oreign investors held 220 billion dirhams in listed shares on the Casablanca Stock Exchange at the end of 2025, up 21.2% in a year, according to the AMMC’s annual report on foreign investment in financial instruments, released on November 5.
The rise came mainly from higher share prices, with the MASI gaining 27.6% in 2025. The foreign share of market capitalization nonetheless fell from 24.1% to 21.2%.
Strategic stakes, of at least 4% of a company’s capital, made up 89.4% of these holdings. Investors from the Middle East and Europe held more than 92% between them, or 203 billion dirhams, and foreigners owned more than half the capital of 12 listed companies.
On the trading floor, they traded 17.3 billion dirhams in 2025, or 6.3% of annual volume. Building and construction materials drew 31.2% of it, ahead of healthcare (22.9%) and banks (19.5%).
Their presence in debt remains marginal, at 3.1 billion dirhams of debt securities, or 0.28% of the total outstanding. They also hold 7.5 billion in mutual fund units, and Moroccans living abroad supply 49% of the amounts invested by individuals.
Photo: AyourAchtouk, CC BY-SA 4.0.
