Attijari Intermédiation

What Attijari Intermédiation does

Attijari Intermédiation is the brokerage and capital markets intermediation subsidiary of Attijariwafa Bank, headquartered in Casablanca, Morocco. Founded in 1995 and operating with a team of approximately 32 across trading, research, sales, and operations functions, the firm executes buy and sell orders on the Casablanca Stock Exchange for institutional investors, private clients, and self-directed retail users, and serves as lead manager or syndicate member on Moroccan IPOs, capital increases, and bond issuances. Named mandates since 2004 include IAM, Taqa Morocco, Saham Assurance, Delta Holding, CGI, and SNEP, with cumulative placements around 10 billion MAD by end of 2022.

The technology stack combines an electronic web trading platform with mobile applications, an institutional algorithmic execution service offering (VWAP, inline, MOC, hidden liquidity access), and the WafaBourse.com self-serve brokerage portal. Regional expansion is delivered through Tunisia (via Attijari Bank branches) and West Africa (via the Attijari Securities West Africa subsidiary and the Bourse Connect digital platform for the BRVM/UEMOA regional market). The firm also provides custody, shareholder register maintenance, and Corporate Access services (roadshows, conferences, site visits) to foreign investors.

Revenue is generated through transaction commissions on brokerage, placement and underwriting fees on IPOs and capital increases, professional services fees from Corporate Access, and algorithmic execution mandates for institutional clients. Customer mix spans institutional investors, foreign institutions, corporate issuers, and retail/self-directed users, with channels including direct sales, digital self-serve (WafaBourse.com), referral through the Attijariwafa Bank branch network, and event-driven Corporate Access. Market position as of end 2022: approximately 27% share of foreign institutional and individual flows on the central market, and over 40% share of the online stock market segment, recognized with the 'Best Moroccan Broker' designation.

Name

Attijari Intermédiation

Legal name

Attijari Intermédiation

Website

https://ati.ma

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Attijari Intermédiation is the Casablanca-based, Attijariwafa Bank–owned broker intermediating equity and bond trading on the Casablanca Stock Exchange and leading major Moroccan IPOs. It serves institutional, corporate, and retail clients via web/mobile trading, algorithmic execution, and pan-African reach into Tunisia and BRVM West Africa.

Ownership category

akta.pro rank

Product category

Securities Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Co-Investment Syndication & Allocation Intermediation (FSAEALAH)

Keywords

• Stock brokerage services
• Securities trading
• Investment banking
• Online trading platform
• Equity research

Headquarters

HQ city

Casablanca

HQ country

Morocco

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Brokerage and Securities Trading: Execution of buy and sell orders for transferable securities (shares and bonds) listed on the Casablanca Stock Exchange, generating revenue through transaction commissions and fees
2. Investment/Placement Services: IPO and public offering placement services for issuers, capital increases, and other securities offerings. Revenue generated through placement fees and syndicate roles in stock market operations
3. Advisory and Execution Services: Personalized advisory services and tailored solutions for investors, including post-trade follow-up and algorithmic execution services for institutional clients
4. Corporate Access Services: Services to foreign investors including roadshows, conferences, seminars, field trips, and access to economic and financial experts for portfolio integration into Moroccan market

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels4 records

Core offering

Attijari Intermédiation is a Casablanca-based stock market intermediary that executes buy and sell orders on listed securities for institutional and retail clients on the Casablanca Stock Exchange and partner African exchanges. The firm operates proprietary electronic trading platforms (Wafabourse.com and Bourse Connect), provides primary-market capital placement services (IPOs and corporate debt/equity placements), and offers research, custody, corporate access, and algorithmic execution across Morocco, Tunisia, and West Africa (BRVM/UEMOA).

