Morocco’s most successful enterprises in 2019
Morocco has made of improving its business climate and attracting large scale investments a choice in its economic development policy. 2019 was a year to celebrate outstanding performances by giant manufacturers in their sectors of activity, confirming the attractiveness of Morocco to local and foreign investors.
Morocco’s phosphates and fertilizers producer, OCP, will celebrate its 100th anniversary in 2020 on the back of a strong performance in 2019. The state-owned company, which controls the world’s biggest phosphates reserves, has maintained its leadership as the world’s top phosphates exporter.
The company also stands as Morocco’s largest industrial group employing 23,000 people thanks to an industrial development strategy that moved from simple extraction to manufacturing.
Figures for the entire 2019 performance are not yet available, but the group in 2018 hit a turnover of 55.9 billion dirhams and announced large-scale factories across Africa where it has become a major fertilizer provider.
The group has ended 2019 with a major announcement confirming the expansion of its business to cover tourism development through an alliance with rail operator ONCF and Hassan II Fund for economic development.
Morocco’s flag-carrier RAM has managed to offset the impact of the non-delivery of two Boeing 737 MAX planes and the grounding of two others as part of an international ban on the jets.
The company joined the Oneworld network offering its customers more flights and connections across the globe. The network brings together 13 airlines and enables RAM to access 13 new hubs and 1035 destinations in 164 countries.
The new deal is conducive to Morocco’s tourism promotion strategy through opening the Moroccan market to visitors beyond the traditional tourism emitting markets in Europe.
RAM also plans to double its fleet pending the approval of a deal in that regard with the government.
Meanwhile, RAM announced it will start operating direct flights to China this month.
PSA and Renault
Morocco reaps the benefits of its cluster strategy in the automotive sector. The inauguration of PSA factory in Kenitra in mid-2019 has encouraged the creation of a new automotive cluster in Kenitra Atlantic free zone.
PSA factory is for now making 208 model, highly in demand in Morocco, Africa and Europe. The factory has a capacity to manufacture 100,000 annually with a locally-sourcing rate of 60%. As of 2020, the plant worth €560 million will make 200,000 annually.
As for the older and bigger plant by Renault in Tangier, production in 2019 hit 340,000 cars in addition to 100,000 made by the same brand in its Casablanca plant known as Somaca.