Forafric Global

Positives: management is pruning non‑core or underused assets (Finalog logistics asset and a 240‑TPD durum mill) and ended a large related‑party wheat procurement agreement in March 2026, which could reduce perceived conflicts. Negatives: exploration of defense and energy platforms is far outside core competencies and risks capital misallocation.

Sale of a controlling interest in core Forafric Maroc introduces dependence on minority economics and counterparty execution. Historical free cash flow volatility and high leverage limit flexibility for value‑accretive buybacks or growth capex. Net, allocation is reactive and risk‑bearing, not compounding.