Morning Brief of August 1st 2024

FINANCIAL MARKET HEADLINES

| MOROCCO | DISWAY | Consolidated revenue down 9% in H1 2024
In Q2 2024, Disway's consolidated revenue fell by -8.8% to MAD 404 Mn compared to MAD 443 Mn in Q2 2023. In H1 2024, it recorded a decline of -8.9% to MAD 842 Mn.

ECONOMIC HEADLINES

| MOROCCO | FOREIGN TRADE | A global trade deficit of MAD -64.5 Bn at the end of June 2024
At the end of June 2024, imports of goods and services amounted to MAD 384.8 Bn, up 3.5%. Likewise, exports increased by 3.1% to MAD 320.2 Bn. In this context, the trade deficit stood at MAD -64.5 Bn at the end of June 2024 compared to MAD -61.3 Bn a year earlier. The coverage rate remained almost stable at 83.2%.

Finally, Travel receipts, workers remittances and FDI receipts rose by 2,3%, 1.8% and 8.6% respectively to MAD 49.0 Bn, MAD 56.8 Bn and MAD 18.6 Bn.

| SENEGAL | FOREIGN TRADE | Widening of the trade deficit by end of June 2024
According to the National Agency of Statistics and Demography (ANSD), Senegal's exports fell by 6.5% at the end of June 2024 to 1,651.5 billion FCFA. Meanwhile, imports increased by 0.6% to FCFA 3,399.2 Bn. In this context, the trade balance shows a deficit of FCFA -1,747.7 Bn at the end of June 2024 compared to FCFA -1,611.5 Bn a year earlier.

 

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