Morocco

As the government evaluates the initial results of the Maroc Numeric 2013 plan, improved access is pushing the sector to expand. Benefitting from steady economic growth as well as a countrywide strategy to increase information technology (IT) usage, Morocco’s IT sector has seen stable expansion. Governmental policy has been framed under the Maroc Numeric 2013 strategy, which has had an immense...

After experiencing a dip in growth from 2008 to 2010, the industrial sector is expanding once again, with government initiatives being put in place to boost value-added sectors such as aeronautics, automotive production and textiles. The industrial sector accounted for 32.3% of GDP and 23.8% of employment in 2011. A new development plan, the National Pact for Industrial Emergence, promises to...

With a domestic penetration rate of around 2.8% and the volume of premiums having grown 9.2% year-on-year in 2011, Morocco’s insurance market is now the second largest on the continent after South Africa and the third largest in the Arab world after Saudi Arabia and the UAE. With 17 insurers in the country, the domestic market is becoming more competitive and local players are now looking to...

Capital markets in Morocco have seen a number of difficulties in the past years, with the slowdown in the eurozone crisis and continued regional unrest putting pressure on the market. The bourse has posted losses for two years in a row, prompting calls for the accelerated institution of legislative reforms to aid regulators in stabilising operations. The Casablanca Stock Exchange is currently...

While growth at some banking institutions slowed in 2012, due mainly to the pressures of exogenous slowdowns, the sector has remained largely resilient due to prudent regulation by the central bank. The country’s banks posted aggregate net income of €3.2bn in 2011, a 9% increase over €2.9bn in 2010, which translated to 4% growth in net income that year. The government is now grappling with rising...

The Moroccan economy experienced several setbacks in 2012 due to a combination of unfavourable global economic trends, a volatile exchange rate and a drought that caused a drop in revenues from its primary sector, agriculture. However, the government is committed to addressing the most pressing concerns for the economy, having laid out development plans for the agriculture and tourism sectors. A...