FINANCIAL MARKET HEADLINES
| MOROCCO | CRÉDIT DU MAROC | Press release
In a press release, Holmarcom group, via Holmarcom Finance Company, announces that it has acquired the second tranche of the stake held by Crédit Agricole S.A. in Crédit du Maroc, concerning 15% of the capital and voting rights. of Crédit du Maroc. The acquisition was completed on June 7th 2024 following the lifting of all the required regulatory conditions precedents.
In anticipation of the definitive disengagement of the French banking group, Crédit du Maroc, which is now 78.7% owned by the Holmarcom group (65.9% by Holmarcom Finance Company and 12.8% by AtlantaSanad), has finalized its autonomy in accordance with the commitments made.
ECONOMIC HEADLINES
| MOROCCO | REAL ESTATE | Real Estate Assets Prices Index up 0.8% in Q1 2024
According to Bank Al-Maghrib, the Real Estate Assets Prices Index increased by 0.8% in Q1 2024 compared to the same quarter of the previous year. This results from the increase of +0.7% in residential prices and +1.2% in land prices while prices of assets for professional use remained stable. Quarter-on-quarter, the index shows an increase of 0.4%.
Regarding the number of transactions, these fell by 3.1% in Q1 2024 compared to the same period of the previous year and by 13.8% compared to the previous quarter.
| SENEGAL | FOREIGN TRADE | Widening of the trade deficit at the end of April 2024
According to the National Agency for Statistics and Demography (ANSD), Senegal's exports showed a decrease of 5.3% at the end of April 2024 to FCFA 1,144 Bn. Meanwhile, imports increased by 3.3% to stand at FCFA 2,265 Bn. In this context, the trade bal-ance shows a deficit of FCFA -1,121 Bn at the end of April 2024 compared to FCFA -984 Bn a year earlier.
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