Morocco’s Casablanca Stock Exchange has signed a landmark cooperation agreement with the Central Bank of Mauritania to assist in the establishment of Mauritania’s inaugural stock market in the capital, Nouakchott.
Announced jointly on 18 April 2025, the agreement underscores Mauritania’s ambition to broaden its economic base, diversify its funding mechanisms, and position itself as a competitive destination for foreign direct investment. According to the official communiqué issued by both institutions, the Casablanca Stock Exchange will provide comprehensive technical, operational, and strategic expertise in the formation and structuring of the new bourse.
The partnership is particularly significant given the current momentum in Mauritania’s resource-driven economy. Historically reliant on extractive industries—namely iron ore, gold, copper, and more recently, offshore natural gas—Mauritania is now seeking to develop a more robust and inclusive financial ecosystem that can attract long-term capital and enhance investor confidence.
The Casablanca Stock Exchange, currently the second-largest bourse on the African continent by market capitalisation, reached a valuation of 899 billion Moroccan dirhams (approximately USD 97 billion) as of 18 April 2025. Its experience in overseeing one of Africa’s most established financial markets positions it as an instrumental partner in guiding Mauritania through the complex process of establishing market infrastructure, regulatory frameworks, and investor engagement strategies.
The development is also consistent with Morocco’s broader economic diplomacy and regional investment strategy. Over recent years, Moroccan financial institutions and conglomerates—spanning sectors such as insurance, mining, telecommunications, fertilisers, and real estate—have been increasingly expanding their footprint across West Africa, reinforcing inter-regional economic ties and enabling knowledge transfer.
The prospective Nouakchott stock exchange is expected not only to enhance Mauritania’s integration into global capital markets but also to serve as a platform for domestic companies to access financing, improve corporate governance, and elevate transparency in business operations. The initiative aligns with international development frameworks which advocate for the strengthening of local financial systems as a catalyst for sustainable growth and resilience in developing economies.
The establishment of a functioning capital market in Mauritania will likely require coordinated regulatory reform, capacity building, and investor education—areas in which Morocco’s capital markets regulator and financial training institutions may also offer support. The collaboration illustrates the growing trend of South-South cooperation in Africa, whereby regional expertise is mobilised to bridge infrastructural and institutional gaps in emerging markets.
This partnership marks a pivotal step for Mauritania’s financial future and may signal further cross-border collaborations aimed at reinforcing the architecture of African capital markets. As global investors continue to search for untapped frontier markets, Nouakchott’s forthcoming bourse could serve as a symbol of economic transformation and strategic connectivity across the region.
