Calls to boost Casablanca stock market

Experts attending a forum in Casablanca on capital markets and investments called for more efforts to boost the Casablanca bourse.

Participants, who lauded the reforms implemented in 1993, underlined that the negative performance of the Moroccan stock market was only ephemeral.

However, they noted that foreign investors blame the lack of transparency, over-liquidity as the major brakes to the flourishing of the Casablanca financial place.

Participants urged the bourse professionals to communicate more with investors and to ensure more transparency within the bourse.

According to economy, finance, privatization and tourism minister, Fathallah Oualalou, the Moroccan stock market fared this year a positive evolution with a 21.6 % growth for firms quoted in the bourse.

The annual volume of transactions passed at the Casablanca stock market stood at $ 3 billion last October against $ 10 million only in 1992.

Capitalization at the bourse also progressed, going up from $ 1.7 billion in 1992 to $ 12.4 billion in 2000. The capitalization-GDP ratio went up from 7% in 1992 to 36% in 2000.

The Bourse's general index grew up from 202 points to 706 points, recording an average annual growth of 17 %.