Welcome to our dedicated page for Forafric Global Ord news (Ticker: AFRI), a resource for investors and traders seeking the latest updates and insights on Forafric Global Ord stock.
Forafric Global PLC (NASDAQ: AFRI) is a vertically integrated agribusiness serving Africa, with activities in Morocco and Sub-Saharan Africa and exports to more than 45 countries. Its news flow centers on the milling industry, where the company produces a complete range of flour and semolina and secondary processing products such as pasta and couscous.
News about Forafric often highlights capacity expansion and strategic projects. The company has announced agreements to extend existing mills, construct new mills, and lease additional milling facilities in regions of Morocco, all aimed at increasing wheat and durum processing and crushing capacity. It has also reported acquisitions in soft wheat milling, including a majority stake in a Marrakesh-based mill, as part of its objective to expand crushing capacity in Morocco.
Investors following AFRI news can also expect updates on operational performance and supply, such as record high crushing volumes of soft wheat in Morocco and commentary on wheat procurement and inventory levels. The company has issued business updates describing its processing volumes and its ability to secure wheat supply in African regions.
Forafric’s news stream additionally covers corporate and financial developments, including leadership transitions at the CEO and board level, balance sheet strengthening initiatives with a Morocco and soft wheat focus, and communications about listing rule compliance with Nasdaq. For an overview of these themes—capacity growth, acquisitions, operational metrics, and corporate governance—this news page aggregates AFRI-related press releases and market updates in one place.
Forafric Global (Nasdaq: AFRI), a leading vertically integrated agribusiness serving Africa, announced a leadership transition with the appointment of CEO Khalid Assari as Chairman of the Board, effective April 4th, 2025. Assari, who replaces Saad Bendidi, brings experience from senior positions at Caisse de Dépôts (CDG Group) and holds an MBA in finance from Old Dominion University.
Forafric Global PLC (NASDAQ: AFRI) has announced a new strategic initiative focused on strengthening its balance sheet through concentration on Morocco operations and soft wheat business. The company plans to divest non-core assets, including operations outside Morocco, durum wheat businesses, and logistics activities in Morocco. This divestment program is expected to generate gross proceeds between $80-100 million, aimed at improving the company's working capital position.
Additionally, the company has appointed Khalid Assari as CEO of both Forafric Global and its wholly-owned subsidiary, Forafric Morocco, replacing Mustapha Jamaleddine who retired on December 31, 2024. Assari previously served as CEO of Forafric Morocco from 2016 to 2018 and has recent experience as an investor in Morocco's real estate and agrobusiness sectors.
Forafric Global PLC (Nasdaq: AFRI), an African agribusiness company, has resolved its compliance status with Nasdaq. The company initially received a notice of non-compliance on January 14, 2025, for failing to file its second quarter financial report (Form 6-K) by the December 31, 2024 deadline, violating Listing Rule 5250(c)(2). Forafric promptly addressed this issue by submitting the required Six Month Report to the SEC on January 16, 2025, after which Nasdaq confirmed the company's return to compliance status on the same day.
Forafric Global PLC (Nasdaq: AFRI) announced a 10-year renewable lease agreement to operate a milling facility in Morocco, expecting to increase crushing capacity by 600 tons per day. The expansion will boost milling capabilities by 470 tons of soft wheat and 130 tons of durum, positioning the company for growth with low capital investment. Saad Bendidi, Chairman of Forafric, highlighted the strategic location and equipment quality of the facility, aiming to optimize operations and add value. Transition to Forafric's operations is projected for the third quarter of 2024.
Forafric Global PLC (NASDAQ: AFRI) reports record high crushing volume, processing over 276,000 Metric Tons of soft wheat in Morocco for H1 2022. Excluding new capacity, volumes reached 241,000 MT, a 9% increase from last year and 38% from pre-COVID 2019 levels. The company maintains 2.5 to 3 months of inventory, showcasing its robust supply chain management amid global market instability, especially due to the Ukraine conflict. Forafric aims to expand its capacity and footprint in Morocco and Africa to enhance food security.
Forafric Global PLC (NASDAQ: AFRI) has announced a significant partnership with Alapala Foreign Trade LLC to expand its milling operations in Morocco. The agreement involves upgrading three existing mills and constructing three new mills, anticipated to boost wheat and durum processing capacity by 2,370 metric tons per day within 30 months. The total investment for this expansion is approximately one billion Moroccan Dirhams (about US$101 million). The initiative aims to enhance production and strengthen Forafric's market presence in Morocco and Sub-Saharan Africa.
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