FINANCIAL MARKET HEADLINES
MOROCCO | LAFARGEHOLCIM MAROC | NIGS up 9% in H1 2023
| MOROCCO | SANLAM MAROC | Filing of a Mandatory Takeover Bid
In a press release, AMMC announces that the companies Sanlam Emerging Markets Proprietary Limited, Allianz Europe B.V,Sanlam Allianz Africa Proprietary Limited and Sanlam Pan Africa Maroc S.A, acting in concert, have filed a mandatory takeover bid on Sanlam Maroc shares.
This was filed following the creation of a Joint Venture called Sanlam Allianz Africa Proprietary Limited held by Sanlam Emerging Markets Proprietary Limited and Allianz Europe B.V, which crossed indirectly the 40% threshold of the voting rights of Sanlam.
ECONOMIC HEADLINES
| MOROCCO | AGRICULTURE | Cereal production up 62% y-o-y during the 2022-2023 crop
According to the Ministry of Agriculture, the production of the three main cereals stood at 55.1 million quintals for the 2022-2023 crop year. This shows an increase of 61.8% compared to the previous crop.
| MOROCCO | GDP | BCEAO forecasts a growth rate of 5.6% in 2023
According to the Central Bank of West African States (BCEAO), the growth rate of economic activity within the WAEMU region should reach 5.6% in 2023.
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