The dismissal of Moroccan Finance Minister Mohamed Boussaid on 1 August and his replacement on a long-term basis by Islamist Minister Abdelkader Amara, who heads the Ministry of Equipment and Transport, is a tectonic consequence of the marriage, which is as endless as it is uncertain. between Sanlam and Saham.
Announced for several months but still waiting for green light from the regulatory authorities, the deal valued at $ 1 billion was wrongly tainted and because of a presumed proximity between the now former finance minister and his counterpart in the industry and Commerce, Moulay Hafid Elalamy, founder and majority shareholder of Saham.
Indeed, indicates the site 360.ma, deemed close to the Royal Palace, “Mohamed Boussaid would have shown lightness in the tax treatment of this sale. Coming from the same political party (RNI) as Moulay Hafid Elalamy, the now former Minister of the Economy and Finance would have made a flower to his friend by making him take advantage of a derogatory tax measure establishing the principle of exemption from royalties. registration on the sale of shares or shares and introduced in the last draft of the 2018 Budget Law. A sleight of hand which caused a loss of profits to the State coffers in the amount of 420 million dirhams, about 42 million euros “. Simple speculation, as has been retorted to Financial Afrik?
In any case, until then, the Insurance and Social Security Control Authority (ACAPS-independent) has not yet given the official green light to the operation. In addition, the time required to decide on the admissibility of the file have been exceeded, says the 360.ma.
Note that the announcement of the dismissal coincided with the issuance on the same day of a major exchange transaction by Saham and suggesting that the group has already obtained the green light, preparing to pocket the proceeds of the sale. assignment. Would Minister Mohamed Boussaid intervene in obtaining the still unofficial approval? If this were the case, Moulay Hafid Elalamy, the iconic Minister of Industry, Trade, Investment and the Digital Economy would only sleep with one eye.