The Casablanca Stock Exchange and the BCM mark a new stage of cooperation between Rabat and Nouakchott
- South-South strategic cooperation for the regional stock market
- Towards a new stage between Rabat and Nouakchott
Morocco and Mauritania have consolidated their bilateral relations through the signing of a cooperation agreement between the Casablanca Stock Exchange and the Central Bank of Mauritania (BCM) to create the Nouakchott Stock Exchange.
This is a strategic project that aims to modernize the Mauritanian financial market, strengthen local capacities, and promote regional economic cooperation.
This initiative, the result of the joint will of King Mohammed VI and President Mohamed Ould El-Ghazouani,represents an important step in the establishment of the future Nouakchott Stock Exchange and seeks to strengthen bilateral cooperation between the two countries and the commitment of both institutions to develop regional stock markets.
South-South strategic cooperation for the regional stock market
The protocol, signed on Thursday, April 17, by Mohamed-Lemine Dhehby, Governor of the Central Bank of Mauritania, and Tarik Senhaji, Director General of the Casablanca Stock Exchange, in the presence of Hamid Chabar, Ambassador of the Kingdom of Morocco to Mauritania, is part of Mauritania's strategy to boost its economy.
The strategic cooperation between Morocco and Mauritania aims to create a modern, connected stock market that complies with international standards, with a view to supporting local businesses, promoting national savings, and integrating the country into the global financial system, as well as diversifying its sources of financing and attracting foreign investment.
With nearly a century of experience, the Casablanca Stock Exchange is committed to providing technical, operational, and strategic support to assist in the implementation of the Mauritanian project. The objectives include the development of an inclusive stock market and the strengthening of local capacities through training programs.
In this regard, the promotion of South-South cooperation and the exchange of best practices are among the priorities of the bilateral project that unites the two countries for their mutual benefit.
Tarik Senhaji recalled in this context that “a stock exchange goes beyond the simple role of a financing instrument, as it also represents an infrastructure of trust and a factor of economic transformation,” expressing Morocco's pride in accompanying Mauritania and the Central Bank in this historic stage for the neighboring country.
For his part, Dhehby stressed that “the agreement signed with Morocco is a decisive step towards the ambition of providing Mauritania with a modern, transparent, and inclusive financial market.”
The Governor of the Central Bank of Mauritania placed particular emphasis on the importance of this strategic cooperation in building a solid financial ecosystem capable of channeling national savings towards productive investment and attracting international capital, thereby positioning Mauritania as a credible player on the regional financial scene.
Both sides have maintained that “the signing of the cooperation agreement reflects the determination of the two institutions to continue their fruitful collaboration and their shared commitment to a prosperous and sustainable economic future in Mauritania and the region.”
Towards a new stage between Rabat and Nouakchott
The memorandum of understanding signed by Morocco and Mauritania, particularly between the Casablanca Stock Exchange and the Central Bank of Mauritania (BCM), not only represents a cooperation with great potential for the region, but also symbolizes the launch of a new stage in the rapprochement between Rabat and Nouakchott, based on well-structured and lasting financial cooperation.
The ambitions of this new phase of strategic cooperation are based on three main pillars:
- The creation of an inclusive and modern stock market in Mauritania.
- The development of local skills through training and capacity-building programs.
- The active promotion of South-South cooperation, based on the exchange of experience and the sharing of best practices.
In order to achieve these objectives, the Casablanca Stock Exchange is committed to providing technical, operational, and strategic expertise to support Mauritania in establishing a stock market that complies with international standards.
The first step will be to develop a financial infrastructure capable of attracting capital, mobilizing national savings, and supporting the growth of local businesses.
The Al-Alawi Stock Exchange will provide Mauritania with technical and strategic support covering, in particular, market architecture, listing systems, regulation, and supervisory mechanisms.
With this support, the Moroccan institution is contributing not only to the structuring of the Mauritanian market but also to the strengthening of regional economic integration.
Mohamed-Lemine Dhehby, Governor of the Central Bank of Mauritania, praised the cooperation with a leading institution such as the Casablanca Stock Exchange, describing it as “an institution capable of channeling savings towards productive and sustainable investments.”
Dhehby also clarified that “this project aims to build the foundations of a strong and transparent financial ecosystem in order to position Mauritania as a credible player on the regional financial scene.
For his part, the CEO of the Casablanca Stock Exchange, Tarik Senhaji, emphasized the role played by the central stock exchange in accelerating economic transformations and establishing a climate of confidence.
Beyond the structuring of African financial markets, this strategic cooperation for the regional stock market reflects the declared willingness of both countries to build bridges between the economies of the continent.