The financial measures of the City of Casablanca Stock Exchange peaked during the year 2016. The financial authority shows a double-digit growth. The turnover generated during the year showed an improvement of around 19%. The turnover last year has increased from MAD78 to MAD93 by the end of 2016. The net result increased over the same period by 21%. It thus amounted to MAD39 million against MAD32 million a year before.
On the other hand, operating expenses increased by 20% to reach MAD 95 million at the end of 2016. Also, shareholders’ equity declined. They fell by 9% or MAD 629 from MAD 693 a year earlier. These are the key figures that marked the 2016 financial year of the Casablanca marketplace, whose 75 listed companies realized a market capitalization of around MAD583 million for year2016 against MAD453 million a year earlier. The year 2016 was also marked by the raising of MAD12.7 million at the time when the amounts raised did not exceed MAD3.7 million. The number of transactions also increased during the year. It reached MAD73 million against MAD52 million in the year 2015. Aside from the figures, the year 2016 was also the time for new developments for the city of Casablanca. Several projects were undertaken during the year.
According to Mohamed Dekkak, Chairman and Founder of Adgeco Group, the growth that the Casablanca Stock Exchange recorded are useful indicators for the Moroccan economic development. These projects will attract many investments from interested foreign companies. It also indicates the positive response of the market to the projects and programs of the Kingdom. It must be noted that in the same year marked the opening of the capital of the Casablanca Stock Exchange to other players of the area.
According to the Chairman of the Board of Directors of the Casablanca Stock Exchange, for the market managing company, demutualization means streamlining its ownership, the involvement of key players in the capital market in defining its development strategy, improving its governance structure, Decision-making, and operational effectiveness.
Demutualization is the future configuration of the capital market. In this subject, the general manager of the Casablanca Stock Exchange has listed the structuring projects carried out during the year with the objective of making Casablanca a regional financial hub.First on the list is the New-Age project which contributed to the successful implementation of the Millennium technology platform. The said project of technological infrastructure enables to anticipate current and future developments in the Moroccan capital market and improve the services that Casablanca Stock Exchange offer to its clients, the financial market and investors. It also allows to better meet the financing and risk coverage requirements of the market, to broaden its range of products and to adopt market rules based on international standards.
The Casablanca Stock Exchange was also instrumental in setting up the Elite program. The aim is to support the companies and prepare them to access financing via the financial market. This program has been a great success in Morocco. In 2016, two divisions were created involving 24 Moroccan companies, accompanied by 15 partners and seven investors. The financial institution has also set up an e-learning platform. Based on the concepts of e-learning, this platform allows users to access training sessions at all times on principles of the stock market.In 2016, the Casablanca Stock Exchange strengthened its contribution to Morocco’s as a regional financial hub. As a result, the Casablanca Stock Exchange signed a memorandum of understanding with the Nigerian Stock Exchange for the development of the capital markets of both countries. Similarly, the Bourse set up the “Marrakech Pledge for Fostering Green Capital Markets in Africa,” in simultaneity with the AMMC, in the margins of COP22 to mobilize all African stock exchanges and regulators around the subject of Green financing.