Over 20,000 Moroccans Join the Casablanca Stock Exchange in 2025, According to the AMMC
The Casablanca Stock Exchange experienced remarkable growth in 2025 with the addition of over 20,000 new individual Moroccan investors, according to the latest report from the Moroccan Capital Market Authority (AMMC).
The institution notes that the number of active individual Moroccan investors registered with brokerage firms surged from 11,931 in 2024 to 32,002 in 2025, marking a spectacular increase of 168% in just one year.
Individuals Now Dominate the Investor Base
Individual investors now account for 91% of the clientele of brokerage firms, confirming the growing investment culture in Morocco.
In total, the market had 35,287 active clients at the end of 2025, compared to around 14,600 a year earlier, illustrating a rising interest among households in financial investments.
Over 401,000 Securities Accounts Opened
The AMMC report also highlights that the Moroccan capital market totaled 401,169 securities accounts by the end of 2025.
Resident individuals alone represent 90% of these accounts, confirming the strong presence of individual investors in the national stock ecosystem.
Stock Market Activity Accelerating Significantly
The year 2025 saw a significant increase in activity on the Casablanca exchange, with overall trading volume rising by 63% to reach 161.1 billion dirhams.
This performance was primarily driven by the central market, where activity soared by 98.2% year-on-year.
The market’s liquidity ratio also improved, rising from 12.5% in 2024 to 14.2% in 2025.
Institutional Investors Remain Dominant Despite the Rise of Individuals
Despite the growth in individual investors, institutional players continue to dominate trading.
Corporate entities account for 34% of the exchanged volumes, followed by mutual investment funds (OPCVM) at 30%. Individual Moroccan investors now represent 26% of transactions, confirming their growing role in the market.
Foreign investors remain stable at 5% of the flows, while the share of foreign investors and Moroccans residing abroad reaches 21.2% of the market capitalization, primarily through strategic holdings.
Significant Growth in Financing via the Capital Market
The AMMC report also emphasizes a crucial trend in financing the economy.
Funds raised in the private debt segment reached 134 billion dirhams in 2025, an increase of 28.8% compared to 2024.
Negotiable debt securities dominated with 66 billion dirhams raised (49.5%), followed by corporate bonds (51 billion dirhams) and securitization funds (16 billion dirhams).
A Historic First with a Real Estate Investment Fund
2025 was also marked by a first for Morocco: a fundraising initiative through a Real Estate Collective Investment Organization (OPCI), amounting to 500 million dirhams.
IPO Activity Energizes the Market
On the equity market, fundraising reached 10.4 billion dirhams in 2025.
This performance was notably boosted by the IPOs of Vicenne, Cash Plus, and SGTM, which together raised 6.1 billion dirhams.
These operations have helped broaden the investor base and enhance the attractiveness of the Casablanca Stock Exchange.
A New Phase of Growth for the Casablanca Marketplace
These figures confirm a profound transformation of the Moroccan financial market, marked by the empowerment of individual investors, improved liquidity, and heightened fundraising activity.
As such, the Casablanca Stock Exchange is increasingly establishing itself as an attractive player in the region.
