3 articles · Updated · billionaires.africa · Jun 24
Summary
Morocco refused to nationalize the collapsed SAMIR refinery, keeping the dormant asset out of state hands despite its central role in the country’s fuel-policy debate.
Fiscal risk drove the decision: the government said taking over the bankrupt refinery would expose public finances to an excessive burden.
That leaves Morocco’s fuel market reliant on imports for now, with the distributors that dominate supply facing no immediate disruption.
SAMIR is owned by Ethiopian-born billionaire Mohammed Al-Amoudi, making the ruling a notable setback for efforts to revive the refinery through state intervention.