Chakib Ben El Khadir Managing Director Stokvis

The rising tide of economic development sweeping across Morocco is lifting firms like Stokvis Nord-Afrique to a new level of success. A leading importer and distributor of industrial machinery, Stokvis is developing new markets in new sectors while maintaining its position in agricultural, logistics, motor, HVAC and distribution equipment.

Before making its entry into the Casablanca Stock Exchange in 2007, Stokvis used its internal resources to quadruple sales from $20 million to $80 million in four years. Chakib Ben El Khadir, President and Member of the Board of Stokvis Nord-Afrique, attributes this growth to the economic policies pursued by King Mohammed VI, which have increased the demand for roadway and public works equipment. Mr. El Khadir believes that agricultural privatization has also driven the need to increase productivity in that sector, particularly when “the private sector is encouraged by significant state subsidies that naturally boost demand and purchases for agricultural equipment.”

With a long history of providing equipment to Morocco’s leading industries, Stokvis is well positioned to benefit in tandem with the general economic expansion in the kingdom. “Today, we’re a leader in distributing mining and public works equipment. As you know the global demand for minerals is constantly growing, so much that there are more and more major projects in Morocco” said Mr. El Khadir. “We’re already taking full advantage of that growth.”

Morocco’s growing need for sustainable development is also creating new opportunities for Stokvis. CM2D, a Stokvis subsidiary dedicated to sustainable development technologies, has partnered with Groupe Fadia to develop Sorgho Biomasse, an integrated pulp, paper and energy plant. Combining biomass with paper production supports the entire value chain, from agriculture to processing to finished products. Using the stalks of a drought-tolerant grass that is well-adapted to the arid Moroccan climate, the Sorgho Biomasse complex “is one response to our basic problems in terms of energy needs and the management of organic wastes,” says Mr. El Khadir.