Morocco’s Business Failures to Ease, but Allianz Still Forecasts 14,950 in 2026

Morocco is expected to record 14,950 business failures in 2026, down 2% from the previous year. Despite this decline, the number would remain 86% above the average recorded between 2016 and 2019, according to a new report by Allianz Research, published on October 27.

The figures show the extent of the difficulties that have built up. Morocco recorded around 5,000 business failures in 2015, compared with more than 15,600 in 2024. The number fell to 15,307 in 2025, the first year of an improvement Allianz expects to continue.

For 2027, the credit insurer forecasts 14,350 business failures, a further decrease of 4%. This would put Morocco at odds with the global trend, as business failures are expected to rise by 5% worldwide in 2026, including by 3% in France and 8% in Germany.

Late payments are beginning to have an impact

Allianz attributes this improvement mainly to changes in payment practices between businesses. Legislation introduced in Morocco in 2023 and extended to very small businesses in 2025 has made late payments more costly. Economists are beginning to see its effects on business behavior.

Allianz’s assessment has also changed significantly. In its country profile on Morocco, updated in February 2026, the group still forecast a 10% increase in business failures in 2025 and a stabilization in 2026. Its new report now forecasts a 2% decline in each of those two years.

This change does not erase the weaknesses in Morocco’s economic fabric. Allianz points in particular to the high fragmentation of businesses and their structural difficulties, which are expected to limit improvement in the short and medium term.

In 2028, the number of business failures could fall to 13,800, 4% fewer than in 2027. It would nevertheless remain 72% above its pre-pandemic average.