Casablanca Stock Exchange: profits surge but mining boom skews the picture

The latest half-year results on the Casablanca Stock Exchange confirm a positive momentum in 2026, but they require a careful reading for Moroccans abroad who follow the market for their savings or return plans.

Casablanca Stock Exchange: net profit up 12.9%

According to a research note published on 1 October 2026, companies listed on the Casablanca Stock Exchange generated an aggregate net income attributable to shareholders of 29.6 billion dirhams in the first half of the year, an increase of 12.9%.

This strong headline figure suggests a clear recovery in profitability after several turbulent years. For Moroccans living abroad who use the Casablanca Stock Exchange as a reference for their investments, the signal looks encouraging. Yet the study underlines that the raw number does not tell the full story.

Mining and Maroc Telecom inflate the headline numbers

Analysts draw a line between two readings of the this case results: the published figures on one hand, and adjusted figures excluding certain exceptional items on the other.

Two key factors largely explain the 12.9% rise in aggregate net profit:

• the very strong contribution of the mining sector, which is structurally volatile;
• the base effect linked to a one-off payment recorded in the context of the dispute between Maroc Telecom and Wana Corporate, amounting to 1.3 billion dirhams.

Once these two items are stripped out, aggregate net profit drops to 25.4 billion dirhams, with growth slowing to 4.3%. In other words, without mining and the Maroc Telecom effect, profit growth remains positive but looks more like a normalisation than a real boom.

Sales growing, but sector dynamics differ

In the first half of 2026, 72 listed companies (excluding a few not covered in the report) published their accounts. Together they posted 189.6 billion dirhams in revenue, up 10.3% year-on-year.

Two main blocks are driving that trend:

• industrial companies, whose sales increased by around 13.2% to 124.8 billion dirhams;
• insurance companies, with growth of around 21.4% to 13.7 billion dirhams.

By contrast, net banking income for financial institutions rose only modestly, by about 1.6% to 51.2 billion dirhams, as the sector continues to face pressure on credit demand and interest margins.

What these results mean for Moroccans abroad

For Moroccans abroad considering equity investments in Casablanca, the latest data from the this issue send several clear messages.

First, the market is demonstrating an ability to rebound, with rising profits and double-digit revenue growth. This may reassure those who already diversify between real estate in Morocco and financial assets.

Second, the gap between the 12.9% headline growth and the adjusted 4.3% highlights the need to look beyond aggregate numbers. Mining stocks can generate attractive opportunities, but they also increase volatility in a portfolio.

Third, for those preparing a return to Morocco or planning to start a business there, these results offer a snapshot of the health of key sectors such as industry, insurance, telecoms and banking. They can help orient more targeted investment choices, provided this half-year picture is complemented by personalised advice.

Until new official data confirm these trends for the second half of the year, the the story remains an important barometer for gauging the economic climate in Morocco before committing capital earned abroad.

Points to check before investing from overseas

Moroccans abroad who want exposure to the the development need to factor in several practical aspects: tax on investment income, brokerage fees, exchange rate risk when their income is in euros or dollars, and the regulatory rules governing foreign currency accounts.

Official resources aimed at Moroccans abroad, as well as the websites of financial regulators, can provide a basic framework. Beyond that, guidance from a financial adviser in Morocco or in the country of residence is essential before turning a promising set of stock market figures into a long-term wealth strategy.

For more context, readers can follow Canal212 news for Moroccans abroad.

For official updates, readers can check the relevant official source.