This chapter includes the following articles.
After several years of decline due to liquidity shortages, a high current account deficit and reduced export demand from Europe, Morocco’s bourse is growing again, with its market capitalisation rising significantly in 2014 and early 2015. Trading is concentrated in a small number of companies and investors – the 10-most-traded shares made up three-quarters of transactions in 2014, carried out mostly by institutional investors. Faced with a slim listings pipeline and low levels of secondary trading in recent years, market authorities are working on the launch of a range of reforms and new products designed to reinvigorate capital markets activity at a time when liquidity is returning to the wider economy.
This chapter contains an interview with Karim Hajji, CEO, Casablanca Stock Exchange; and a viewpoint from Younes Benjelloun, Partner and CEO, CFG Group.