For several years, Morocco has engaged in a positive dynamic thanks to the shareholder participation of the State in the process initiated by His Majesty King Mohammed VI, aimed at ensuring the food, health and industrial sovereignty of the country. This ambitious project aims to manage participations in public establishments and enterprises (EEP) to contribute to national socio-economic development by refocusing the role of the State.
State shareholder policy is changing. Two key legislative texts, namely framework law 50-21 on the reform of EEPs and law 82-20 relating to the creation of the National Agency for the Strategic Management of State Participations (ANGSPE), were strengthened by other texts, in particular those concerning the governance of EEPs and the establishment of the consultation body on State shareholder policy.
These essential foundations define the State Shareholder Policy (PAE) and its multiple objectives aim to establish the foundations of a sovereign State, thus guaranteeing food, industrial and health sovereignty.
Among the seven strategic orientations presented to King Mohammed VI by the Minister of Economy and Finance, Nadia Fettah Alaoui, during the last council of ministers, is that of intensifying the integration of the Kingdom at the regional and international level. This includes the implementation of South-South cooperation, the creation of synergies with the private sector through public-private partnerships (PPP), particularly with public hospitals. Territorial equity is also highlighted to promote economic, social, financial and digital inclusion within the framework of advanced regionalization.
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All of these objectives will lead to an effective state shareholder policy, which will be detailed in a roadmap developed by the agency and submitted for approval at the next Council of Ministers.
The project will be submitted to the consultation body in accordance with Law 82-20 to obtain its opinion and introduce any necessary modifications in order to improve the performance of State participations.
During the last council of ministers, several companies were added within the EEPs, notably the Grand Atlas Development Agency, the National Social Assistance Agency, the High Health Authority, the Territorial Health Groups, the Agency Moroccan Agency for Medicines and Health Products and the Moroccan Agency for Blood and its Derivatives. On the other hand, the Higher Institute of the Judiciary was removed from the list of strategic public establishments.
Privatization: 9 billion dirhams planned for 2024
The Moroccan public portfolio includes 227 public establishments at the end of 2023, 45 companies with direct participation from the Treasury and 517 subsidiaries and participations. In 2022, the turnover of EEPs reached 332 million dirhams, up 16.5% compared to the previous year.
According to the 2024 finance law, proceeds from asset sales and privatizations should bring in 9 billion dirhams in 2024. For the following years, 2025 and 2026, this amount is estimated at 3 billion each. In total, this amounts to 15 billion dirhams which should be integrated into the State account over the next three years. The list of companies likely to be privatized includes Maroc Telecom, Marsa Maroc, Biopharme, Sonacos, Energie Electrique de Tahaddart and the La Mamounia hotel.
