Morocco dominates the African Business list of the top 20 largest listed companies in North Africa. This ranking, part of Africa's Top 250 Companies for 2025, reveals that the six largest listed companies in North Africa are all Moroccan. At the top of the list is Morocco's Attijariwafa Bank, which saw a significant increase in value, rising from $10.8 billion last year to $15.6 billion. Following Attijariwafa Bank is Maroc Telecom, which grew from $8.7 billion to $11.1 billion. Next in line is Managem, followed closely by Banque Centrale Populaire, transport operator Marsa Maroc (heavily involved in Africa's largest port, Tanger Med), and power company TAQA Maroc. Other Moroccan companies have made it to the Top 20 list, including LafargeHolcim Maroc (8th), Bank of Africa (9th), Ciments du Maroc (11th), Travaux Generaux de Construction de Casablanca S.A. (12th), COSUMAR (13th), Douja Promotion Groupe Addoha (16th), Akdital (17th), Wafa Assurance (18th), and TotalEnergies Marketing Maroc (19th). Moroccan companies outpace Egypt, one of the region's largest economies, with only two Egyptian companies making it to the top 13. According to African Business, aside from Morocco and Egypt, none of the other three North African countries have companies large enough to make the list. Libya, Algeria, and Tunisia are all absent from the top 20 largest listed companies in the region. Mauritanian companies did not appear on either of the two lists. The broader Africa's Top 250 Companies for 2025 ranking is dominated by South African firms, with Morocco ranking 7th, represented by Attijariwafa Bank.
