Mamda, La Mutuelle agricole marocaine d'assurances, and MCMA, La Mutuelle centrale marocaine d'assurances, have acquired a 4.75% stake in Banque Centrale Populaire (BCP Group) for $245.5 million from IFC, member of the World Bank Group.
BCP is Morocco's second biggest lender.
The IFC bought its stake in the bank back in 2012.