Morning Brief September 23rd 2024

FINANCIAL MARKETS HEADLINES

| MOROCCO | BCP | NIGS up 10% in H1 2024

| MOROCCO | EQDOM | Net income up 5% in H1 2024

| MOROCCO | AUTO NEJMA | Net income down 6% in H1 2024

| MOROCCO | OULMÈS | NIGS up 15% in H1 2024

| MOROCCO | LABEL VIE | The Group sold 40% of its stake in Terramis capital
During the 2nd quarter of 2024, Label Vie sold 40% of its stake in Terramis SPI-RFA to several institutional investors, including Al Ajial Holding, Farah Al Maghreb, the Moroccan Pension Fund (CMR), the Deposit and Management Fund (CDG) and Sanlam Maroc, for a total amount of MAD 473 Mn.
As of June 30th 2024, the REIT Terramis SPI-RFA managed total assets of MAD 1.8 Bn and net assets of MAD 1.2 Bn. The fund holds 17% of Label Vie's commercial surface area, representing 40% of the capital. In 2024, Terramis SPI-RFA payed out MAD 75 Mn as dividends to its shareholders for the FY 2023.

| MOROCCO | DISWAY | Project to acquire 51% of Econosol’s capital
The Competition Council received a notification of an economic concentration operation regarding the acquisition by the company "Disway SA" of exclusive control of the company "Econosol SARL" through the acquisition of 51% of the par capital and the voting rights.
Note that Econosol is a company specializing in the development of photovoltaic solar projects.

ECONOMIC HEADLINES

| NIGER | INFLATION | An inflation rate of 10.2% in August 2024
According to the National Institute of Statistics (INS), the National Harmonized Consumer Prices Index of Niger shows a decrease of 2.1% in August 2024 compared to the previous month. On a annual basis, the inflation rate stands at 10.2%.

 

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