Morocco’s stock exchange is on a charm offensive in London to promote initial public offerings and expose merits of listing for companies that seek to boost liquidity. Speaking to Reuters, head of Morocco’s stock exchange Tarik Senhaji said he expects the bourse to attract 3 to 5 IPOs annually. The bourse also looks with optimism to the upcoming launch of new financial instruments such as ETFs and derivatives that would channel more funds into the stock market, he said. The stock market has a market capitalization of about 62 billion dollars with a daily average trading volume of 21 billion dollars, one of the highest on the African continent. Morocco’s new development model aims at increasing the stock exchange market capitalization from 50 to 70% of GDP by 2035.

Source: The North Africa Journal May 04, 2024 16:08 UTC