Marrakech – Maroc Telecom has successfully completed its first private bond issuance on the Moroccan market, raising MAD 3 billion ($300 million) from institutional investors. The operation marks a key benchmark in the telecom giant’s financial optimization strategy.
The bond, structured as a private placement with a two-year maturity and in-fine repayment, was issued at a fixed rate of 2.37%, including a risk premium of 20 basis points.
The strong interest from investors, as the company noted in its statement today, reflects confidence in Maroc Telecom’s solid fundamentals and sustainable growth trajectory.
The raised funds will serve two main purposes: proactively refinancing part of the company’s existing debt and providing new financial flexibility to accelerate strategic investments.
These investments will target key areas towards deploying 5G, expanding fiber optic, enhancing the customer experience, and developing innovative solutions for businesses.
This financial operation is part of a broader revival and consolidation strategy, as the group reaffirms its ambition to play a driving role in Africa’s digital transition.
Present in eleven countries, Maroc Telecom remains a leading force in the telecommunications sector, with 53% of its shares owned by the Telecommunications Participation Company (SPT, controlled by Etisalat) and 22% by the Moroccan government.
The bond issuance comes shortly after Maroc Telecom secured a long-term financing partnership with the International Finance Corporation (IFC), a World Bank Group subsidiary dedicated to the private sector.
The agreement involves a total loan of €370 million (approximately MAD 3.7 billion) to support Maroc Telecom’s subsidiaries in Chad and Mali.
The IFC partnership aims to improve mobile connectivity and internet quality in these countries, supporting 4G service deployment and expanding internet access to more people and businesses. This aligns with the African Union’s goal of building a secure single digital market in Africa by 2030.
Maroc Telecom reported revenue of MAD 36.7 billion ($3.67 billion) last year, marking a 1.2% increase, with its Moov Africa subsidiaries showing 4.6% revenue growth.
The group’s African operations performed strongly across key segments, with mobile data growing by 15.6%, fixed internet by 21.1%, and Mobile Money services by 14.4%.
In a related development, Maroc Telecom recently transitioned to a unified governance model, replacing its previous dual structure with a streamlined Board of Directors.
Mohamed Benchaâboun, appointed in February, continues as CEO, leading the company through its digital transformation and innovation initiatives across Morocco and Africa.
