FINANCIAL MARKET HEADLINES
| MOROCCO | BCP | NIGS down 36% at the end of September 2020
| Indicators (MAD Mn) | 9M 2019 | 9M 2020 | Change |
|---|---|---|---|
| NBI | 13 057 | 14 513 | 11,2% |
| Gross Operating Income | 6 516 | 6 435 | -1,3% |
| GOI margin | 49,9% | 44,3% | -5,6 pts |
| Cost of risk | 2 376 | 41 137 | 3,1% |
| NIGS | 2 182 | 1 389 | -36,3% |
| Net margin | 33,5% | 21,6% | -11,9 pts |
| MOROCCO | DISWAY | Consolidated revenue up 9% at the end of September 2020
In Q3 2020, Disway consolidated revenue jumped by 21.1% to MAD 419 Mn. In this context, the Group’s consolidated revenue rec-orded an increase of 8.7% at the end of September 2020 to MAD 1,245 Mn.
ECONOMIC HEADLINES
| MOROCCO | PUBLIC FINANCES | Figures at the end of October 2020
At the end of October 2020, ordinary treasury revenue declined by 8.8% at MAD 180.3 Bn. This variation is the result of the 7.7% drop in tax revenue to MAD 159.9 Bn and 17.0% in non-tax revenue to MAD 17.9 Bn.
Overall expenses reached MAD 230.7 Bn, down 1.4%, following the 4.7% increase in ordinary expenses to MAD 193.6 Bn and the 6.1% drop in CAPEX to MAD 49.8 Bn. In addition, subsidies expenses reached MAD 11.6 Bn, down 5.7%.
| TOGO | INFLATION | A rate of 2.8% in October 2020
According to the National Institute of Statistics, Economic and Demographic Studies of Togo, the National Harmonized Consumer Prices Index fell by 0.3% in October 2020 compared to the previous month. On a year-over-year basis, the country’s inflation rate stands at 2.8% below the community convergence threshold of 3.0% set by WAEMU.
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