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Morocco solidifies its position among Africa's economic powerhouses
Morocco has reinforced its status as a significant economic player on the African continent, as highlighted by the magazine “Jeune Afrique” in its announcement of the 26th edition of its exclusive ranking of Africa's 500 largest companies.
With a total revenue of $55.9 billion, Moroccan companies account for 7.6% of the overall ranking. Their sectoral diversity, encompassing industries from automotive to telecommunications, and agriculture to mining, is seen as a considerable asset, according to the same source.
Notably, the OCP Group, a global leader in phosphate production, maintains a prominent position within the Top 10. Other major players, such as Royal Air Maroc, are also expanding, capitalizing on the recovery of air travel to propel their growth.
This dynamic reflects the Kingdom's strategy to bolster its integration into global value chains and attract further investments, particularly in the industrial and service sectors.
The ranking by Jeune Afrique is based on a comprehensive analysis of nearly 1,300 African enterprises, examining their financial performance through revenue figures for the fiscal year 2023. Data is gathered from verified official sources and converted to U.S. dollars at the exchange rate in effect at the end of each fiscal year. The aim is to provide an accurate and thorough snapshot of the African economy while excluding the financial and insurance sectors, which are analyzed separately.
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