“This publication, which reflects the Strategic Directions of the PAE approved by the Council of Ministers chaired by His Majesty King Mohammed VI, may God Assist Him, dated June 1, 2024, follows the review of the Shareholder Policy of State during the Government Council which met on Thursday December 12, 2024, under the chairmanship of the Head of Government, Mr. Aziz Akhannouch”, indicates a press release from the Agency.
The State Shareholder Policy, the project of which and the related implementation plan were initiated by the ANGSPE, is part of the structuring projects of the reform of the sector of public establishments and enterprises (EEP) within the meaning of the framework law n°50-21 which states that this policy “translates the Strategic Directions and the overall objectives of State shareholding, its role in the governance of EEPs and the way in which he implements this policy.”
It is recalled in this regard that, in accordance with its creation law n°82-20, the ANGSPE is in charge of developing and then deploying the PAE. In this context, from the operationalization of the Agency in December 2022 led by Abdellatif Zaghnoun, anticipatory collaborative work was initiated in consultation with the ministerial departments concerned, regulatory bodies, public establishments and companies falling within the scope of the Agency. Agency, as well as representatives of the private sector, to determine the main guidelines of the PAE.
Now based on a solid vision, the State, as a shareholder, undertakes to guarantee the valorization of the assets managed by the EEPs in its portfolio and to place them in a logic of performance, transparency, transversality and synergies.
In addition, the State intends to work fully towards the consolidation of national sovereignty, the initiation of sectors of the future, the support of innovation as well as the preservation and strengthening of qualitative and accessible public services, all by positioning itself in complementarity with the private sector and strengthening partnerships with the latter.
In addition, the State shareholder aims to consolidate the role of the EEP in terms of socio-economic development by anchoring them as a major tool, alongside the private sector, in supporting sectoral and territorial policies, as well as in supporting the Kingdom’s international influence and improving its attractiveness.
Furthermore, it will ensure that governance is put in place to promote a fair balance between the various stakeholders and encourage both financial and non-financial performance.
As provided for in the above-mentioned decree, the State’s Shareholders’ Policy is structured around 15 axes which emanate from the 7 Strategic Orientations and which reflect the State’s shareholder strategy and the governance of the public portfolio.
These areas concern in particular the definition of the objectives of State shareholding, the sustainability and clarification of economic models, as well as the dynamic management of the public portfolio. They also include strengthening the transversality and convergence of the action of the EEPs, the definition of a responsible and transparent approach in the distribution of dividends while improving the eligibility and access of public establishments and companies to diversified sources of financing.
The axes of the PAE also concern the strengthening of the professionalization of the deliberative bodies of the EEP in terms of composition and mode of operation as well as the transformation of the modes of governance, in line with the shareholder strategy, and the harmonization of the action of the strategic State and the shareholder State in the governance of EEPs.
The implementation of the PAE by the ANGSPE will certainly mark a significant step forward towards optimized management of the State’s strategic participations which will involve the establishment of operationalization, governance and monitoring systems while taking into account increasingly rapid developments in the national and international context, marked by profound changes, which require agile strategic management of the EEP sector, making it possible to guarantee the strengthening of its economic and social efficiency.