Jeune Afrique’s ranking lists Morocco among major economic powers in Africa

Morocco confirms its position amongst the continent’s major economic powers, Paris-based Jeune Afrique magazine stresses in a press release announcing its 26th exclusive ranking of the 500 largest African companies.

While the overall sales of the Moroccan companies ranked amount to $55.9 billion, or 7.6% of the ranking total, their sectoral diversity constitutes “a real asset”.

From the automotive industry to telecommunications, agro-industry and mining, Moroccan groups are showing resilience in the face of economic turbulence, Jeune Afrique notes, pointing out that “the OCP group, world phosphates leader, ranks prominently in the Top 10”, while other “major players are continuing to expand, like Royal Air Maroc, which is benefiting from the upturn in air transport to accelerate its growth”.

This momentum reflects the Kingdom’s strategy oriented towards bolstering its integration into global value chains and attracting more investment, particularly in industry and services.

Jeune Afrique explains that its ranking is based on a detailed analysis of nearly 1,300 African companies, scrutinizing their financial performance on the basis of their sales figures for fiscal year 2023. The data is collected from official, verified sources, then converted into US dollars at the exchange rate prevailing at the close of each fiscal year. The aim is to provide a reliable and exhaustive insight of the African economy, excluding the financial and insurance sectors, which are analyzed separately.