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Rabat – Morocco’s fertilizer giant OCP Group recorded the best turnover in 2021 compared to other Moroccan firms.
With MAD 84.3 billion ($7.7 billion) in turnover, OCP topped the ranking of the 500 largest Moroccan companies, according to data reported by the country’s state press agency (MAP).
Coming on the heels of OCP Group is Renault Group, with a turnover of MAD 40.8 billion ($3.7 billion), closely followed by utilities company the National Office of Electricity and Drinking Water (ONEE) in third place, with a turnover of 39.2 billion dirhams ($3.6 billion).
The list of the top 10 best-performing companies equally includes Maroc Telecom with a turnover of MAD 36 billion ($3.3 billion), oil company, Afriquia Smdc with MAD 18.7 billion ($1.7 billion), and retail company Marjane Holding at 13.9 billion ($1.2 billion).
The top 10 of the ranking feature two more energy companies in the sixth and seventh position with Vivo Energy Maroc recording a turnover of MAD 12.9 billion ($1.1 billion), and TotalEnergies Marketing Maroc MAD 12.9 billion ($1.1 billion).
Retail company Label’Vie came in the ninth position with a turnover of roughly MAD 11.8 billion ($1 billion) and Societe Marocaine des Tabacs came in 10th place with MAD 9.3 billion (MAD 848.8 million).
While the strong results from these companies reflect a mature economy, recent data from the Moroccan Observatory for Small and Medium-Sized Enterprises indicates otherwise.
In their annual report, the observatory revealed that as of 2021, 90% of Moroccan businesses are small in size, 9% are medium-sized, and only 1% qualify as large-sized businesses.
Read Also: Report: Supporting SMEs Is Key to Expanding Morocco’s Middle Class
