The Moroccan stock market has seen significant growth in foreign investment, with the value of stocks held by foreigners reaching 220 billion dirhams as of 2025. This represents a 21.2% increase from the previous year, according to the Autorité Marocaine des Marchés de Capitaux (AMMC). The surge is attributed to the appreciation of listed share prices and a bullish market trend.
The AMMC reported that the growth in foreign-held stocks is closely tied to the performance of the MASI index, which tracks the Moroccan stock market. In 2025, the MASI index recorded an annual gain of 27.57%, contributing to the increase in foreign investment. The part of foreign investments in the overall market capitalization stood at 21.2% in 2025, down from 24.1% in 2024.
The trend of foreign investment in Moroccan stocks has been volatile in recent years. In 2022, the value of foreign-held stocks dropped to 156 billion dirhams, down from 209 billion dirhams in 2021. However, the market has rebounded since then, with the value of foreign-held stocks rising to 168 billion dirhams in 2023, 182 billion dirhams in 2024, and 220 billion dirhams in 2025.
The Moroccan government's efforts to promote the stock market and attract foreign investment have contributed to the recent growth. The country's economic reforms and improved business climate have also played a role in boosting investor confidence. As a result, the stock market has seen increased activity, with the MASI index recording significant gains in recent years.
The growth in foreign investment has also been driven by the performance of listed companies. Many Moroccan companies have reported strong earnings and revenue growth, attracting investors and driving up share prices. The AMMC has noted that the increase in foreign-held stocks is a positive sign for the Moroccan economy, indicating growing investor confidence and a strong market performance.
Despite the growth in foreign investment, there are still challenges facing the Moroccan stock market. The market remains relatively small compared to other emerging markets, and there is a need for further reforms to increase liquidity and attract more investors. However, the recent growth in foreign-held stocks is a positive sign, and the market is expected to continue growing in the coming years.
The Moroccan stock market is expected to continue its upward trend, driven by strong economic growth and improved investor sentiment. The government has announced plans to further develop the market and attract more foreign investment, which is expected to support the growth of the economy. With a growing market and increasing investor confidence, Morocco is well-positioned to become a major player in the region.
Key points
- The value of foreign-owned stocks in Morocco has reached 220 billion dirhams, a 21.2% increase from 2024.
- The growth in foreign-held stocks is closely tied to the performance of the MASI index, which recorded an annual gain of 27.57% in 2025.
- The Moroccan stock market has seen significant growth in recent years, driven by strong economic growth and improved investor sentiment.
