The Casablanca Stock Exchange in Morocco is a small but active stock exchange in Africa. The third oldest stock exchange in Africa, it was established in 1929 and currently has 14 members and 68 listed securities.

The exchange is relatively modern, having experienced reform in 1993. It has an electronic trading system. There are plans to implement a central scrip depository.

The Casablanca and Tunisian stock markets are covered in a quarterly report on Arab stock exchanges established by the Abu Dhabi-based Arab Monetary Fund. The report includes individual indices for each market, as well as a weighted composite tracking four Middle Eastern and the two North African bourses.

The Association Professionelle des Societes de Bourse formulates the rules and procedures for trading and Le Conceil Deontoligique des Valeurs Mobilieres performs a monitoring function.

There are no restrictions on foreign investment on the Casablanca Stock Exchange, nor on foreign ownership of companies. Trading days are Monday to Friday, between 09h00 and 15h30, with an OTC market also operating. Brokerage charges are 0.6% on traded value less than D1 million to 0.35% on more than D2,5 million in traded value. VAT of 10% is payable. There is a 10% tax on dividends which applies to both local and foreign investors, but there is no capital gains tax.

At the end of December 2006, market capitalisation was: MAD 417.1 billion and trading volumes MAD 166.4 billion. At the end of 2006, the Masi®Float and the Madex®Float recorded annual gains of 71.14% and 77.66% respectively to close at the 9,479.45 and 7,743.81 levels. .

Shaun Bakamoso

Greetings. I'm Shaun Bakamoso, and I'm thrilled to be your guide through the dynamic world of business news in South Africa here at mbendi.co.za. With a passion for staying informed and a keen interest in the ever-evolving landscape of business, I've dedicated myself to providing you with timely, insightful, and comprehensive coverage of the latest developments impacting the South African economy. bakamoso@gmail.com / Instagram