Shareholding

Tanger Med Special Agency (TMSA), established by decree-law No. 2-02-644 dated 10-09-2002, and amended in 2006 by Law No. 18-05 extending TMSA’s scope of action beyond the special zone, is a public limited company governed by a Supervisory Board and a Management Board. It has been vested with public prerogatives, including public authority missions over the port and free zones, in accordance with applicable common law provisions.

TMSA Holding defines the Group’s strategic policy and guides the development of its subsidiaries and participations. It oversees the Group’s policies regarding financing, human resources, legal monitoring, internal control, risk management, digital transformation, and communication.

With a view to sustainable and responsible performance, the Holding also ensures that all its business lines adhere to proactive principles related to its social and environmental responsibility and good governance practices.

TMSA Holding is a public limited company with a share capital of MAD 3,795,079,100. Its shareholding structure is as follows: 87.5% held by the Hassan II Fund for Economic and Social Development, 12.38% by the State, and 0.12% by the Caisse de Dépôt et de Gestion (CDG).

Supervisory Board

Mission

The Supervisory Board of the Tanger Med Special Agency constitutes the highest governing body of the structure. It defines the Group’s major strategic orientations and oversees the management conducted by the Management Board.

Since January 2014, Mr. Fouad BRINI has served as Chairman of the Supervisory Board.

After gaining experience at Control Data France and IBM, Fouad Brini joined the BULL Group, where he was responsible for studying and implementing several IT solutions for major organizations.

In 1992, he left the multinational company to create and develop several companies in the IT and telecom sectors over nearly 14 years, contributing to the realization of several information system projects for ministries, as well as large public and private institutions.

In 2006, he was appointed by His Majesty King Mohammed VI as General Director of the Agency for the Promotion and Economic and Social Development of the Prefectures and Provinces of Northern Morocco.

In 2006, Fouad Brini joined Tanger Med Special Agency (TMSA) as a member of the Supervisory Board and Administrator of the Group’s subsidiaries.

Four years later, he was appointed Administrator of the Port Redevelopment Company of Tangier City (SAPT).

In January 2014, Fouad Brini was appointed by His Majesty King Mohammed VI as Chairman of the Supervisory Board of Tanger Med Special Agency, a role he continues to hold to this day.

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Composition

Members of the Supervisory Board are appointed by the Ordinary General Shareholders’ Meeting for a five-year term and may be re-elected in accordance with the bylaws.

Mr. Fouad BRINI

Chairman of the Board of Directors

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Mr. Abdelouafi LAFTIT

Minister of the Interior

Ms. Nadia FETTAH ALAOUI

Minister of Economy and Finance

Mr. Nizar BARAKA

Minister of Equipment and Water

Mr. Ryad MEZZOUR

Minister of Industry and Commerce

National Agency for the Strategic Management of State Holdings (ANGSPE)

Represented by Mr. Abdellatif ZAGHNOUN

Hassan II Fund for Economic and Social Development

Represented by Ms. Dounia BEN ABBES TAARJI

Deposit and Management Fund (CDG)

Represented by Mr. Khalid SAFIR

Agency for the Promotion and Development of the Prefectures and Provinces of the North (APDN)

Represented by Mr. Mounir EL BOUYOUSSFI

Specialized Committees

TMSA Holding has four Specialized Committees supporting the Supervisory Board in its control and supervision roles. These committees cover audit and risk management, strategy and investment, nomination and remuneration of board members and employees, as well as Corporate Social Responsibility (CSR).

Responsibility

The Audit and Risk Committee assists the Supervisory Board and makes recommendations to the Board, for the company and its subsidiaries, regarding internal control, financial statement review, risk management, and financial reporting.

Ms. Dounia BEN ABBES TAARJI

Chairwoman, representing the Hassan II Fund for Economic and Social Development

Mr. Mounir EL BOUYOUSSFI

Member, representing APDN

Mr. Khalid ZIANE

Member, Managing Director of FIPAR-Holding

Mr. Khalid EL HATTAB

Member, representing ANGSPE

Responsibility

The Strategy and Investment Committee assists the Supervisory Board in defining the Group’s strategic orientations and ensuring their implementation. It also reviews investment programs and budgets, and provides opinions on various options and proposals to be submitted to the Supervisory Board.

Mr. Fouad BRINI

Chairman, Chairman of the Supervisory Board

Mr. Nizar BARAKA

Member, Minister of Equipment and Water

Ms. Dounia BEN ABBES TAARJI

Member, representing the Hassan II Fund for Economic and Social Development

Mr. Abdellatif ZAGHNOUN

Member, representing ANGSPE

Mr. Mounir EL BOUYOUSSFI

Member, representing APDN

Responsibility

The NRGC assists the Supervisory Board in applying good governance practices and reviews the Company’s nomination and remuneration policies, as well as those defined for the Board members.

Mr. Khalid SAFIR

Président, représentant la CDG

Mr. Fouad BRINI

Member, Chairman of the Supervisory Board of TMSA

Ms. Dounia BEN ABBES TAARJI

Member, representing the Hassan II Fund for Economic and Social Development

Mr. Khalil LAKBAKBI

Member, representing ANGSPE

Responsibility

The CSR Committee is tasked with making recommendations or proposals to the Supervisory Board regarding the definition and implementation of policies related to the environment, societal actions, and good governance practices within the Group.

Mr. Mounir EL BOUYOUSSFI

Chairman, representing APDN

Mr. Fouad BRINI

Member, Chairman of the Supervisory Board of TMSA

Ms. Dounia BEN ABBES TAARJI

Member, representing the Hassan II Fund for Economic and Social Development

Ms. Mouna ABROUQ

Member, representing ANGSPE

Management Board

The Management Board ensures the management of Tanger Med Special Agency and oversees the implementation of the strategic directions set by the Supervisory Board.

Members are appointed by the Supervisory Board for a six-year term and may be re-elected according to the bylaws.

Internal Committees

Five internal committees assist the Management Board in implementing the Group’s management processes and act according to the delegations from the Governing Body. These committees are:

  • COMEX
  • Business Units Follow-up Committee
  • Human Resources Committee
  • Digitalization Committee
  • Internal CSR Committee

These internal committees may include members of the Management Board, CEOs of subsidiaries, and relevant business or support function managers.

Code of Ethics

Our ethical principles formalize our moral, ethical, and professional values—they are everyone’s responsibility. Beyond the internal procedures that govern the operational and administrative functioning of our Group, the integrity and proper conduct of our human resources are essential levers for the sound management of our activities.

In this context, the Group has established a Code of Ethics addressed to all employees, business partners, and other stakeholders. This Code serves as a clear reference in terms of ethical and professional behavior, enabling them to adopt a shared code of conduct aligned with our guiding principles and applicable to the various situations and challenges they may face.

Our ethical principles are based on the values of Integrity, Respect, Transparency, and Social and Environmental Responsibility. These principles are embodied in 13 key commitments upheld by the Group—as a regional development actor, as a company, and as an employer. Our employees adhere to and uphold these principles in the course of their daily responsibilities.