Economic Growth Projections
The national economy is expected to grow by 4.7% in 2025, driven by a rebound in agricultural activities, robust non-agricultural sectors, and an uptick in infrastructure investments.
Construction Sector Leads Revenue Increase
The construction sector is set to make the largest contribution to overall revenue growth, adding 11.7 billion dirhams, which represents a remarkable increase of 28.2%. This surge is attributed to the acceleration of major projects, particularly in anticipation of the 2025 Africa Cup of Nations and the 2030 World Cup.
Mining Sector Sees Significant Gains
Following closely is the mining sector, which is projected to increase its revenue by 5.4 billion dirhams, marking a substantial growth of 51.9%. This rise is largely due to the favorable trends in precious metal prices, with Managem contributing 4.8 billion dirhams, reflecting a 54.6% increase.
Banking Sector's Steady Contribution
The banking sector ranks third, contributing an additional 4.8 billion dirhams, which corresponds to a 5.3% increase. This growth is primarily driven by Bank of Africa, which added 1.63 billion dirhams (up 8.7%), BCP with 1.4 billion dirhams (up 5.5%), and CIH, which saw an increase of 683 million dirhams (up 14.4%).
Retail and Insurance Sectors Show Positive Trends
Retailers reported an additional 4.3 billion dirhams in revenue, reflecting a 15.8% increase, while the insurance sector grew by 2.2 billion dirhams, up 8.7%. This growth was notably supported by Wafa Assurance, which increased by 10.9%, and AtlantaSanad, which rose by 15%.
Healthcare and Industrial Growth
The healthcare sector demonstrated a strong performance, contributing 1.7 billion dirhams, a 45% increase, driven by Akdital's 49.4% growth and Vicenne's 29.5% rise. The pharmaceutical industry also saw a 14% revenue increase, while materials, software, and IT services reported a growth of 14.8%.
Challenges in the Oil and Gas Sector
Conversely, the oil and gas sector experienced a decline of 5.5%, attributed to reduced activity among certain operators.
Conclusion
Overall, the revenue dynamics observed in 2025 affirm the continued growth trajectory of listed companies, primarily fueled by the construction, mining, and banking sectors, within a context of controlled inflation and a resurgence in investment.
