Morning Brief january 25th, 2023

FINANCIAL MARKET HEADLINES
| MOROCCO | CSE | Modernization of its indices
In a press release, the Casablanca Stock Exchange announces the modernization of its indices to support and accelerate the de-velopment of the stock market. These are mainly:
- Consolidation of all the indices under the MASI signature, as a unique reference for the Moroccan market;
- Broadening of the range by adopting a new index for small and mid caps to encourage the SME segment (MASI Mid and Small Cap);
- And expansion of the Casablanca ESG composition from 10 to 15 stocks to support the development of listed companies¡¦ CSR.

ECONOMIC HEADLINES
| CEMAC | INFLATION | BEAC forecasts an average inflation of 5.5% in 2022
According to the latest forecasts from the Bank of Central African States (BEAC), inflation in the CEMAC zone should settle at 5.5% on an annual average in 2022 against 1.7% a year earlier. Recall that the community convergence threshold in the CEMAC region is set at 3%.

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