Morning Brief - November 24th, 2022

FINANCIAL MARKET HEADLINES
| MOROCCO | ALUMINIUM DU MAROC | Profit warning
In a profit warning, Aluminum du Maroc announces a positive net income at the end of the FY 2022, but down by nearly 75% com-pared to FY 2021.

| MOROCCO | CSE | Investors’ profile in Q3 2022
According to AMMC, Moroccan legal entities and UCITS monopolized 39% and 37% respectively of the volume on the central mar-ket in Q3 2022. For their part, Moroccan individuals concentrated 12% of the volume. Finally, foreign legal entities represented 10% of transactions flow on the central market during the same period.

ECONOMIC HEADLINES
| MOROCCO | REAL ESTATE | Number of transactions up 45% y-o-y in Q3 2022
According to Bank Al-Maghrib, the property price index (PPI) rose by 1.3% in Q3 2022 compared to the same quarter of the previ-ous year. This results from the increase of +0.8% in residential prices, +2.3% in land prices and +2.5% in the prices of assets for professional use. Regarding number of transactions, these jumped by 44.9% in Q3 2022 compared to the same period of the previ-ous year.
Compared to the previous quarter, the PPI and the number of transactions jumped by respectively 0.6% and 11.1%

| MALI | INFLATION | Consumer prices up 11.3% y-o-y in September 2022
According to the National Institute of Statistics (INSTAT), Mali's Harmonized Consumer Prices Index rose by 0.4% in September 2022 compared to the previous month. Year-on-year, the inflation rate stands at 11.3%.

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