Moroccan billionaire Moulay Hafid Elalamy buys Swedish lender to target Europe’s bad-loan market

Moroccan billionaire Moulay Hafid Elalamy has acquired a majority stake in Swedish credit institution Arktika Capital AB, a move that gives him direct exposure to Europe’s expanding market for distressed and non‑performing loans, Business Insider Africa reported on 24 May 2026. The purchase, first reported by Africa Intelligence, positions Elalamy’s Saham Group inside a regulated European financial vehicle that buys, manages and recovers value from defaulted loan portfolios across the continent.

"Industry executives at the NPL Europe 2026 conference in London warned recently that a growing number of so‑called 'Stage 2' loans, debt showing early signs of deterioration, could soon move deeper into distress territory."

Context and deal details

Arktika Capital AB is a Swedish licensed credit institution that purchases non‑performing and distressed loans from banks and other financial institutions at discounted prices, then works to recover value over time. The business model is combined with a smaller retail savings arm, Arktika Spar, which offers fixed‑term savings accounts to Swedish customers and supplies a stable funding base for longer recovery timelines.

• Buyer: Moulay Hafid Elalamy, chairman of Saham Group and 66 years old.
• Target: Arktika Capital AB, a Swedish credit institution focused on distressed loan portfolios and retail savings via Arktika Spar.
• Rationale: Exposure to Europe’s growing bad‑loan market as higher borrowing costs and slowing growth increase repayment stress.
• Reporting: Deal reported by Africa Intelligence and covered by Business Insider Africa.

The acquisition deepens Elalamy’s drive into regulated financial assets in Europe and follows a series of international moves since he sold Saham’s African insurance operations to Sanlam in 2018. He has since pivoted into banking, technology and international financial services: he re‑entered Moroccan banking with the acquisition of Société Générale Maroc, now rebranded as Saham Bank, and has been increasing his stake in Teleperformance (now branded TP), becoming one of its key shareholders through market purchases and equity‑linked transactions.

According to Forbes, Elalamy’s fortune is estimated at around $2.1 billion. Business Insider Africa notes that the Swedish purchase adds a regulated European institution to his portfolio at a time when investors are targeting distressed assets across major markets such as Germany and France, where banks are preparing for a protracted period of weak growth and elevated borrowing costs.

Outlook

Analysts and industry participants at NPL Europe 2026 have highlighted the growing pipeline of early‑stage stressed loans and warned they may migrate into deeper distress, creating inventory for specialised buyers. For Elalamy, Arktika Capital represents a strategic foothold in that market: the combination of distressed debt investing and a deposit base via Arktika Spar could support extended recovery horizons and generate outsized returns for investors willing to endure lengthy restructurings and regulatory complexity.

The move also underscores a broader trend of wealthy African investors acquiring strategic assets in Europe, as financial stress in advanced economies creates opportunities for outside capital willing to navigate recovery timelines and local regulation.