FINANCIAL MARKET HEADLINES
| MOROCCO | AUTOMOTIVE | An investment of MAD 912 Mn by Yazaki and Sumitomo
According to the press, two memoranda of understanding with a total investment of MAD 912 Mn were signed on January 12th 2021 during a ceremony chaired by the Minister of Industry. These concern the creation by the Japanese groups Yazaki and Sumi-tomo of four factories in the automotive sector which should generate a total of 8,300 jobs.
| SENEGAL | FOREIGN TRADE | Reduction of the trade deficit at the end of November 2020
According to the National Agency for Statistics and Demography, Senegal's exports stood at FCFA 163.6 Bn in November 2020, up 18.5% from the previous month. Likewise, imports increased by 30.9% to FCFA 378.7 Bn during the same period. In this context, the trade deficit stood at FCFA -215.1 Bn in November 2020 against FCFA -151 Bn in October 2020. In addition, the cumulative balance at the end of November 2020 amounted to FCFA -1,972.3 Bn against FCFA -2,010.0 Bn during the same period in 2019.
| TOGO | INFLATION | Prices up 3.6% y-o-y in December 2020
According to the National Institute of Statistics and Economic and Demographic Studies, the Harmonized National Consumer Prices Index of Togo recorded an increase of 1.2% in December 2020, compared to last month. Year-on-year, the inflation rate settled at 3.6% above the community convergence threshold of 3.0% set by WAEMU.
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