Rabat: Morocco confirms its position amongst the continent’s major economic powers, Jeune Afrique magazine stresses in a press release announcing its 26th exclusive ranking of the 500 largest African companies.

According to Agence Marocaine De Presse, while the overall sales of the ranked Moroccan companies amount to $55.9 billion, or 7.6% of the ranking total, their sectoral diversity constitutes ‘a real asset’. From the automotive industry to telecommunications, agro-industry and mining, Moroccan groups are showing resilience in the face of economic turbulence. Jeune Afrique notes that ‘the OCP group, world leader in phosphates, ranks prominently in the Top 10’, while other ‘major players are continuing to expand, like Royal Air Maroc, which is benefiting from the upturn in air transport to accelerate its growth’.

This momentum reflects the Kingdom’s strategy of bolstering its integration into global value chains and attracting more investment, particularly in industry and services. Jeune Afrique’s ranking, the same source explains, is based on a detailed analysis of nearly 1,300 African companies, scrutinizing their financial performance based on their sales figures for the fiscal year 2023. The data is collected from official, verified sources and converted into US dollars at the exchange rate prevailing at the close of each fiscal year. The aim is to provide a reliable and exhaustive insight into the African economy, excluding the financial and insurance sectors, which are analyzed separately, the same source adds.