| Name | TGCC – Travaux Généraux de Construction de Casablanca |
|---|---|
| Sector | Construction of buildings and facilities |
| Listed | Casablanca Stock Exchange, since December 2021 |
Who is TGCC?
Founded in the early 1990s by entrepreneur Mohamed Bouzoubaa, TGCC is one of Morocco’s leading builders. It builds large buildings: head offices, hotels, hospitals, shopping centres, housing, sports venues and industrial sites. The group has also grown abroad, especially in West Africa.
A successful IPO
TGCC listed in December 2021, combining new shares and shares sold by existing owners. This IPO helped bring Moroccan individuals back to the stock market, before Akdital, Cash Plus and SGTM.
Growth drivers
- Big sporting events: preparing for the 2030 World Cup means new stadiums, hotels and infrastructure.
- Private investment in hotels, healthcare and office buildings.
- Growth in Africa, which spreads its revenue.
Risks to watch
- The construction cycle: activity depends on public and private investment.
- Pressure on margins from material costs and competition.
- Execution risk on many projects at the same time.
- Country risk outside Morocco.
Key figures to follow
Order book (future revenue), operating margin (profitability), net debt (financial strength) and dividend per share.
How to buy TGCC shares
Buying goes through a securities account with a bank or broker. Compare platforms in our guide to online brokers.
Frequently asked questions
What is the difference between TGCC and SGTM?
Both are construction groups. TGCC is mainly known for buildings and large facilities, while SGTM is known for civil engineering and large infrastructure (dams, ports, roads).
Does TGCC pay dividends?
Dividends are voted each year by the general meeting. See our 2026 dividends guide.
This article is for information and educational purposes only. It is not investment advice or a recommendation to buy or sell any security. Investing in shares involves a risk of capital loss. Check figures against official sources (Casablanca Stock Exchange, AMMC) and consult a licensed professional. Read the full disclaimer.
