Back to home
technology 1 min readSeptember 8, 2026By Sibu Shangase

Who Owns Maroc Telecom?

Short answer: the UAE's Etisalat (now e&), which holds ~53%; the Moroccan state keeps ~22%.

Maroc Telecom — Morocco's dominant operator and a telecoms force across West and Central Africa — is controlled by Etisalat, the UAE group now branded e&. Etisalat bought a 53% controlling stake from Vivendi in 2014 for about €4.2bn 1 and holds around 53% today, with the Moroccan state keeping roughly 22% 2. It is listed in Casablanca and on Euronext Paris 2.

The former state monopoly that carries much of North and West Africa's connectivity now answers to Abu Dhabi. It's the Gulf-capital version of the pattern this desk tracks from Safaricom onward — foreign control of the pipes. See the full ledger.

By the NumbersOwnership at a glance
~53% e&/Etisalat[2]
The UAE group's controlling stake in Maroc Telecom
~22% Moroccan state[2]
The government's remaining holding
€4.2bn, 2014[1]
Etisalat's purchase of control from Vivendi

Get The Weekly Signal

The campaigns, culture and commercial intelligence shaping Africa and its diaspora.

References

  1. 1.Financier Worldwide — Etisalat buys controlling stake in Maroc Telecom for €4.2bnEtisalat bought a 53% controlling stake in Maroc Telecom from Vivendi in 2014 for ~€4.2bn.
  2. 2.Telecom Review — Etisalat increases Maroc Telecom ownership stake to 53%Etisalat/e& holds ~53%, the Moroccan state ~22%; Casablanca and Euronext Paris listings.
#whoowns#maroctelecom#etisalat#morocco#telecoms#valuecapture
SHARE:

WHAT DID YOU THINK?

SHARE:

READ NEXT

technology

Who Owns Airtel Africa?

Short answer: Bharti Airtel of India, which owns about 79% of the London- and Lagos-listed Airtel Africa.

technology

Who Owns Vodacom?

Short answer: Vodafone, the UK telecoms group, which holds ~65% of the JSE-listed Vodacom.

business

Who Owns OCP Group?

Short answer: the Moroccan state (~94%), with Banque Centrale Populaire holding the rest. A rare African giant that is almost entirely African-owned.

THE WEEKLY SIGNAL

Brand, culture and commercial intelligence for Africa and its diaspora. Delivered weekly.

READ THE INTELLIGENCE

The scored work behind this story.

MTN

Decode: MTN, the Champion That Stayed Public and African

75/100

AXA

The French Insurer That Bought Ubuntu: Decoding AXA's First Pan-African Campaign

56/100

Canal+ × MultiChoice (the end of Showmax)

Canal+ and the Death of Showmax: Who Owns African Screens

46/100
See MTN on the Index

The Cultural-Signal Index

Our authorship-weighted ranking of how brand and cultural work scores. Free leaderboard, methodology and data feed.

EXPLORE THE INDEX