Foreign investors concentrated their activities in Morocco’s equity market across four primary sectors representing 66 percent of total trading volumes in 2024, according to the Moroccan Capital Market Authority (AMMC).
The banking sector led foreign investment activity with 31.2 percent of traded volumes, followed by the building materials and construction sector at 13.3 percent. Distribution and telecommunications sectors captured 11.6 percent and 9.8 percent respectively, the AMMC reported in its annual assessment of foreign investment in financial instruments.
Year-over-year analysis revealed substantial growth in the banking and construction materials sectors. Banking sector volumes increased from 2.1 billion dirhams in 2023 to 2.5 billion dirhams in 2024. The building materials and construction sector experienced even more dramatic growth, with traded volumes surging from 392 million dirhams in 2023 to 1.1 billion dirhams in 2024.
Overall foreign investor contributions to stock exchange transactions reached 8 billion dirhams in 2024, representing 4.5 percent of annual volume across both central and block markets. The data confirms that corporate entities dominated foreign trading activity, accounting for nearly all foreign transactional volume.
Geographically, European investors demonstrated the strongest presence with 46 percent of total volume in 2024. African investors followed closely behind, contributing 44 percent of foreign trading activity. This regional distribution highlights Morocco’s position as an investment bridge between European and African markets.
The concentration of foreign investment in these four sectors reflects both Morocco’s economic structure and international investor confidence in the kingdom’s banking system, construction boom, retail expansion, and telecommunications infrastructure. Market authorities noted that this sectoral focus has remained relatively consistent, suggesting sustained foreign interest in Morocco’s key growth industries.
