Economic and financial headlines of March 27, 2025

Financial Market Headlines

| MOROCCO | EUROBOND | Issuance of a Eurobond for a total amount of € 2 Bn

Morocco has issued a bond loan on the international financial market for a total amount of € 2.0 Bn. This is divided into two tranches. The first has a maturity of 4 years for an amount of € 900 Mn while the second concerns an amount of € 1.1 Bn with a maturity of 10 years.

| MOROCCO | MANAGEM | NIGS up 21% in 2024, the DPS raised to MAD 40

| MOROCCO | TGCC | NIGS up 44% in 2024, the DPS raised to MAD 11.5

| MOROCCO | JET CONTRACTORS | Consolidated net income up 82% in 2024, the DPS raised to MAD 15

| MOROCCO | SBM | NIGS down 66% in 2024

| MOROCCO | ALUMINIUM DU MAROC | A profit of MAD 37 Mn in 2024 against MAD 7 Mn in 2023

| MOROCCO | DISTY TECHNOLOGIES | Net income up 3% in 2024, the DPS raised to MAD 16.5

Economic Headlines

| SENEGAL | PUBLIC FINANCES | Reduction of the fiscal deficit in January 2025

In January 2025, Senegal’s total resources amounted to FCFA 305.5 Bn, i.e. an increase of 43.1% year-on-year. Meanwhile, public expenditure fell by 4.2% over the same period to FCFA 430.1 Bn. In this context, the fiscal deficit stood at FCFA -124.6 Bn in January 2025 compared to FCFA -245.5 Bn in January 2024.