Insights

In this Research Paper, we focused on the evolution of the valuation multiples of the Banks index and the MASI index over the period 2010-2024E.

Akdital's capital increase of MAD 1.0 Bn is a continuation of its development model which is mainly “growth” focused. [...]

During our recent survey, we identified investors' expectations regarding the evolution of the Moroccan Central Bank Key rate during its second monetary policy meeting scheduled for June 25th, 2024.

Managem Group, a leading mining player, is launching a new capital increase operation for a total amount of MAD 3.0 Bn. The main aim is to accelerate the deployment of its 2023-2025E investment program while ensuring the solidity of its balance sheet.

In 2023, Attijariwafa Egypt has reached a notable milestone with a remarkable market share, far exceeding its usual market share.

At the end of the 3rd quarter of 2023, the 67 listed companies having released their quarterly results showed a modest growth in their revenue of +4.8% to MAD 74.4 Bn.

During our survey conducted in September, we identified investors' expectations regarding the evolution of the Moroccan central bank’s key rate during its 3rd monetary policy meeting scheduled on September 26th 2023..

During the 2nd quarter of 2023, listed companies' achievements took place in a context marked by a slowdown in the inflation level in Morocco. The latter fell from a high of 10.1% in February to 5.5% in June 2023.

The orientation of the stock market in recent years confirms, in our opinion, its high sensitivity to bonds. In  2022, the bullish reversal of the yield curve in Morocco was accompanied by an annual underperformance of the MASI index of -20%.