Blog

The Moroccan Economy in Brief: Monday, March 25, 2019

Label'Vie consolidates its performance in 2018:
The Moroccan supermarket chain had a great year in 2018. All its financial aggregates are up compared to 2017. It is also a record year in terms of opening points of sale, a strategy that the group intends to pursue in 2019 for an investment amount of 600 million dirhams. For the 2018 financial year, the Label'Vie group's revenues amounted to more than 9 billion dirhams, an increase of 9% compared to 2017.


Partnership agreement between the Timar Group and the Log'S Group:
The Timar group announced on Friday that it has concluded a partnership agreement with the log'S group, one of the French leaders in logistics, allowing the latter to acquire a 65% stake in the capital of Timar Tanger Méditerranée, a subsidiary of the Timar group operating in the Tangier free zone. This acquisition will be carried out during the first half of 2019 by a 59.25% capital increase and a 5.75% share buyback, the Timar Group indicated in a press release.


Morocco, a major mobile phone market:
In the margins of the 5th edition of the Jumia Mobile Week, the Mobile report returns in its third edition. The objective is to deliver trends in the smartphone market in Morocco in 2019. To carry out this study, Jumia Maroc relied on figures and statistics provided by sales made since its marketplace in 2018 as well as national and international sources.


Banque centrale populaire: A good performance in Morocco and abroad:
Mohamed Karim Mounir, Chairman and Chief Executive Officer of the Banque Centrale Populaire Group (BCP), gathered the press on Thursday, March 21 for the traditional presentation of the group's results for 2018. Mr. Mounir, who took over the reins of the 6th African banking group on November 1, was able to approach the year with confidence, since the group has very satisfactory results in all its indicators.


The UfM and FAO launch a project in Morocco and Lebanon:
The Secretariat of the Union for the Mediterranean (UfM) and the Food and Agriculture Organization of the United Nations (FAO) are launching the project entitled "Strengthening Forest and Landscape Restoration to Restore Biodiversity and Promote Common Approaches to Mitigation and Adaptation in the Mediterranean" in Morocco and Lebanon. A UfM press release states that this project was approved by the 43 member countries in December 2018. The starter shot will be given on April 1 during the sixth Mediterranean Forest Week to be held in Lebanon.