Morocco is still seen as the safest country in Africa to do business, according to the 2026 Country Risk Atlas by Allianz Trade.
The group kept Morocco’s rating at B1, meaning it remains the most stable market on the continent for investors. This comes at a time when many countries saw changes to their ratings in 2025, as the world faces trade disputes, political tensions and pressure on government budgets.
Allianz Trade said Morocco has a strong and steady economic base, even as the global economy remains uncertain.
The report says Morocco has built itself into an industrial base that works closely with Europe. It also wants to become a key energy hub in the region. The economy is expected to grow by 3.7% in 2026 and 3.5% in 2027. Growth should be supported by factory output, foreign investment and a recovery in farming.
Tourism is another big support for the economy, helped by major international sports events. Phosphate exports have picked up again, and the car industry continues to perform well.
The central bank has kept interest rates steady and plans to allow the dirham to move more freely in the future. Public debt is expected to fall to 65% of GDP by 2027.
But there are still challenges. Late payments are causing problems for businesses in retail, property and construction. Youth unemployment remains high, and the informal economy is still large. Social protests have also pushed public spending higher.
Allianz Trade said that in today’s uncertain world, countries need to manage risks carefully. Morocco’s direction remains positive, it said, but the country will need to keep investing, diversifying its economy and focusing on renewable energy.
