After a slowdown in recent years, Morocco’s construction industry saw a return to growth in 2014 and continues to be driven by strong demand for housing, public spending on infrastructure and investor incentives from the Ministry of Housing and Urban Policy – though constraints on credit access are restricting the volume of new developments. A unified construction code designed to raise...
Signs of recovery have lately emerged in Morocco’s industrial sector, which has been affected by a slowdown in trade in recent years – growth in value-added processing (excluding oil and refining) rose from 0.8% in 2013 to 1.8% in 2014. While subsectors like aeronautics and automotive have made big strides over the past decade, others like textiles and pharmaceuticals have lagged behind,...
The second-largest in Africa and 53rd-largest in the world by total premiums, Morocco’s insurance market is dominated by the non-life segment, and in particular by compulsory automobile insurance. Plans to make other forms of insurance mandatory are in the works but have yet to be implemented. Market share is concentrated in the hands of a small number of mostly local firms, although foreign...
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...
One of the most-developed in Africa, Morocco’s banking sector is home to some of the continent’s largest banks, several of which have become major regional players and continue to expand their African footprint. Penetration is rising rapidly as product offerings continue to evolve, most notably through a banking law passed in early 2015 that has set the stage for fully sharia-compliant banks....
With steady GDP growth and consistently low inflation, Morocco’s economic performance has both diversified and strengthened in recent years on the back of growth in the secondary and tertiary sectors, as the government has been channelling capital into productive industries such as manufacturing, finance and telecoms. As an energy importer, the kingdom is benefitting from lower international...
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