In a major step toward financial modernisation and regional integration, Mauritania and Morocco have signed a landmark agreement to establish the country’s first stock exchange in Nouakchott.

The deal, signed on Thursday between the Central Bank of Mauritania (BCM) and the Casablanca Stock Exchange, underscores growing South-South cooperation and deepening economic ties between the two Maghreb neighbours.

The agreement, formalised in the presence of Moroccan Ambassador Hamid Chabar, marks what officials described as a “decisive step” in Mauritania’s drive to build a “robust, transparent, and resilient” financial ecosystem. It follows a high-level meeting between Morocco’s King Mohammed VI and Mauritanian President Mohamed Ould Cheikh El-Ghazouani in December.

Tarik Senhaji, Director General of the Casablanca Stock Exchange, said: “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.”

With almost a century of experience, the Casablanca Stock Exchange—Africa’s second-largest—will offer technical, operational, and strategic support. This includes assistance in building market architecture, regulations, quotation systems, and training programmes to develop local expertise.

Mauritania, rich in iron ore, gold, copper and natural gas, has struggled to diversify its economy. The new stock exchange is expected to help mobilise national savings, support local businesses, and attract vital foreign investment.

“The signing of this agreement marks a decisive step in our ambition to build a modern, inclusive financial market,” said BCM Governor Mohamed-Lemine Dhehby.

The initiative is expected to bolster Mauritania’s standing in regional markets, deepen its integration into the international financial system, and further solidify the political and economic alignment between Rabat and Nouakchott.