AFRIW Overview

Leadership Change: Khalid Assari has been appointed as Chairman of the Board for Forafric Global, effective April 4th, 2025, succeeding Saad Bendidi. Assari brings extensive experience in the agricultural sector and holds an MBA in finance.

Company Overview: Forafric Global is a prominent agribusiness in Africa, specializing in milling and exporting products like flour, semolina, pasta, and couscous to over 45 countries, with plans for continued expansion in Morocco.

Company Strategy: Forafric Global PLC is implementing a strategy focused on Morocco and soft wheat by divesting non-core assets, which is expected to generate between 80 and 100 million USD to strengthen its balance sheet and improve working capital.

Leadership Change: Mr. Khalid Assari has been appointed as the new CEO of Forafric Global PLC and its subsidiary Forafric Morocco, succeeding Mr. Mustapha Jamaleddine who retired at the end of 2024.

Compliance with Nasdaq: Forafric Global PLC received a notice from Nasdaq regarding non-compliance due to the late filing of its Six Month Report, but subsequently filed the report and confirmed compliance on January 16, 2025.

Company Overview: Forafric is a leading agribusiness in Africa, specializing in milling and exporting products like flour and pasta, with operations across Morocco and Sub-Saharan Africa, aiming to enhance food security in the region.