Morocco has become the first — and currently only — African sovereign to hold an investment grade rating from Standard & Poor’s on the eurobond market, a distinction that marks a significant turning point in the country’s financial standing and its positioning among emerging market economies. The upgrade places Morocco alongside Botswana (BBB), Mauritius, and Saint Helena (BBB-) — well above regional heavyweights such as South Africa (BB), Egypt (B), and Nigeria (B-). GDP growth is projected to average around four percent annually between 2025 and 2028. It is an implicit contract with markets, conditional on continued reforms, debt discipline, and transforming investment into inclusive growth,” warned economist Adnane Benchekroune. The investment grade label, analysts agree, is a credibility milestone — but the harder task of converting it into tangible economic gains lies ahead.

Source: The North Africa Journal February 27, 2026 03:58 UTC