Morning Brief may 11th, 2023

FINANCIAL MARKET HEADLINES
| MOROCCO | LESIEUR CRISTAL | Revenue up 11% in Q1 2023
In Q1 2023, Lesieur Cristal's revenue amounted to MAD 1,827 Mn against MAD 1,644 Mn a year earlier, i.e. an increase of 11%.
Meanwhile, the operator announces that the declining prices in Q1 2023 within a context of continued inflation on oilseed raw ma-terials and which should continue in the 2nd quarter of 2023, will have an unfavorable impact on margin levels and on the evolution of Lesieur Cristal's indicators in H1 2023.

| MOROCCO | DISWAY | Consolidated revenue down 2% in Q1 2023
In Q1 2023, Disway's consolidated revenue stood at MAD 481 Mn, decreasing by 2.3% compared to the same period of the previous year.

ECONOMIC HEADLINES
| SENEGAL | INFLATION | An inflation rate of 9% in April 2023
According to the National Agency for Statistics and Demography (ANSD), Senegal's Harmonized Consumer Prices Index rose by 0.5% in April 2023 compared to the previous month. Year-on-year, the inflation rate stands at 9.0%.

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