Forafric Global Business Summary

Forafric Global PLC (AFRI) operates as a vertically integrated agribusiness leader specializing in the industrial-scale processing, branding, and distribution of wheat-based products across Africa and international markets. The company generates revenue primarily through the high-volume sale of soft wheat flour, semolina, pasta, and couscous, leveraging a network of 12 industrial units and two major logistics platforms. As of early 2026, the firm has executed a strategic pivot to divest non-core durum wheat and international assets to concentrate resources on its dominant soft wheat operations in Morocco, where its flagship brands Maymouna and Tria maintain significant market share. Forafric competes directly with regional players like Dari Couspate and global food processing giants such as Post Holdings, Bridgford Foods, and JBS, positioning itself as a specialized, high-efficiency regional champion focused on food security and staple commodity processing in the Maghreb and Sub-Saharan regions. The company is currently led by Khalid Assari, who serves as both Chief Executive Officer and Chairman of the Board following a leadership transition in early 2025. Assari brings extensive institutional pedigree from his tenure at Caisse de Dépôts (CDG Group) and holds an MBA in finance from Old Dominion University. He is supported by Chief Financial Officer Julien Benitah and Chief Technology Officer Mustapha Ghazali, who oversee the firm's complex industrial operations and capital allocation strategies. The company’s institutional backing includes notable investors such as Lighthouse Capital Ltd., Oasis Management Co. Ltd., and Geode Capital Management, while its board features seasoned professionals like Ira Greenstein and Paul Packer. This leadership team is focused on optimizing the company's balance sheet through its 2025-2026 divestment program, aiming to enhance shareholder value by streamlining the core Moroccan milling business.