Morning Brief August 12th 2024

FINANCIAL MARKETS HEADLINES

| MOROCCO | ARADEI CAPITAL | Invitation to a Combined General Meeting for a capital increase
The shareholders of Aradei Capital are convened to a Combined General Meeting on September 12th 2024. This meeting should decide on a capital increase up to a maximum amount including issue premium of MAD 400 Mn to be carried out by issuing shares at a price of MAD 480 per share, including MAD 100 as nominal and MAD 380 as an issue premium with the removal of the share-holders' preferential subscription right in favor of identified investors.

ECONOMIC HEADLINES

| MOROCCO | LENDING RATES | The weighted average rate up 3 BPS in Q2 2024
According to the results of Bank Al-Maghrib's survey on lending rates in Q2 2024, the overall weighted average rate settled at 5.43%, up 3 BPS compared to the previous quarter. In this context, the lending rates rose by 25 BPS to 5.30% for mortgage loans and 6 BPS to 5.39% for treasury loans. Meanwhile, rates fell by 11 BPS to 5.02% for equipment loans and by 19 BPS to 7.03% for consumer loans.

| BENIN | INFLATION | An inflation rate of 1.0% in July 2024
According to the National Institute of Statistics and Demography (INSTAD) of Benin, the Harmonized Consumer Prices Index in-creased by 0.5% in July 2024 compared to the previous month. On an annual basis, the inflation rate stands at 1.0%.

 

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