FINANCIAL MARKETS HEADLINES
| MOROCCO | CFG BANK | NIGS up 58% in 2024, DPS stable at MAD 3.3
| MOROCCO | MUTANDIS | Net recurring income up 25% in 2024, DPS stable at MAD 10.5
| MOROCCO | TGCC | Acquisition of a 60% stake in STAM’s capital
In a press release, TGCC announced the signing of an agreement for the acquisition of 60% of the capital of Société de Travaux Agricoles Marocains (STAM), a 55% shareholder of VIAS SA, from its historical shareholders. This acquisition will be accompanied by a capital increase of STAM intended to finance an additional 25% stake in VIAS, thus allowing STAM to reach 80% of the capital and voting rights of VIAS.
Note that the enterprise value of the STAM Group is estimated, in its entirety, at an amount of MAD 4.3 Bn, TGCC having already secured financing for the planned acquisition.
This acquisition should be finalized during Q2 2025 and remains subject to the fulfillment of usual suspensive conditions, in particular obtaining authorization from the competition council.
| MOROCCO | AFRIC INDUSTRIES | Revenue almost stable in 2024
In Q4 2024, Afric Industries’ revenue reached MAD 10.2 Mn down 2.2% year-on-year. In FY 2024, the company’s revenue remained almost stable at MAD 43.1 Mn.
ECONOMIC HEADLINES
| CEMAC | GDP | BEAC forecasts a growth rate of 2.7% in 2024
According to the latest BEAC forecasts, the growth rate of CEMAC region economy should reach 2.7% in 2024 compared to 2.0% in 2023. This would be driven by the good performance of non-oil activities with a growth estimated at 3.2% in 2024 against 2.9% a year earlier.
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