Morning Brief may 05th, 2023

FINANCIAL MARKET HEADLINES
| MOROCCO | MUTANDIS | Consolidated revenue up 23% in Q1 2023
In Q1 2023, Mutandis' consolidated revenue stood at MAD 518 Mn, recording an increase of 23% compared to the same period of last year. Note that Q1 2023 turnover doesn't include that of mineral water activity, in the process of being acquired.

ECONOMIC HEADLINES
| MOROCCO | SURVEY | Production capacity utilization stable at 73% in March 2023
The results of Bank Al-Maghrib's monthly business survey show a rise in production and sales during the month of March 2023, compared to the previous month. In this context, the production capacity utilization rate remained stable at 73% compared to the previous month. Likewise, orders would have increased during the same period with, however, order books level lower than their normative level.

| CHAD | INFLATION | An inflation rate of 9.6% in March 2023
According to the National Institute of Statistics, Economic and Demographic Studies (INSEED) of Chad, the National Consumer Prices Index increased by 2.6% in March 2023 compared to the previous month. On an annual basis, the inflation rate reached 9.6% during the same period.

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