The Casablanca Stock Exchange has never looked so attractive to foreign investors. In 2023, international investment in Moroccan stocks surged to an impressive 168 billion dirhams, marking a 7.9% increase from the previous year. Despite a slight dip in their share of the total market capitalization—from 27.8% to 26.9%—foreign investments are demonstrating enduring confidence in the Moroccan economy, according to the latest report from the Moroccan Capital Market Authority (AMMC).
Sector spotlight: Top picks by foreign investors
International investors are heavily favoring specific Moroccan industries. Leading the pack is the electricity sector, with a substantial 85.8% controlled by foreign capital. Telecommunications and beverages follow, with foreign ownership reaching 55.5% and 52.7%, respectively. These strategic investments highlight the long-term value foreign stakeholders see in Morocco’s infrastructure and consumer-oriented sectors. In fact, strategic holdings now make up over 92% of all foreign investments in Moroccan stocks, signaling robust, stable commitments rather than short-term speculation.
Europe and the Middle East lead the charge
European and Middle Eastern investors are at the forefront of this investment wave, jointly accounting for a dominant 95% of the total foreign funds flowing into the Moroccan market. Together, they contribute more than 160 billion dirhams, with a slight uptick in European participation in 2023. This steady inflow reflects Morocco’s appeal as a stable and promising market, attracting major funds that seek to diversify their portfolios and capitalize on the region’s growth.
A bright future for Moroccan markets
As Morocco continues to modernize and diversify its economy, forecasts remain bright for further investment growth. The Moroccan stock market is evolving rapidly, with an increasing variety of sectors capturing investor attention and contributing to a resilient, balanced economy. For global investors seeking both stability and potential growth, Morocco is quickly solidifying its reputation as a prime destination.
