2023-10-26 20:31:06
The sale of public companies and the transfer of assets will bring the state an amount of 9 billion dirhams in 2024, according to a report added to the draft budget. This measure aims to strengthen public finances and stimulate the country’s economic growth. Better, with this financial windfall will allow the government to strengthen the financing of the social program.
In its document relating to the 2024 draft budget, the government indicates that, in addition to the existing state participations in the companies to be privatized, other companies and assets of strategic importance will be put up for sale. Among the companies to be privatized are Maroc Telecom, the Mamounia hotel, the electricity company Tahaddart, the biological pharmaceutical company and the seed sales company SONACOS.
In 2025 and 2026, privatizations and asset transfers are expected to generate 3 billion dirhams each year. This significant injection of funds will allow the government to finance development projects, improve infrastructure, stimulate economic growth and above all reduce the social program financing slate.
However, until the end of September, no privatization process had been completed, although three asset sales operations were expected for a total amount of 2.88 billion dirhams. This situation calls on the government to accelerate these processes to achieve the objectives set in terms of revenue from privatization.
Revenues from the privatization of public companies are crucial for economic development in a context of recovery after several exogenous factors linked to geopolitical and health crises. By allowing greater private sector participation, these measures promote competition and efficiency, stimulate investment and create employment opportunities.
The privatization of Maroc Telecom, for example, can also lead to an improvement in the services offered to consumers, thanks to the expertise and potential investments of private players in the telecommunications sector.
Additionally, the privatization of the Mamounia Hotel can pave the way for international partnerships and attract foreign investors interested in the tourism and hospitality industry.
However, when privatizing state-owned enterprises, the issue of appropriate regulations and mechanisms should be put in place to ensure transparency, prevent any form of corruption and protect the interests of consumers and workers. In the past, the privatization of the OCP group which helped stimulate the growth of the group which today is one of the largest national companies and even on the continent.
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