Morocco's Capital Markets Surge: $16.8 Trillion Raised in July 2026

July 2026 marked a significant milestone for Morocco's capital markets, with new fundraising reaching nearly 16 billion dirhams. This brought the cumulative amount raised throughout the year to 70.9 billion dirhams, according to the latest monthly indicators from the Moroccan Securities and Capital Market Authority (AMMC).

On just July 2026, the capital market activity was particularly strong, with 15.837 billion dirhams raised during the month. The proceeds were distributed across three main categories: negotiable securities (TCN) at 11.737 billion dirhams, bond issuances totaling 2.5 billion dirhams, and capital stock offerings amounting to 1.6 billion dirhams.

The cumulative bond issuance has now reached 16.85 billion dirhams, surpassing the 28.4 billion figure recorded in July 2025. Meanwhile, TCN offerings have grown to 51.025 billion dirhams compared to 39.189 billion in the previous year. Capital stock emissions totaled 3.002 billion dirhams, down from 4.170 billion in July 2025.

Beyond new issues, the outstanding credit operations volume stands at 32 billion dirhams as of mid-July, representing a 39% decline from the beginning of the year and a 28% drop over the past twelve months. The monthly trading volume reached 31 billion dirhams, down 32% from the prior month but up 21% year-to-date.