Morocco’s National Highway Company Faces $4 Billion Debt Crisis Amid Investment Shortfall

7 November 2021 – byGinette · 1 min read

A report on public establishments and companies reveals that at the end of 2020, the debts of the Société Nationale des Autoroutes du Maroc exceeded 40 billion DH, with investments amounting to only 921 million DH. A debt ratio of 65%, which confirms the call for help launched to the state by the company in 2020, declaring that the debt recorded during the social crisis was weighing heavily on its cash flow.

During the first six months of 2021, the investments made by the manager of the Moroccan motorways amounted to 400 million DH, i.e. a realization rate of 29%. It plans to reach up to 1 billion DH by the end of the year.

At the end of June 2021, the turnover had increased by 35% compared to last year. According to ADM, it could increase by 55% and reach 3.1 billion DH, if road traffic continues to develop at the same pace.

These figures are likely to further exacerbate the social tension that ADM is going through. A few days ago, three organizations affiliated with the trade union central the Moroccan Union of Labor (UMT) accused the general management of bypassing the rules of social dialogue and marginalizing the union delegates. They also accuse the management of having orchestrated "the squandering of public funds, the ambiguity, the improvisation that marks the management and implementation of the company’s strategy".

Category: Economy

Keywords:

Investment Moroccan Highways Revenue Finance Bill (2025 Morocco)