FINANCIAL MARKET HEADLINES
| MOROCCO | DLM | Hakam Abdellatif Finances crossed downward the participation threshold of 10%

According to the AMMC, the company Hakam Abdellatif Finances crossed downward the participation threshold of 10% in Delattre Levivier Maroc (DLM).
Thus, the Company holds 85,261 DLM shares, representing a stake of 6.82%. Within the next twelve months, Hakam Abdellatif Finances intends to continue its sales on DLM stock.

ECONOMIC HEADLINES
| MOROCCO | SURVEY | Stagnation of activity in December 2021

The results of Bank Al-Maghrib's monthly business survey for the month of December 2021 show stagnation in activity compared to the previous month. In this context, the production capacity utilization rate stood at 73% during the same period. Meanwhile, sales and orders would have increased with order books lower than their normative level.

ECONOMIC HEADLINES
| MOROCCO | SURVEY | Stagnation of activity in December 2021

The results of Bank Al-Maghrib's monthly business survey for the month of December 2021 show stagnation in activity compared to the previous month. In this context, the production capacity utilization rate stood at 73% during the same period. Meanwhile, sales and orders would have increased with order books lower than their normative level.

| WAEMU | BUSINESS CLIMATE | An increase of 4.9 points y-o-y in December 2021
According to the Central Bank of West African States (BCEAO), the WAEMU Business Climate Index stood at 103.2 points in De-cember 2021, down 1.3 points compared to the previous month. Year-on-year, the index shows an increase of 4.9 points.


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