Morning Brief December 4, 2020

FINANCIAL MARKET HEADLINES

| MOROCCO | CARTIER SAADA | Profit warning

In a press release, Cartier Saada announces a loss during the period from 04/01/2020 to 09/30/2020 relating to the current health crisis. This is explained by (1) the drop in sales, (2) the achievement of the shortest apricot season in decades, (3) the decline in productivity and finally, (4) the increase in depreciation charges related to strategic investments.

 

ECONOMIC HEADLINES

| MOROCCO | PORTS | Port traffic up 4% at the end of October 2020

In October 2020, traffic carried through the ports managed by the ANP reached an overall volume of 6.8 million tons, i.e. a de-crease of 17.7%. Meanwhile, port traffic during the first 10 months of 2020 increased by 4.2% year-on-year to 77.4 million tons.

| WAEMU | INFLATION | Prices up 3.4% y-o-y in October 2020

According to the Central Bank of West African States, the inflation rate in WAEMU member countries stood at 3.4% in October 2020, year-on-year. This is mainly due to the price increase in the “Food and non-alcoholic beverages” (+2.6%), “Housing” (+0.3%), “Transport” (+0.2%) and “Restaurants and Hotels” (+0.2%).

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