A Historic Milestone: Casablanca Stock Exchange Surpasses MAD 1 Trillion
Casablanca Stock Exchange achieves a historic market capitalization milestone worth MAD 1 trillion, elevating Morocco's economic stature.
The Casablanca Stock Exchange achieved a monumental milestone as its market capitalization reached an extraordinary MAD 1 trillion (US$100 billion) for the first time. The lift to this remarkable position was led by an impressive surge in the MASI index, which closed the day at 19,168.83 points, cementing its place in history.
A Day of Triumph on the Exchange
Marrakech witnessed a wave of excitement as the trading floor buzzed with activity, recording robust transactions totaling MAD 466 million (US$46.6 million) on the central market. Attijariwafa Bank was at the forefront, leading the charge with a 3.57% gain. Similarly, Maroc Telecom surged by 2.54%, showing promising prospects.
The Rising Stars
Among the standout performers was the medical equipment company Vicenne, a relatively new player on the exchange. Vicenne’s stock price soared by an astounding 46% after going public, becoming a beacon of enthusiasm for investors. Other companies like Maghreb Oxygène and Sothema also recorded significant gains, further fueling investor optimism.
Underlying Economic Pulse
This phenomenal rally occurs amidst Morocco’s favorable economic conditions, with the country’s economic growth accelerating to 4.8% in the first quarter of 2025. Noteworthy contributions arose from substantial infrastructure projects, enhanced cement sales, and a flourishing automotive industry, as stated in Morocco World News.
Challenges and Hopes
Despite widening trade deficits from increased imports, the services sector’s growth, driven by tourism, provides a positive counterbalance. Inflation exhibits a positive downward trend, with food prices playing a critical role in this encouraging economic environment. Morocco’s central bank has wisely chosen to hold the key interest rate at 2.25%, signifying prudence amid international uncertainties.
A Firm Grip on Finances
Finally, the public finances of Morocco remain stable, with projections estimating a budget deficit of 3.9% for 2025. This economic balance is further strengthened through rigorous management of expenditures and enhanced tax revenues.
The day ends on a high note, marking a proud moment for Morocco as the Casablanca Stock Exchange continues its journey of growth and prosperity, echoing a future full of possibilities.
