Stocks Market
Morocco’s Capital Market Rouses: Nearly DH9bn Raised in May 2026
Capital‑raising activity in Morocco surged to DH8.93 billion in May 2026, pushing year‑to‑date totals to DH41.68 billion – a 15.9 % rise on the same period last year. The majority came from negotiable debt instruments, especially deposit certificates, while no equity issuances were recorded. Loan‑borrow transactions also grew, indicating heightened market liquidity. These figures, released by the Moroccan Capital Market Authority (AMMC), suggest a renewed appetite for Moroccan debt securities and a solid foundation for continued market development in 2026.
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Capital market performance up to May 2026
According to the latest monthly report from the Moroccan Capital Market Authority (AMMC), total capital raised in the market reached DH41.68 billion by the end of May 2026. This compares with DH35.96 billion at the same point last year, marking a year‑on‑year increase of nearly 16 %.
May 2026: a breakout month
In the single month of May, issuers secured DH8.93 billion. The breakdown is as follows:
- Negotiable debt instruments (TCN): DH5.13 billion
- Bond issuances: DH3.80 billion
- Equity: none recorded
Within TCN, the heavyweights were:
- Deposit certificates – DH3.90 billion
- Corporate financing notes – DH1.23 billion
- Commercial paper – no issuance in May
Year‑to‑date trends
Cumulative bond issuance stands at DH8.3 billion, down from DH9.5 billion a year earlier. Cumulative TCN issuance has risen to DH32.80 billion, up from DH26.46 billion in May 2025.
Loan‑borrow activity
By the end of May, outstanding loan‑borrow transactions amounted to DH48.7 billion. This reflects an 8 % decline relative to the start of the year, but a 37 % increase over the previous twelve months. Monthly volume reached DH33.2 billion, a 4 % rise from April.
These figures underline a robust demand for debt financing and a growing liquidity pool in Morocco’s capital markets.