Maroc Telecom reports profit surge as African expansion drives growth

RABAT – Maroc Telecom, Morocco's largest telecoms operator, said on Friday its net profit soared to 6.969 billion dirhams ($760 million) in 2025, distorted by a very low figure the previous year due to the settlement of a local‑loop unbundling dispute with its competitor.

The result was up 288 percent from 2024, when profit had been sharply depressed by a 6.368  billion dirham payment to rival operator Wana Corporate as part of the same settlement over local‑loop unbundling, which requires a dominant operator to give other providers access to its fibre network.

Excluding such one-offs, adjusted net profit fell 4.9 percent to 5.649  billion dirhams, as Maroc Telecom invested 25.6 percent of revenue with the rollout of the 5G network in Morocco.

Consolidated revenue slipped 0.1 percent to 36.6 billion dirhams.

The company said its customer base grew 3.6 percent to 77 million, driven by expansion in its African subsidiaries, marketed under the Moov Africa brand, while its Moroccan customer base remained stable at 22 million.

Maroc Telecom said it would pay a dividend of 4 dirhams per share, totalling 3.5 billion dirhams.

Listed in Casablanca and on Euronext Paris, the telecom operator is 53 percent owned by the UAE's Etisalat and 22 percent by the Moroccan state.

Besides Morocco, the group operates in Benin, Burkina Faso, the Central African Republic, Chad, Gabon, Ivory Coast, Mali, Mauritania, Niger and Togo.