EQUITY OCT

Listed Companies - H1-24 Results

For the H1-24, listed companies have published positive operational and financial results. This is reflected through a 56% achievement rate( of profits in H1-24, compared to our initial forecasts re-garding the AGR-30 stock universe.

FIXED

Key Rate - September 2024

The confirmation by the Court of Appeal of the fine worth MAD 6.4 Bn payable to Wana Corporate, then the disbursement of this amount by Maroc Telecom, constitute, in our opinion, the end of a long regulatory episode which weighed on the stock’s performance.

STRATEGY

Morocco Key Rate Expectations - September 2024

During our recent survey, we identified investors' expectations regarding the evolution of the Moroc-can Central Bank Key rate during its 3rd monetary policy meeting scheduled for September 24th, 2024.

LISTED

Listed companies results Q2-24

The publication of listed companies’ mid-term results took place in a context marked by the continued easing of inflation.

FIXED INCOME

AGR-ABI S1-2024

After an almost two-year lull, Sub-Saharan African issuers are clawing their way back in international markets. In fact, with a few exceptions, African countries were largely excluded from the international Eurobonds market.

equity en

Buy Recommendation : Moroccan Banks

In this Research Paper, we focused on the evolution of the valuation multiples of the Banks index and the MASI index over the period 2010-2024E.

AKDITAL

AGR AKDITAL CI 2024

Akdital's capital increase of MAD 1.0 Bn is a continuation of its development model which is mainly “growth” focused. [...]

STRATEGY

Morocco Key Rate Expectations - June 2024

During our recent survey, we identified investors' expectations regarding the evolution of the Moroccan Central Bank Key rate during its second monetary policy meeting scheduled for June 25th, 2024.

EQUITY JUIN

Q1-24 Listed Companies Results

During this 1st quarter of 2024, the activity of listed companies evolved within a general context marked by: (1) The decline in inflation to 1.2% on average, (2) Unfavorable weather conditions leading to a contraction of Crop Value Added by -3.9%, (3) The announcements of several pro-jects within the framework of AFCON 2025, the World Cup 2030, th [...]