The year 2024 ended on a high note for companies listed on the Casablanca Stock Exchange, with solid revenue growth and record investment levels, according to BMCE Capital Global Research’s Q4 earnings report. The financial and industrial sectors were the driving forces behind this momentum, highlighting a strong recovery despite a complex global economic environment.
Total revenue for listed companies reached 311.1 billion dirhams ($31 billion), marking a 6% increase compared to 2023. This growth was fueled primarily by the financial sector, where net banking income surged by 12.4%. The industrial sector also demonstrated resilience, posting a 3.5% rise, while insurance companies reported a 3.9% uptick, thanks to robust performance in both property and savings segments.
Investment activity saw an exceptional rise in 2024, with capital expenditures (CAPEX) soaring to 27.8 billion dirhams ($2.8 billion), up 48% from the previous year. Mining giant MANAGEM significantly expanded its projects, while Maroc Telecom ramped up spending to strengthen its infrastructure. The healthcare sector, led by Akdital, also made substantial investments to support expansion and upgrade medical facilities.
However, this surge in investment came with an 8.8% increase in net debt, which reached 64.7 billion dirhams ($6.4 billion) by the end of 2024. Maroc Telecom was a major contributor to this rise, facing significant financial obligations alongside other companies that made aggressive investment moves to fuel their growth.
Looking ahead, 2025 is expected to be a pivotal year, with businesses sharpening their focus on innovation, cost optimization, and investment consolidation. With strong financial performances behind them, Casablanca-listed companies remain key players in Morocco’s economic landscape, further cementing the stock exchange’s role as a driver of growth and a magnet for investors.
