Morocco’s leading telecom company, Maroc Telecom, has successfully raised MAD 3 billion (approximately $330 million) through its first private bond issuance in the domestic market, according to Al Maghrebia. The raised funds will be partly used to refinance existing debt, while a significant portion will be allocated to expanding the company’s 5G and fiber optic infrastructure as part of its ongoing commitment to strengthening digital networks.
The bond carries a fixed interest rate of 2.37% and will mature in two years, reflecting confidence in Maroc Telecom’s financial stability and growth strategy. Maroc Telecom is majority-owned by UAE’s Etisalat, which holds 53%, while the Moroccan state retains a 22% stake.
Maroc Telecom’s revenue streams are diversified, with around 40% generated from its African subsidiaries operating in countries such as Burkina Faso, Côte d’Ivoire, Benin, the Central African Republic, Chad, Gabon, Mali, Mauritania, Niger, and Togo.
In the first quarter of 2025, Maroc Telecom reported a 5.9% decline in net profit to $154 million, alongside a 2% decrease in consolidated revenue to MAD 8.8 billion. This decline was mainly attributed to a 3.7% drop in revenue from its operations in Morocco, while its African subsidiaries experienced a 4.1% revenue increase.
The company’s customer base continued to grow, reaching 80 million users by the end of March 2025, marking a 3.6% increase.
In recent developments, Maroc Telecom partnered with the International Finance Corporation (IFC) to secure $425 million in credit facilities aimed at improving mobile connectivity and accelerating 4G network deployment in Chad and Mali, further supporting its regional expansion and digital infrastructure enhancement efforts.
