Morning Brief december 28th, 2022

FINANCIAL MARKET HEADLINES
| MOROCCO | BCP | Crossing of participation threshold
According to AMMC, Banques Populaires Fes Meknes, Nador Al Hoceima, Tanger Tetouan and Marrakech Beni Mellal crossed downwards the participation threshold of 5% in the capital of Banque Centrale Populaire, following sales achieved on the block market at a unit price of MAD 234. Thus, each one of the banks mentioned holds 4.4% in the capital of BCP.
During the six months following the threshold crossing, these banks intend to stop their sales on BCP share.

ECONOMIC HEADLINES
| WAEMU | GDP | BCEAO forecasts a growth rate of 6.6% in 2023
According to the Central Bank of West African States (BCEAO), the growth rate of economic activity in the WAEMU region is ex-pected to reach 5.7% in 2022, compared with 6.1% in 2021. It should settle at 6.6% and 6.8% respectively by 2023 and 2024.

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