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Rabat — Forbes Middle East’s Top 100 Listed Companies 2025 featured four Moroccan businesses, including banking institution Attijariwafa Bank, Maroc Telecom, Bank of Africa, and BCP.
Attijariwafa
Attijariwafa Bank is ranked 26 out of the 100 businesses listed by Forbes.
With a market value of $15.4 billion and sales of $5.2 billion, the bank has established a name for itself in the list for its workforce and services for over 12 million customers across more than 7,200 branches.
“Attijariwafa Bank operates in 27 countries through majority-owned banking subsidiaries. In September 2024, the bank launched an investment fund dedicated to energy efficiency projects across Africa in partnership with Econoler. Al Mada is the bank’s largest shareholder with a 46.5% stake,” Forbes said.
The bank is managed by its chairman and CEO, Mohamed El Kettani.
BCP Group
Forbes listed Morocco’s BCP Group 39th on the list. The group, chaired by CEO Naziha Belkeziz, has a market value of $5.9 billion and profits of $536 million.
“In May 2024, the group entered into a $70 million risk-sharing agreement with the African Development Bank to support private-sector financing and enhance trade in Africa,” Forbes wrote, noting that the bank served 8.6 million customers as of December 2024.
Bank of Africa
One of Morocco’s billionaires, Bank of Africa’s CEO Othman Benjelloun, is also on the list. His group ranked 50 out of 100.
The company’s market value stands at $4.7 billion, according to Forbes, which also identified the company’s profits at $537 million and assets of $45.6 billion.
The banks’ sales are estimated at $2.99 billion.
Forbes Middle East said the bank has 6.6 million customers, 2,0000 points of sale, and employs 15,000 people across 32 countries.
Maroc Telecom
Maroc Telecom ranks 63, with a market value of $10.9 billion, sales of $4 billion, profits of $287 million, and assets estimated at $7.6 billion.
“Established in 1998 after the split of the National Post and Telecommunications Office, Maroc Telecom is Morocco’s primary telecommunications operator with a customer base of 80 million customers,” Forbes wrote.
The company’s leadership includes former Minister of Economy Mohamed Benchaaboun, who was appointed as the new chairman of the company’s executive board in February.
Benchaaboun replaced Abdesla Ahizoune, whose term expired after 27 years at the helm of the communication operator.
Benchaaboun joins Maroc Telecom after serving as Director General of the Mohammed VI Investment Fund, a position he has held since October 2022.
His extensive career includes roles as Morocco’s Ambassador to France, Minister of Economy and Finance, CEO of Banque Populaire Group, and, notably, head of the National Telecommunications Regulatory Agency (ANRT).
Forbes said it picked up its statistics from main markets in the Arab stock exchanges, ranking the companies based on their performances like sales, assets, and profits for the 2024 financial year, as well as based on their market value as of April 2025.
