Morning Brief september 13th 2023

FINANCIAL MARKET HEADLINES
| MOROCCO | TAQA MOROCCO | A fundraising of MAD 6.6 Bn
In a press release, TAQA Morocco announces the achievement, through the subsidiary JLEC 5&6, of a fundraising worth MAD 6.6 Bn from Moroccan banks, with a maturity of 19 years in 2042.
This operation led to the early repayment of the amount remaining related to the initial project financing contracted by the sub-sidiary JLEC 5&6, with a consortium of international and Moroccan banks, for an amount of MAD 3.3 Bn. Note that this transaction will also support TAQA Morocco Group’s low-carbon growth strategy.

ECONOMIC HEADLINES
| TOGO | INFLATION | An inflation rate of 3.8% in August 2023
According to the National Institute of Statistics and Economic and Demographic Studies (INSEED) of Togo, the National Harmo-nized Consumer Prices Index shows a drop of 2.1% in August 2023, compared to the month previous. Year-on-year, the inflation rate stands at 3.8%.

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