FINANCIAL MARKET HEADLINES
| MOROCCO | SNEP | Suspension of Oxygen deliveries and impact on SNEP's activity
In a press release, SNEP announces the suspension of oxygen deliveries for an indefinite period following a decision of the Minis-try of Industry, Trade and New Technologies on 08/23/2021. As a result, SNEP informs all of its partners that deliveries of Vinyl products (PVC Resin and Compounds), chlorine and hydrochloric acid, will be suspended when the current inventory runs out. However, the production and deliveries of electrolysis products, namely liquid soda, solid soda and bleach, will be kept at a slight-ly reduced rate.
| CÔTE D’IVOIRE | SIB CI | Net income up 27% in H1 2021
In H1 2021, SIB CI (Société Ivoirienne de Banque) recorded an increase of 9.1% year-on-year to FCFA 39.2 Bn. Similarly, the bank’s net income shows an increase of 27.0% to FCFA 19.0 Bn.
ECONOMIC HEADLINES
| CÔTE D’IVOIRE | INFLATION | Prices up 3.9% y-o-y in July 2021
According to the National Institute of Statistics of Côte d’Ivoire, the National Harmonized Consumer Prices Index of Côte d’Ivoire recorded a slight decrease of 0.001% in July 2021 compared to the previous month. Year-on-year, the inflation rate stands at +3.9% above the community convergence threshold of 3.0% set by WAEMU.
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