Surge in Securities Accounts and Active Investors
In an impressive display of market vitality, the number of securities accounts in Morocco saw a remarkable increase from 230,604 to 401,169 within a single year, according to the Moroccan Capital Market Authority (AMMC). This surge can largely be attributed to the active participation of Moroccan individuals, who are significantly reshaping the landscape of market activity. The AMMC's report titled "Capital markets in figures" reveals that by the end of 2025, the number of securities accounts had risen by an astonishing net increase of 170,565, which equates to a nearly 74% growth rate. This dynamic shift indicates that Moroccan individuals are now more influential than ever in the investment sphere.
Specifically, the number of accounts held by resident individuals skyrocketed from 200,855 in 2024 to 360,020 in 2025, contributing to a staggering addition of 159,165 accounts. This translates to approximately 93% of the total net increase in securities accounts for the year, highlighting the pivotal role that individual investors play in the Moroccan financial market. Meanwhile, non-resident individuals also experienced growth, albeit at a slower pace, increasing from 14,947 to 22,843 accounts, while resident legal entities rose to 17,789 accounts, marking an increase of 3,371. Notably, the participation of non-resident legal entities remains minimal, with only 517 accounts recorded at the end of 2025, up from 384 the previous year.
Active Participation and Market Dynamics
The trend of increasing securities accounts is further mirrored in the growing number of active clients among brokerage firms. The count of active clients surged from 14,564 in 2024 to 35,287 in 2025, reflecting a gain of 20,723 clients. Once again, the expansion can be attributed predominantly to Moroccan individuals, whose active client base rose from 11,931 to 32,002, adding 20,071 to the total. This demographic now represents a substantial 91% of the active clientele within brokerage firms, a notable increase from 82% in the previous year. This evolution illustrates a significant shift: not only are there more individuals holding securities accounts, but they are also increasingly active in market transactions. The robust stock performance, a series of initial public offerings (IPOs), and a renewed interest in listed stocks likely fueled this heightened engagement.
Conversely, the landscape for Undertakings for Collective Investment in Transferable Securities (UCITS) experienced a slight downturn, with the number of active clients decreasing from 1,683 to 1,643. However, Moroccan legal entities did see a growth from 620 to 1,056, while foreign individuals increased their participation from 210 to 446. Despite the resurgence of individual investors, it is essential to note that institutional players still exert considerable influence over trading volumes. In 2025, Moroccan individuals represented 26% of the trading volume on the central market, a marginal increase from 25% in 2024, but still trailing behind the significant contributions of institutional and professional investors, with Moroccan legal entities contributing 34% and UCITS accounting for 30% of trading volumes.
The notable growth in both the number of securities accounts and active investors is an encouraging sign for the Casablanca Stock Exchange, indicating a gradual broadening of its investor base after years of concentrated activity among a limited participant pool. The challenge that lies ahead is to transform this quantitative progress into sustained engagement, ensuring that a base of active, informed, and regular investors remains steadfast beyond the cycles of IPOs and market surges.
As reported by medias24.com.
