Morocco’s telecommunications giant, Maroc Telecom (IAM), continued to expand its footprint across Africa in 2024, posting a 4.5% increase in its total customer base. The company now has 79.3 million subscribers across the continent, according to the company’s earnings report.
The growth in its subscriber base has been fueled by the strong performance of its subsidiaries under the Moov Africa brand. IAM’s customer base in Africa grew by a significant 8.1% last year.
Maroc Telecom’s Africa-focused strategy is paying off. Its subsidiaries across ten African countries contributed significantly to the group’s expansion, with mobile data services growing by 15.6% and fixed internet services climbing by 21.1%.
The company is capitalizing on rising demand for high-speed connectivity, particularly in West and Central Africa, where mobile penetration rates are soaring.
The group’s investments in mobile and fixed broadband infrastructure continue to drive adoption, particularly in Mauritania, Gabon, Mali, Burkina Faso, and Côte d’Ivoire, where fiber-optic deployments surged by 74% year-over-year.
Maroc Telecom outperforms its competitors in Morocco despite regulatory pressures. Fixed data revenue in Morocco grew by 9.2%, offsetting declines in voice services. The company is doubling down on high-speed fiber broadband, with its fiber-to-the-home (FTTH) network growing by 29% in the past year.
Maroc Telecom’s growth comes amid heightened regulatory scrutiny and increasing competition. The company recently renewed licenses in Mali and Chad and secured authorization to launch 4G services in the Central African Republic.
With a USD 1 billion investment plan over the next three years, Maroc Telecom is focused on strengthening network infrastructure, rolling out ultra-high-speed broadband, and boosting digital inclusion.