Companies listed on the Casablanca Stock Exchange wrapped up 2024 with a solid performance, reflecting a rebound in economic conditions and renewed investor confidence. According to data released by M.S.IN, a brokerage arm of Crédit Agricole du Maroc, total revenue for listed firms rose by 5.8%, reaching 326.7 billion dirhams, up from 308.8 billion in 2023. That’s an increase of nearly 17.9 billion dirhams in just one year.
This growth comes against a backdrop of sharply reduced inflation, which dropped to just 0.9% following two years of intense price pressure. The economic climate was further buoyed by the revival of major infrastructure, tourism, and sports projects, driven in part by Morocco’s preparation to host the 2025 Africa Cup of Nations and the 2030 FIFA World Cup. The construction and real estate sectors also gained momentum, supported by a new nationwide housing assistance program, which has given a strong push to property developers and contractors.
On the earnings front, the combined net profit of listed companies jumped 10.9%, totaling 36.8 billion dirhams. This impressive result came despite a significant hit from Maroc Telecom, whose profits plummeted to 1.8 billion dirhams—down from 5.3 billion the previous year. The drop was largely due to a legal dispute with Wana Corporate (Inwi), centered around a claim worth 6.4 billion dirhams.
Despite the ongoing legal tension, both telecom operators recently reached a strategic agreement to fast-track the rollout of fiber-optic networks and 5G across Morocco. This collaboration could reshape the national telecom landscape and aligns with the country’s broader ambitions for digital transformation.
All in all, the Casablanca Stock Exchange demonstrated notable resilience in 2024. Supported by improving macroeconomic visibility, a renewed wave of investment projects, and stabilizing prices, the market continues to regain its footing and chart a path toward sustained growth.
