Capital Markets

One of the largest capital markets in Africa, Morocco’s bourse, the Casablanca Stock Exchange, has been slow to develop in recent years, with relatively few new listings, limited liquidity and a mixed performance. While initial public offers have been relatively few and far between since 2012, a wide range of recent reforms and more legislation in the pipeline appear could help boost investor interest. These changes should provide a range of new products and allow investors to make a profit during times of both rising and falling share prices. Relaxing listing conditions for smaller firms, which are often in greatest need of capital, will also provide a welcome change for the sector. The market’s strong performance in 2016 and 2017, the continuing development of Casablanca Finance City and efforts to make Morocco a regional financial centre more generally will add further momentum, cementing the kingdom’s status as one of Africa’s most important capital markets.

This chapter contains an interview with Hassan Laaziri, Chairman, Association of Moroccan Capital Investors and CEO, CDG Capital Private Equity.