Morocco and Mauritania forge partnership for Nouakchott Stock Exchange

Saturday 19 April 2025 - 09:20

By: Dakir Madiha

Morocco and Mauritania forge partnership for Nouakchott Stock Exchange

Morocco and Mauritania have reached a significant milestone in their economic collaboration with the signing of a protocol agreement to establish the Nouakchott Stock Exchange. This development marks a new chapter in the relationship between Rabat and its southern neighbor.

Formalized on Thursday between the Central Bank of Mauritania (BCM) and the Casablanca Stock Exchange, the agreement was ratified in the presence of Hamid Chabar, Morocco's Ambassador to Mauritania. This initiative follows a meeting between King Mohammed VI and President Mohamed Ould El-Ghazouani last December, reflecting a commitment to enhance South-South cooperation aimed at modernizing Mauritania's financial landscape.

“The signing of this protocol with the Casablanca Stock Exchange represents a decisive step forward in our ambition to provide Mauritania with a modern, transparent, and inclusive financial market,” stated Mohamed-Lemine Dhehby, Governor of the Central Bank of Mauritania.

The agreement outlines three primary objectives: the establishment of an inclusive and modern stock market in Mauritania, the development of local expertise through specialized training programs, and the promotion of a South-South partnership based on shared best practices.

With nearly a century of experience, the Casablanca Stock Exchange will offer technical, operational, and strategic support to its Mauritanian counterpart. This assistance will encompass market architecture, quotation systems, regulations, and supervisory mechanisms.

“A stock exchange is much more than just a financing tool: it’s an infrastructure of trust, a financial acceleration engine, and a lever for economic transformation and influence,” remarked Tarik Senhaji, Director General of the Casablanca Stock Exchange.

Central to this partnership is a shared ambition to expand Mauritania’s economic base, attract international capital, and provide financial services to underserved communities. The stock exchange project aims to create a modern market aligned with international standards, capable of supporting local businesses and mobilizing national savings.

According to Dhehby, this strategic cooperation signifies a commitment to building a robust financial ecosystem that channels national savings into productive investments and attracts international capital. The ultimate objective is to position Mauritania as a credible player in the regional financial landscape.

Mauritanian Foreign Minister Mohamed Salem Ould Merzoug noted that Moroccan-Mauritanian relations are currently experiencing a period of growth, emphasizing the agreement's role in deepening cooperation and advancing shared economic development goals for both nations and the broader region.

This initiative is poised to bolster the development of Mauritania's financial market while fostering regional economic integration through stronger connections between African economies.