Morocco has solidified its position as North Africa’s primary economic hub, with eight of the nine largest listed companies in the region headquartered there. Attijariwafa Bank retains the top position at $15.7 billion in market value. The standout mover is miner Managem, which surged from $6.1 billion to $10.8 billion following a 55% revenue increase driven by rising gold and silver prices and new mine production in Morocco and Senegal. While Maroc Telecom dropped from second to third after a $694 million settlement payment dented earnings, a strong 2025 profit recovery signals a likely rebound. Conversely, Egypt’s corporate sector showed mixed results; while Telecom Egypt’s value doubled to $2.5 billion by leveraging its status as a global digital corridor, other firms struggled to match Moroccan scale. The regional landscape remains a tale of two halves, as Moroccan and Egyptian firms occupy nearly the entire Top 20 list.
African Business
