Foreigners’ investments in Casablanca Stock Exchange shares increased by 9.8%, reaching MAD 208.9 billion by the end of 2021, according to the Moroccan Capital Market Authority’s latest data.
This growth is mainly due to the increase in the value of the listed shares formed for the investment portfolios of foreigners.
Taking into account the faster growth rate of stock market capitalization than the current rate of stocks in foreign portfolios, the share of foreign investors in stock market capitalization fell slightly from 32.5% to 30.3% at the end of 2020.
Additionally, foreign investment covered the entire 76-company list on the Casablanca Stock Exchange, accounting for less than 25% of stock market capitalization for 51 companies, 45 of which were less than 10%, and the share ranged between 25% and 50% for 9 companies.
A total of 10 companies have a share of capital owned by foreigners ranging from 50 to 75%, while 6 companies have a share of capital owned by domestics, according to the report.
The Moroccan Capital Market Authority confirmed that strategic contributions (exceeding more than 4%) dominated foreign investment in listed bonds, since they represented more than 93% of the total invested amounts, recording almost stability compared to the level recorded in 2020. Strategic contributions are 28.2% of the percentage of stock market capitalization.
Regarding the floating share of foreign investment on the Casablanca Stock Exchange, it recorded a slight decrease to reach 2.1% of the total capitalization of the stock exchange in 2021, compared to 2.4% a year earlier.
The floating share of foreign investment represents 8.2% by the end of 2021, added the report.
In terms of strategic contributions, the electricity sector, represented by the UAE company Taqa Morocco, recorded an ownership rate of 86%, followed by the beverages, telecommunications, and services directed to group sectors owned by more than 50% foreigners, said the same source.
The structure of investors by geographical origin remains characterized by the large size of investors from Europe and the Middle East, who alone represent 95 % of the total foreign investment and about 29% of the stock market capitalization, according to the same source.
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