The Casablanca Stock Exchange is mobilizing to support a growing automotive sector

Speaking at a conference on the theme “Roll into the future: how the stock market can support the Moroccan automotive sector to catalyze its growth potential and project itself towards a future of expansion”, Mr Mezzour underlined the urgency to capitalize on the dynamic development of the automotive sector, which has seen a remarkable increase in exports over the past five years.

He added that Morocco is now establishing itself as a major player in the automotive sector, marking the beginning of a new era focused on autonomy and greater influence of Moroccan skills in the sector. In this sense, the Minister called for going beyond the limits of the national market and entering highly competitive international markets rich in opportunities, advocating a synergy of financial and human resources to build a winning strategy development, not just to support economic growth. the automotive sector, but also to create industrial champions.

Kamal Mokdad, Chairman of the Board of Directors of the Casablanca Stock Exchange, noted in turn that the automotive sector today represents 1% of the Moroccan market capitalization, with the ambition to double this contribution in the short term or triple the importance of the Stock Exchange as a financing pillar for the Moroccan economy. For his part, the General Manager of the Casablanca Stock Exchange, Tarik Senhaji, specified that this planned collaboration between the Stock Exchange and the automotive sector is considered beneficial for both parties, consolidating Casablanca’s position as a structuring financial center for the economy. Morocco on the world stage.

When it was his turn, the president of the Automobile Federation of the General Confederation of Moroccan Enterprises (CGEM), Adil Zaidi, said that the automotive sector has an annual turnover of more than 220 billion dirhams (MMDH), with exports of more than 140 billion dirhams (MMDH). billion dirhams by the end of 2023, considering it as a sector conducive to development with the support of financial markets and its various capabilities. As for Pierre Fleuriot, member of the Board of Directors of the Renault Group and member of the Board of Directors of the Stock Exchange, he praised the performance of the Stock Exchange, describing it as an effective financial instrument that offers complete financing solutions for the automotive sector. , as well as a stock exchange listing that facilitates capital raising and guarantees the transparency necessary to finance such investments.

This conference, jointly organized by the Ministry of Industry and Trade, the Casablanca Stock Exchange and the CGEM Automobile Federation, highlighted the development of the automotive sector in Morocco and the methods of financing companies in the sector with their stock exchange listing.