Maroc Telecom Surpasses 78 Million Customers as Growth Accelerates Across Africa

11:10

Maroc Telecom has expanded its customer base to nearly 78 million subscribers by the end of September 2026, reinforcing its position as a major telecommunications operator in Morocco and across several African markets. The group’s latest performance reflects growing demand for mobile data and continued expansion among its international subsidiaries.

The customer base increased by 2.4% year on year, with the strongest contribution coming from the group’s subsidiaries, whose combined customer numbers rose by 4.5%. The figures point to the growing importance of the African markets in the operator’s overall commercial performance.

Data Consumption Supports Business Expansion

The increase in subscribers comes as telecommunications usage continues to evolve, with mobile internet and fixed broadband services becoming increasingly important sources of growth.

In Morocco, Maroc Telecom is benefiting from stronger demand for digital connectivity, including mobile data and high-speed fixed internet. Across its African operations, the group is also seeing increased use of data services, alongside the development of digital financial products such as mobile money.

These trends are reshaping the company’s growth strategy, placing greater emphasis on network capacity, broadband access and services that go beyond traditional voice communications.

Revenue and Operating Performance Improve

For the first nine months of 2026, Maroc Telecom reported consolidated revenue of 28.682 billion Moroccan dirhams, an increase of 5.1% compared with the corresponding period in 2025.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) reached 14.377 billion dirhams, up 4.9%. The EBITDA margin stood at 50.1%, indicating that the group maintained a high level of operating profitability while expanding its business.

Operating income before amortisation of intangible assets related to business combinations and certain other items (EBITA) totalled 8.625 billion dirhams. This represented a reported decline of 18.9%, largely reflecting the impact of an exceptional gain recorded in 2025 under an agreement with Wana Corporate. Excluding that non-recurring effect, EBITA increased by 6.1%.

Net profit attributable to the group amounted to 3.862 billion dirhams. Although the reported figure fell by 30.1% year on year, the company said net profit rose by 4.3% when the exceptional item from the previous year was excluded.

African Subsidiaries Play a Growing Role

Maroc Telecom’s international operations remain an important contributor to its development. Operating through the Moov Africa brand in several markets, the group has expanded its presence across West and Central Africa.

Growth in these subsidiaries has helped increase the overall customer base and supported consolidated revenue. The expansion of mobile data usage and mobile money services is also creating opportunities to diversify income beyond traditional telecommunications.

The group’s performance highlights the strategic importance of maintaining a broad regional footprint while adapting services to the needs of individual markets.

Investment Focuses on Digital Infrastructure

To accommodate rising demand, Maroc Telecom continues to invest in fixed and mobile high-speed networks. Capital expenditure, excluding spectrum and licence costs, represented 20.1% of group revenue at the end of September, in line with the company’s annual outlook.

The operator is also pursuing infrastructure-sharing partnerships in Morocco, alongside the development of its subsidiaries and newer digital services. These investments are intended to strengthen connectivity and support continued growth in data consumption.

Net operating cash flow reached 7.143 billion dirhams, up 9.1% year on year. Net consolidated debt stood at 21.018 billion dirhams at the end of September, equivalent to approximately one times annualised EBITDA, according to the group.

Competition and Digital Demand Shape the Outlook

The latest results show a company expanding its customer base while maintaining a substantial operating margin. However, the telecommunications market continues to require sustained investment in network infrastructure, particularly as customers consume more data and demand faster, more reliable connections.

For Maroc Telecom, future performance will depend on its ability to convert subscriber growth into sustainable revenue, strengthen its African subsidiaries and maintain service quality while managing operating costs.

With nearly 78 million customers across its markets, the group enters the final quarter of 2026 with continued commercial momentum and a strategy increasingly centred on high-speed connectivity and digital services.