Morning Brief of February 14th 2025

FINANCIAL MARKETS HEADLINES

| MOROCCO | MAROC TELECOM | Recurring NIGS down 1% in 2024, DPS lowered to MAD 1.43

| MOROCCO | SANLAM MAROC | Net income up 6% in 2024, DPS raised to MAD 81

ECONOMIC HEADLINES

| MOROCCO | FISHING | Sector’s revenue up 22% in January 2025
According to the National Fisheries Office, landings of inshore and artisanal fishery products declined by 13% in January 2025 to
stand at 30,429 tons. Meanwhile, the sector's revenue settled at MAD 1.4 Bn during the same period increasing by 22% y-o-y.

| TUNISIA | FOREIGN TRADE | Widening of the trade deficit in January 2025
In January 2025, Tunisia's exports declined by 2.4% to TND 5,025.8 Mn. Meanwhile, imports increased by 18.6% to settle at
TND 6,791.3 Mn during the same period. In this context, the trade deficit went from TND -577.6 Mn in January 2024 to
TND -1,765.5 in January 2025. Finally, the coverage rate stood at 74.0%, down 15.9 points compared to the same period of the
previous year.

 

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