Morning Brief - february 18th, 2021

FINANCIAL MARKET HEADLINES

| MOROCCO | LABEL VIE | NIGS up 6% in 2020, DPS raised to MAD 60

Indicators (MAD Mn)	2019	2020	Change
Revenue	10 396	11 012	5,9%
EBITDA	790	910	15,2%
EBITDA margin	7,6%	8,3%	+0,7 pts
NIGS	312	330	5,9%
Net margin	3,0%	3,0	-
DPS (MAD)	56,36	60	6,5%

 

| MOROCCO | DISWAY | Consolidated revenue up 5.3% in 2020

In 2020, Disway's consolidated revenue stood at MAD 1,709 Mn compared to MAD 1,623 Mn a year earlier, recording an increase of 5.3%.

ECONOMIC HEADLINES

| MOROCCO | INVESTMENT | Approval of investment projects worth MAD 11.3 Bn

The investment commission held under the chairmanship of the head of government on February 17th 2021 approved 34 projects for a total amount of MAD 11.3 Bn. These should generate 3,500 direct jobs and 5,819 indirect jobs. These projects will be as follows :

29% in the tourism and leisure sector, 22% in transport and infrastructure, 20% in education and higher education, 18% in renewable energies and desalination of seawater and finally 11% in industry.

| TOGO | INFLATION | Prices up 1.9% y-o-y in January 2021

According to the National Institute of Statistics and Economic and Demographic Studies, Togo's Harmonized National Consumer Price Index rose slightly by 0.2% in January 2021, compared to the previous month. Year-on-year, the inflation rate stands at +1.9% below the community convergence threshold set at 3.0% by WAEMU.

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