Morning Brief september 15th 2023

 

FINANCIAL MARKET HEADLINES
| MOROCCO | CIH BANK | NIGS up 38% in H1 2023

| MOROCCO | WAFA ASSURANCE | NIGS down 1% in H1 2023

| MOROCCO | AFRIC INDUSTRIES | Net income down 62% in H1 2023

| MOROCCO | TOTALENERGIES MARKETING MAROC | Profit warning
In a press release, TotalEnergies Marketing Maroc announces that its parent company net income is expected to fall by nearly 60% in H1 2023. This is attributed to the decline in international prices of oil products which generated a negative inventory effect.
In comparison, the H1 2022 result benefited from positive inventory effects following the upward trend in prices during this period.

ECONOMIC HEADLINES
| BURKINA FASO | INFLATION | An inflation rate of -2% in August 2023
According to the National Institute of Statistics and Demography (INSD), the Harmonized Consumer Prices Index of Burkina Faso decreased by 0.5% in August 2023 compared to the previous month. Year-on-year, the inflation rate stood at -2.0%.

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