Raise its market capitalization to 70% of Morocco’s GDP by 2025 by increasing the number of listed companies from 76 in 2019 to 300 in 2035. These are the major objectives posted about the Casablanca Stock Exchange (BVC ) in Morocco’s “New Development Plan”.
In 2019, the market capitalization of the Moroccan financial center, of $ 60 billion, represented roughly 54% of the kingdom’s GDP. To achieve the objectives set out in the development plan, the BVC intends to go from an average of 100 million dollars in issuance of shares between 2015 and 2019 to 1 billion dollars between 2021 and 2030 and, beyond, to 5 billion dollars between 2030 and 2035. Among the recommendations of the committee that worked on this new development plan, note the reduction in the weight of banks from 35% of the current market capitalization to only 20% by 2035. An objective which involves diversifying the basket towards sectors of activity and industries that are still under-represented on the stock market.
Founded in 1929, the Casablanca Stock Exchange is the leading stock exchange in the Maghreb and West Africa and the fourth stock exchange in Africa in terms of capitalization.
