“I am honored to take on the role of chairman and look forward to working closely with the board and leadership team to advance Forafric Global’s mission and strategic goals,” said Assari.
Assari steps into the role during a pivotal period for the company, marked by a strategic initiatives aimed at enhancing its operations and financial position.
Forafric Global currently operates 12 industrial units and two logistics platforms, supplying flour, semolina, pasta, and couscous to over 45 countries. The company remains committed to its growth strategy both in Morocco and across Africa, with the broader goal of strengthening food security throughout the continent.
In February 2025, the company announced a major restructuring strategy aimed at strengthening its balance sheet with a focus on Morocco and soft wheat operations.
Key elements include the planned divestiture of non-core assets, specifically businesses outside of Morocco, those centered on durum wheat, and certain Moroccan logistics operations.
The expected proceeds of US$80–US$100 million from these divestments are earmarked to improve Forafric’s working capital and operational flexibility.
Complementing this financial strategy is Forafric’s recent investment in milling infrastructure. The company recently expanded its wheat processing capacity by 370 TPD with the commissioning of two advanced flour mills: a 120 TPD mill at Sanabil and a 250 TPD mill at Moulins De Had Soualem, both installed by global food technology provider Alapala.
Further boosting its production capacity, Forafric signed a 10-year renewable lease in May 2024 to operate an existing milling facility in Morocco’s Meknes-Fes region. This facility adds another 600 TPD to the company’s daily crushing capabilities.
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