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Morocco planning to sell its state owned enterprises in Marco Telecom 2019 to raise funds

The Finance Minister and Economy Minister of Morocco announced that they are thinking of selling stakes next year in the 2019 Maroc Telecom. Right now, the company is raising about 5 billion dollars by selling off all the public enterprises. Maroc Telecom has been listed in two stock exchanges which are Euronext Paris and Casablanca Stock Exchange.

For now, the kingdom owns about 30 percent of the stake of the company. The Economy and Finance Minister Mohamed Benchaaboun said that Moroccan government will soon be opening up the whole capital of all the public enterprises to different private investors so that the state-owned enterprises can be restructured.

The stakes will be sold in public enterprises for the big boost in the liquidity in the Casablanca Stock Exchange. The Finance and Economy Minister Mohamed Benchaaboun also added that privatization and enterprises that are owned by the state will help in restructuring.