Product overview

Attijari Intermédiation is the leader in stock market intermediation in Morocco with a pan-African presence across 4 markets. The company offers a comprehensive suite of brokerage and financial services comprising: its core brokerage intermediation platform (web and mobile) for executing equity and bond trades on the Casablanca Stock Exchange; Wafabourse.com for online self-directed trading; Bourse Connect for regional West African market access via BRVM; Corporate Access services for institutional investors; Research & Analysis; algorithmic execution services; and investment/placement services including IPO support and capital increases. The company also operates through its subsidiary Attijari Securities West Africa for UEMOA regional market operations, and provides custody and record-keeping services for corporate clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Core Brokerage (Equity Execution Services) Execution of buy and sell orders on listed securities on the Casablanca Stock Exchange and partner African exchanges for institutional and retail clients; includes voice brokerage, electronic execution, and post-trade settlement handling.
• Wafabourse.com (Online Trading Platform)

Quantifiable outcome

• 27% market share on foreign institutional flows
• +2 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered major, core and minor.

• Wafa GestionmajorStrategic or Co-development PartnerLeading asset management company in Morocco, founded in 1995. Backed by Attijariwafa Bank and Amundi. Offers personalized investment advisory and asset allocation services, providing complementary wealth management solutions to clients.
• AGR (Attijari Global Research)majorStrategic or Co-development PartnerResearch company of Attijariwafa Bank Group dedicated to African financial markets. Provides multi-asset and multi-zone coverage including macro-economy, rates, exchange, equities, commodities, and asset allocation strategies for WAEMU, CEMAC, Tunisia, Egypt, and Morocco. Offers research publications, conf-calls, and investment strategy committees.
• Attijari Finance CorpmajorStrategic or Co-development PartnerInvestment banking subsidiary of Attijariwafa Bank group holding 40% of M&A market flows in Morocco. Collaborates on IPOs and corporate finance transactions, providing merger and acquisition advisory services that complement Attijari Intermediation's placement services.
• Attijari Securities West Africa (SGI)coreChannel Partner/ Reseller/ DistributorSubsidiary company enabling direct operations on the regional stock market of the UEMOA area (BRVM). Allows investors to access West African markets through the Bourse Connect digital platform for securities trading and issuer capital raising.
• Attijari SicarminorStrategic or Co-development PartnerSpecialized investment company within Attijari Bank group providing venture capital and private equity solutions. Referred for corporate client needs in high-level transactions and cash management optimization.
• Attijari GestionminorStrategic or Co-development PartnerSpecialized management company within Attijari Bank group. Referred for corporate client needs in financial management and complementary professional services.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Others

• Wafa Gestion: Leading Moroccan asset manager within the Attijariwafa Bank group, jointly owned with Amundi; provides adjacent investment solutions and cross-referral opportunities rather than direct brokerage competition.

Broad incumbents

• Société Générale Marocaine de Banques: Major Moroccan banking group offering brokerage and capital-markets services as part of a broader financial services portfolio, overlapping with Attijari's intermediation franchise.
• Renaissance Capital Africa: Emerging-markets-focused investment bank with a dedicated Africa franchise covering equity brokerage, IPO placement, and research across Sub-Saharan and North African markets, partially overlapping Attijari's pan-African intermediation mandate.
• Macquarie Asset Management Africa: Global financial group with a growing Africa presence in capital markets and asset management; competes for institutional mandates and cross-border flows that Attijari serves through Corporate Access and brokerage.
• JPMorgan (North Africa): Global bulge-bracket bank with North African corporate access and emerging-markets execution capabilities, competing with Attijari's Corporate Access and institutional intermediation services for foreign-investor flow.

Direct peers

• Upline Securities: Moroccan securities firm providing brokerage, trading, and capital markets services, competing with Attijari Intermédiation in the Casablanca intermediation market.
• CFG Marchés: Moroccan broker affiliated with CFG Bank, offering equity brokerage and capital markets services on the Casablanca Stock Exchange in direct competition with Attijari.
• BMCE Capital Markets (Bank of Africa Capital Markets): Moroccan securities brokerage and capital markets arm of Bank of Africa (formerly BMCE), directly competing with Attijari Intermédiation on Casablanca Stock Exchange equity brokerage, IPO placement, and research.

Regional players

• Ecobank Capital: Pan-African banking group with capital-markets and brokerage activities across multiple African jurisdictions, providing comparable multi-market intermediation services to those offered via Attijari Securities West Africa.
• Amen Capital: Tunisian brokerage and investment firm operating on the Tunis Stock Exchange; comparable to Attijari's Tunisian intermediation activities via the Attijari Bank branch network.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/attijari-interm%C3%A9diation

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Attijari Intermédiation