Casablanca’s stock exchange has widened its lead over other North African markets, cementing Morocco’s dominance in regional market capitalization. According to the latest African Business rankings, 15 of the 20 largest listed companies in the Maghreb are Moroccan.
Attijariwafa Bank tops the list by a wide margin, with its market value soaring from $10.8 billion to $15.6 billion in just one year, reinforcing its position as the biggest publicly traded company in North Africa. Maroc Telecom holds on to second place, its capitalization climbing to $11.1 billion from $8.7 billion.
Mining giant Managem ranks third, followed by Banque Centrale Populaire, port operator Marsa Maroc—which plays a pivotal role in Tanger Med’s growth—and TAQA Morocco, a key electricity producer.
Egypt’s Commercial International Bank is the highest-ranked non-Moroccan company, landing in seventh place. While it remains Cairo’s largest listed firm, its market value trails far behind Morocco’s financial heavyweights.
Other Moroccan companies in the top 20 include LafargeHolcim Maroc, construction group TGCC, healthcare provider Akdital, Bank of Africa, Ciments du Maroc, sugar producer Cosumar, real estate developer Addoha, and insurer Wafa Assurance.
With three-quarters of the region’s biggest listed companies now based in the kingdom, Morocco has left its North African rivals in the dust, tightening its grip on the region’s financial leadership.
