The group’s press release, relayed by Le360 is clear: “On the basis of the decision taken by the Board of Directors on October 27, 2020, and in accordance with our approach to localization in the presence markets, the CFO was authorized to study and assess the strategic options for the subsidiaries of our company operating in the food distribution sector in Morocco and Egypt, including partnership alternatives with local or international investors ”.
The total turnover of the two subsidiaries corresponds to 6.3% of the consolidated turnover of the company, indicates the same source.
This announcement comes just a few weeks after the Moroccan government amended the Free Trade Agreement (FTA) which binds it to Turkey. This happens shortly after the Turkish retailer was ordered by the Minister of Trade and Industry, Moulay Hafid Elalamy, to “sell Moroccan or leave”, on the grounds that it was destroying the network of small businesses in Morocco, without having favored local production.
Since the brand’s installation in Morocco, BIM stores have been accused of unfair competition by local traders, with prices deemed excessively low. Each opening of a BIM store leads to the closure of 60 neighborhood businesses.
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