Morning Brief April 25th, 2024

FINANCIAL MARKET HEADLINES

| MOROCCO | MAROC TELECOM | Adjusted NIGS almost stable in Q1 2024

| MAROC | TGCC | MCII Concrete Ltd sells its stake in the capital of TGCCS
According to AMMC, MCII Concrete Ltd sold on the central market, on April 18th 2024, 1,596,658 TGCC shares, at a unit price of
MAD 300, directly crossing downwards the 5% participation threshold in the capital of TGCC.
Following this transaction, MCII Concrete Ltd no longer holds any TGCC shares.

ECONOMIC HEADLINES

| NIGER | INFLATION | An inflation rate of 8.5% in March 2024
According to the National Institute of Statistics (INS), Niger's Harmonized Consumer Prices Index shows an increase of 0.7% in
March 2024 compared to the previous month. Year-on-year, the inflation rate stood at 8.5%.