FINANCIAL MARKET HEADLINES
| MOROCCO | CMT | Press release
Following the press release published on October 26th 2023, CMT announces that in accordance with the provision of the Public Liabilities Collection Code, the Customs Administration has carried out a precautionary seizure on CMT's goodwill to guarantee the payment of a sum equivalent to six times the fine claimed amounting to MAD 376,157,000.
CMT would like to point out that the offenses noted during the inspection carried out by Office des Changes concern operations carried out between 2012 and 2022 relating to investment operations abroad, the majority of which are operations carried out before the change of management occurred in February 2020.
ECONOMIC HEADLINES
| MOROCCO | LENDING RATES | The weighted average rate up 10 BPS in Q3 2023
According to the results of Bank Al-Maghrib’s survey on lending rates in Q3 2023, the overall weighted average rate settled at 5.36% up 10 BPS compared to the previous quarter. In this context, the lending rates rose by 3 BPS to 5.32% for treasury loans, by 23 BPS to 5.21% for mortgage loans and by 39 BPS to 5.12% for equipment loans. Meanwhile, lending rates applied to consumer loans declined by 2 BPS to 7.25%.
| SENEGAL | INFLATION | An inflation rate of 2.4% in October 2023
According to the National Agency for Statistics and Demography (ANSD), Senegal's Harmonized Consumer Prices Index (IHPC) remains stable in October 2023 compared to the previous month. Year-on-year, the inflation rate reached 2.4%.
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