Four Moroccan companies rank among Forbes Top 100 in 2025

Friday 20 June 2025 - 08:50

By: Dakir Madiha

Four Moroccan companies rank among Forbes Top 100 in 2025

Four Moroccan companies have earned spots in Forbes Middle East’s Top 100 Listed Companies 2025, a ranking that highlights the region’s most prominent businesses based on market value, profits, assets, and sales. The featured companies include Attijariwafa Bank, Maroc Telecom, Bank of Africa, and Banque Centrale Populaire (BCP), reflecting Morocco’s growing influence in the Arab financial and telecommunications sectors.

Attijariwafa Bank: leading the Moroccan contingent

Ranked 26th on the list, Attijariwafa Bank stands out as Morocco’s most valuable company in the rankings. With a market value of $15.4 billion and annual sales of $5.2 billion, the bank serves over 12 million customers through its extensive network of more than 7,200 branches across 27 countries.

In 2024, the bank launched an energy efficiency investment fund in collaboration with Econoler, focusing on sustainable projects across Africa. Al Mada, a Moroccan investment fund, holds a 46.5% stake in the bank. The institution is led by its chairman and CEO, Mohamed El Kettani, who has overseen its rise to prominence in regional and global markets.

Banque Centrale Populaire (BCP): fostering African trade

Ranked 39th, BCP Group boasts a market value of $5.9 billion and annual profits of $536 million. The bank, chaired by CEO Naziha Belkeziz, supports 8.6 million customers. In May 2024, BCP signed a $70 million risk-sharing agreement with the African Development Bank to enhance private-sector trade and financing across the continent, cementing its role as a key driver of economic growth in Africa.

Bank of Africa: expanding global reach

Bank of Africa, chaired by billionaire Othman Benjelloun, secured the 50th spot on Forbes’ list. With a market value of $4.7 billion, the bank reported profits of $537 million and assets totaling $45.6 billion. It operates in 32 countries, employing 15,000 people and serving 6.6 million customers through 2,000 service points. The bank’s performance underscores its significant contribution to Morocco’s banking sector and its expanding international footprint.

Maroc Telecom: Morocco’s telecommunications

Maroc Telecom, ranked 63rd, is the country’s leading telecommunications provider. Established in 1998, the company serves 80 million customers across multiple markets. Its market value stands at $10.9 billion, with annual sales of $4 billion and assets valued at $7.6 billion.

In February 2025, Mohamed Benchaaboun, former Minister of Economy and Finance, was appointed chairman of Maroc Telecom’s executive board, succeeding Abdeslam Ahizoune, who had led the company for 27 years. Benchaaboun brings decades of experience, having previously served as the head of the Mohammed VI Investment Fund and Morocco’s Ambassador to France.

Regional recognition

Forbes Middle East compiled its 2025 rankings based on data from Arab stock exchanges, evaluating companies on their financial performance during 2024 and market valuations as of April 2025. The inclusion of four Moroccan companies underscores the country’s growing prominence in the region’s economy, driven by its robust banking and telecommunications sectors.