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Join on Telegram Rabat – 13 Moroccan companies feature among North Africa’s top 20 biggest firms in terms of market capitalization, according to a report by African Business, a pan-African business-oriented business magazine.
Leading the charts is Maroc Telecom, Morocco’s leading telecommunication firm, with an $11.8 billion valuation.
Despite topping the list of North African companies, Maroc Telecom slipped from the list of the top 10 companies on the continental ranking. The Moroccan firm’s market capitalization fell from $13.5 billion to $11.8 billion between 2021 and 2022, according to a report by African Business.
Maroc Telecom ranked 13th in Africa, down from 8th in 2021, the report noted.
With a market capitalization of $10.3 billion, Attijariwafa Bank, Morocco’s largest bank, came in second place on the list of the top 20 largest companies in North Africa.
On the continental level, Attijariwafa Bank fell from the 15th to the 19th in 2022 even as its capital grew by $0.4 billion in the past year, reflecting strong growth in Africa’s business landscape.
Morocco’s Banque Centrale Populaire ranked as North Africa’s third-largest company; the Moroccan banking group was meanwhile ranked 32nd in Africa, with market capitalization has fallen from $5.652 billion to $5.622 billion in the past year.
Read also: Maroc Telecom’s Customer Base Reaches 74 Million
LafargeHolcim Maroc construction group ranked fifth in the North African market and 39th in Africa. The group’s market capitalization stood at $4.623 billion, up from $4.167 billion in 2021.
The final Moroccan bank to feature on the list of the top 20 largest companies in North Africa is Bank of Africa in 6th place in North Africa and 42nd across the entire continent. The banking group’s market capitalization in 2022 is valued at $4.238 billion, up from $3.563 billion a year before, the report indicates.
Other Moroccan companies featured in the regional ranking include construction materials manufacturer Ciments du Maroc and energy company TAQA Morocco. The two firms are respectively ranked 7th and 8th in the North African market.
Food manufacturer Cosumar Maroc is ranked as the ninth-largest company in North Africa and 61st in the whole of Africa. Meanwhile, Mining company Managem, and Morocco’s national port operator, Marsa Maroc, ranked in the 11th and 12th ranks respectively.
The final Moroccan companies to appear in the ranking in 13th, 15th, and 17th place are Wafa Assurance, Afriquia Gaz, and Total Maroc respectively.
