Morning Brief march 17th, 2023

FINANCIAL MARKET HEADLINES
| MOROCCO | AFRIC INDUSTRIES | Net income up 17% in 2022, DPS lowered to MAD 20

| MOROCCO | CIH BANK | NIGS up 11% in 2022, DPS stable at MAD 14

| MOROCCO | DISTY TECHNOLOGIES | Profit warning
In a press release, Disty Technologies announces a decline in its net income from MAD 18 Mn in 2021 to MAD 4 Mn in 2022. This results from a forex loss of MAD 14 Mn due to the sharp rise in the USD/ MAD parity. Meanwhile, this should not have any impact on the company's dividend payout policy.

ECONOMIC HEADLINES
| CAMEROON | GDP | A growth rate of 3.6% in Q3 2022
According to the National Institute of Statistics, the growth rate of Cameroon’s economy reached 3.6% in Q3 2022. This results from the increase in the primary (+4.0%), secondary (+0.8%) and tertiary (+4.9%) sectors.

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