Morning Brief - june 22nd, 2021

FINANCIAL MARKET HEADLINES
| MOROCCO | SOTHEMA | Revenue is expected to reach MAD 3 Bn in 2023
According to the daily newspaper L’Economiste, the Management of Sothema forecasts a revenue worth MAD 3 Bn in 2023. This would be driven by the operator's organic growth combined with new launches as well as external growth. Recall that in 2020, Sothema achieved a revenue of MAD 1.8 Bn.

ECONOMIC HEADLINES
| TUNISIA | INDUSTRY | Investments down 26% at the end of May 2021
Over the first five months of 2021, investments in the industrial sector fell by 25.6% to reach TND 987.7 Mn. The agri-business industries as well as the mechanical and electrical industries attracted respective shares of 37.6% and 30.5%.

| BENIN | INFLATION | Prices up 1.7% y-o-y in May 2021
According to the National Institute of Statistics and Economic Analysis, the Harmonized Consumer Prices Index of Benin in-creased by 1.9% in May 2021 compared to the previous month. Year-on-year, the inflation rate stands at +1.7% below the commu-nity convergence threshold of 3.0% set by WAEMU.

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