FINANCIAL MARKET HEADLINES
| MOROCCO | SNEP | Revenue up 15% at the end of September 2021
In Q3 2021, SNEP's revenue fell by 5.4% to MAD 249.5 Mn. Meanwhile, the company's revenue shows an increase of 14.8% to MAD 766.5 Mn at the end of September 2021.
| MOROCCO | CIMENTS DU MAROC | Press release
According to a press release, Ciments Français, controlling shareholder of Ciments du Maroc, has initiated an internal restruc-turing operation aimed at simplifying the legal organization chart of the stakes of HeidelbergCement France and the shareholder structure of Ciments du Maroc. In this context, the absorption of the company Cocimar by Ciments Français, both subsidiaries of the HeidelbergCement Group, was completed on November 6th 2021. As a result of this merger, the company Cocimar was ab-sorbed by its parent company Ciments Français and the stake it held in the capital of Ciments du Maroc, i.e. 6,854,617 shares rep-resenting 47.48% of Ciments du Maroc, is transferred to Ciments Français. The latter maintains its direct and indirect stake in Ciments du Maroc at 51%.
This merger constitutes the first phase of the restructuring operation which will not impact the threshold of 51% stake held by the HeidelbergCement Group in the capital of Ciments du Maroc.
| MOROCCO | ARADEI CAPITAL | Guaranteed bond issue by private placement for a maximum amount of MAD 500 Mn
Aradei Capital S.A carried out a guaranteed bond issue by private placement for a maximum amount of MAD 500,000,000, with qualified investors. The objective of this guaranteed bond issue is to enable Aradei Capital S.A (1) to finance its development plan and (2) to diversify its sources of financing while optimizing their costs.
ECONOMIC HEADLINES
| TUNISIA | INFLATION | The inflation rate slightly increases to 6.3% in October 2021
In October 2021, the inflation rate in Tunisia increased to 6.3% after stabilizing at 6.2% during the previous two months. This in-crease is mainly due to the acceleration in the pace of price increases for clothing and footwear (8.6% against 7.8% last month) and education products and services (7.8% against 6.1% in September). Meanwhile, a slight deceleration is observed in the annual rate of increase in food prices (7.0% against 7.2%).
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