In a significant stride toward economic modernization, Morocco is stepping in to assist Mauritania in building its first-ever stock exchange, offering decades of financial expertise and infrastructure development know-how to its southern neighbor.

A protocol agreement signed between the Central Bank of Mauritania (BCM) and the Casablanca Stock Exchange marks a defining moment in Mauritania’s efforts to establish a formal financial market in Nouakchott. The signing ceremony, held Thursday, was attended by Moroccan Ambassador to Mauritania, Hamid Chabar, highlighting the growing cooperation between the two countries.

The initiative stems from commitments made during the meeting between King Mohammed VI and President Mohamed Ould El-Ghazouani in December. It represents a concrete step in South-South cooperation, with Morocco bringing close to a century of experience in capital markets to Mauritania’s emerging financial sector.

“The signing of this protocol with the Casablanca Stock Exchange represents a decisive step forward in our ambition to provide Mauritania with a modern, transparent, and inclusive financial market,” said Mohamed-Lemine Dhehby, Governor of the Central Bank of Mauritania

The agreement outlines a framework centered on three pillars, building a fully functional stock exchange, developing financial expertise through training and capacity-building, and enhancing cooperation between African economies through the exchange of best practices.

Tarik Senhaji, Director General of the Casablanca Stock Exchange, underscored the broader value of the project: “A stock exchange is much more than just a financing tool: it’s an infrastructure of trust, a financial acceleration engine, and a lever for economic transformation and influence,” 

Morocco will support the design of market architecture, regulatory frameworks, trading systems, and oversight mechanisms ensuring that Mauritania’s financial market meets international standards.

This strategic cooperation aims not only to empower local businesses and attract international capital but also to widen access to financial services in Mauritania, particularly among underserved populations.

Mauritania’s Foreign Minister, Mohamed Salem Ould Merzoug, noted that bilateral relations with Morocco are at an all-time high, and this project reflects the deepening of economic and diplomatic ties.

Ultimately, the Nouakchott Stock Exchange is envisioned as a regional hub that will help integrate Mauritania into the broader African financial ecosystem, reinforcing regional economic resilience and development.