Latest news with #BankofAfrica
Morocco World
17 hours ago
- Business
- Morocco World
Four Moroccan Companies Among Forbes Top 100 Listed Companies 2025
Rabat — Forbes Middle East's Top 100 Listed Companies 2025 featured four Moroccan businesses, including banking institution Attijariwafa Bank, Maroc Telecom, Bank of Africa, and BCP. Attijariwafa Attijariwafa Bank is ranked 26 out of the 100 businesses listed by Forbes. With a market value of $15.4 billion and sales of $5.2 billion, the bank has established a name for itself in the list for its workforce and services for over 12 million customers across more than 7,200 branches. 'Attijariwafa Bank operates in 27 countries through majority-owned banking subsidiaries. In September 2024, the bank launched an investment fund dedicated to energy efficiency projects across Africa in partnership with Econoler. Al Mada is the bank's largest shareholder with a 46.5% stake,' Forbes said . The bank is managed by its chairman and CEO, Mohamed El Kettani. BCP Group Forbes listed Morocco's BCP Group 39th on the list. The group, chaired by CEO Naziha Belkeziz, has a market value of $5.9 billion and profits of $536 million. 'In May 2024, the group entered into a $70 million risk-sharing agreement with the African Development Bank to support private-sector financing and enhance trade in Africa,' Forbes wrote , noting that the bank served 8.6 million customers as of December 2024. Bank of Africa One of Morocco's billionaires, Bank of Africa's CEO Othman Benjelloun, is also on the list. His group ranked 50 out of 100. The company's market value stands at $4.7 billion, according to Forbes, which also identified the company's profits at $537 million and assets of $45.6 billion. The banks' sales are estimated at $2.99 billion. Forbes Middle East said the bank has 6.6 million customers, 2,0000 points of sale, and employs 15,000 people across 32 countries. Maroc Telecom Maroc Telecom ranks 63, with a market value of $10.9 billion, sales of $4 billion, profits of $287 million, and assets estimated at $7.6 billion. 'Established in 1998 after the split of the National Post and Telecommunications Office, Maroc Telecom is Morocco's primary telecommunications operator with a customer base of 80 million customers,' Forbes wrote . The company's leadership includes former Minister of Economy Mohamed Benchaaboun, who was appointed as the new chairman of the company's executive board in February. Benchaaboun replaced Abdesla Ahizoune, whose term expired after 27 years at the helm of the communication operator. Benchaaboun joins Maroc Telecom after serving as Director General of the Mohammed VI Investment Fund, a position he has held since October 2022. His extensive career includes roles as Morocco's Ambassador to France, Minister of Economy and Finance, CEO of Banque Populaire Group, and, notably, head of the National Telecommunications Regulatory Agency (ANRT). Forbes said it picked up its statistics from main markets in the Arab stock exchanges, ranking the companies based on their performances like sales, assets, and profits for the 2024 financial year, as well as based on their market value as of April 2025.
Zawya
29-05-2025
- Business
- Zawya
Morocco's Bank of Africa reports 26% rise in first-quarter profit
Bank of Africa, Morocco's third-largest lender, reported a 26% increase in profit attributable to shareholders to 920 million dirhams ($99.5 million) in the first quarter, driven by a rise in net banking income. Net banking income rose 11% to 5 billion dirhams, the bank said, noting an improvement in interest and fee margins. (Reporting by Ahmed Eljechtimi Editing by Bernadette Baum)
Ya Biladi
24-03-2025
- Business
- Ya Biladi
BMCE Capital accelerates AI transformation with Cap'AI by BK program
BMCE Capital has launched Cap'AI by BK, an Open Innovation program dedicated to artificial intelligence as part of its ongoing digital transformation. Following the success of Cap'Tech, Cap'INov, and Cap'Women, this initiative marks a new milestone in the integration of AI within the group. Cap'AI by BK aims to create a collaborative ecosystem that brings together startups, researchers, experts, and technology partners to develop innovative solutions tailored to the challenges of the financial sector. The program focuses on three key areas: - Decision-making Optimization & Trading - Customer Experience & Hyper-personalization - Automation & Operational Efficiency The goal is to foster innovation and entrepreneurship while accelerating the adoption of artificial intelligence in investment banking. The program is open to innovative startups, students, professionals, and AI enthusiasts, either individually or in teams of up to three members, both Moroccan and international. Candidates must submit their projects online at by April 30, 2025. BMCE Capital is the investment banking arm of Bank of Africa – BMCE Group, operating in Morocco, Tunisia, and the WAEMU region. Its activities encompass financial markets, asset management, financial advisory, stock market brokerage, private equity, and securitization.
