Doha – Morocco and Mauritania have sealed a breakthrough deal in their economic cooperation with the signing of a protocol agreement to establish the Nouakchott Stock Exchange. This move symbolizes a new stage in the rapprochement between Rabat and its southern neighbor.
The agreement was formalized on Thursday between the Central Bank of Mauritania (BCM) and the Casablanca Stock Exchange. It was ratified in the presence of Hamid Chabar, Ambassador of Morocco to Mauritania.
The initiative comes as a culmination of efforts following the meeting between King Mohammed VI and President Mohamed Ould El-Ghazouani last December. This agreement advances South-South cooperation that aims to modernize Mauritania’s financial market.
“The signing of this protocol with the Casablanca Stock Exchange represents a decisive step forward in our ambition to provide Mauritania with a modern, transparent, and inclusive financial market,” said Mohamed-Lemine Dhehby, Governor of the Central Bank of Mauritania.
The agreement focuses on three main pillars: creating an inclusive and modern stock market in Mauritania, developing local expertise through targeted training programs, and promoting South-South partnership based on sharing best practices.
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With nearly a century of experience, the Casablanca Stock Exchange will provide technical, operational, and strategic support to the Mauritanian counterpart. The assistance will cover market architecture, quotation systems, regulations, and supervision mechanisms.
“A stock exchange is much more than just a financing tool: it’s an infrastructure of trust, a financial acceleration engine, and a lever for economic transformation and influence,” stated Tarik Senhaji, Director General of the Casablanca Stock Exchange.
At the heart of the partnership lies a shared ambition to broaden Mauritania’s economic base, draw in international capital, and extend financial services to underserved populations.
The stock exchange project seeks to structure a modern market connected to international standards, capable of supporting local businesses and mobilizing national savings.
According to Dhehby, this strategic cooperation translates the commitment to build a solid financial ecosystem capable of channeling national savings toward productive investment and attracting international capital. The ultimate goal is to position Mauritania as a credible player in the regional financial scene.
The Moroccan-Mauritanian relations “are going through their best period” in recent years, according to statements from the Mauritanian FM, Mohamed Salem Ould Merzoug.
Both parties said the agreement signals their intent to deepen cooperation and advance shared goals for economic development in Mauritania and the wider region.
The initiative is expected to support the development of Mauritania’s financial market while promoting broader regional economic integration by fostering stronger links between African economies.
