Moulay Hafid Elalamy: Visionary Businessman Behind Morocco's Largest Insurer

Moulay Hafid Elalamy grew Saham Group into Moroccos largest insurance provider, later selling its financial arm to Sanlam for 1.05 billion in 2018.

Elalamys leadership extended beyond insurance, with Saham diversifying into banking, healthcare, and outsourcing across 26 countries before its rebranding in 2022.

In 2024, Elalamy became Chairman of Teleperformance, marking a milestone as one of the first African leaders to head a publicly traded French company.

Moulay Hafid Elalamys rise from a young entrepreneur with big ambitions to the architect of Moroccos largest insurance company is a story of vision, bold decisions, and calculated risks. His ability to seize opportunities and turn them into industry-defining enterprises has shaped not just Moroccos insurance sector but also Africas broader financial and industrial landscape.

Born in 1960 in Marrakech, Elalamy showed an early knack for business and problem-solving. He pursued a degree in Information Systems at the Universit de Sherbrooke in Canada, gaining analytical skills that would later help him navigate complex financial landscapes.

His career began in Quebec, where he worked as a senior advisor at the Ministry of Finance, gaining insight into economic strategy and policymaking. He then moved into the private sector as Director of Information Systems at a major insurance firm, where he learned the intricacies of risk management and financial services.

But Elalamy wasnt content with climbing the corporate ladderhe wanted to build something of his own. After returning to Morocco, he joined ONA Group now Al Mada, one of the countrys largest investment firms. This experience gave him exposure to large-scale financial operations and set the stage for his most ambitious move yet: launching his own company.

In 1995, Elalamy founded Saham Group , starting with a modest insurance firm that would grow into a diversified corporate giant. Under his leadership, Saham expanded beyond insurance into banking, healthcare, and customer service outsourcing. Its flagship subsidiary, CNIA Saada, became Moroccos largest insurance provider, solidifying Elalamys reputation as a business leader with a keen eye for high-growth sectors.