The Moroccan Economy in Brief: Friday, January 14, 2022
Moroccan bancassurance in figures:
Bancassurance has drained 29.9% of the turnover (CA) of the insurance sector in 2020, according to the Insurance Control Authority and Social Security (ACAPS). The sector continues to be dominated by life insurance with 95.3% of the turnover generated, specifies the ACAPS in its annual report 2020 presented on Wednesday by the acting chairman of the Authority, Othman Khalil El Alamy, to the Head of Government, Aziz Akhannouch. Furthermore, the same report indicates that the bancassurance market is driven by 11 banks, 3 finance companies and a microcredit association. This activity is concentrated on personal insurance, assistance, and credit insurance.
Morocco in the world's top 50 insurance companies:
According to the Moroccan Insurance Supervisory Authority (ACAPS), premiums written in direct insurance business reached 45.1 billion dirhams (MMDH) in 2020. "Despite a difficult economic situation characterized by a health crisis with significant impacts on economic activity, the insurance activity has realized a slight increase by 1%, with a volume of premiums written in direct business that reached 45.1 billion dirhams, indicating a deceleration compared to the growth recorded in 2019 (+8.6%)," reports the ACAPS in its annual report 2020 presented on Wednesday by the acting chairman of the Authority, Othman Khalil El Alamy.., to the Head of Government, Aziz Akhannouch. The report also highlights that the structure of turnover (CA) remains dominated by the categories "life and capitalization" and "land motor vehicles", which have drained 71.7% of emissions. Including personal and industrial accidents, this rate is 86.4%.
The wholesale market of Casablanca realizes in 2021 its 2nd best performance since its opening:
In 2021, the Casablanca fruit and vegetable wholesale market achieved record entries in terms of tonnage estimated at 1,500,000 tons. In terms of revenue, the market has surpassed last year the mark of 150 million dirhams, the second best performance since its opening in 1986, indicates a statement from Casablanca Prestations, company manager since 2015 of this infrastructure. This performance was achieved despite the pandemic that has significantly impacted the demand of key sectors for the business, including the hotel and restaurant sectors, notes the same source. It is attributed to a great resilience of this communal equipment during the health crisis.
ONDA forecasts 14 million passengers in Moroccan airports in 2022:
The National Office of Airports (ONDA) plans to achieve this year a turnover of 2.8 billion dirhams based on air traffic forecasts. In a press release issued after the meeting of its board of directors, held on Monday under the chairmanship of the Minister of Transport and Logistics, Mohammed Abdeljalil, ONDA specified that these forecasts suggest that air traffic is estimated at 14 million passengers, or 56 pc of the traffic of the year 2019, and the overflight activity to be established at 67 pc of the level of the year 2019. According to the same source, a budget of about 2 billion dirhams will be allocated to investments, including 50 pc for the further development of airport capacity.
A block of 290,000 Attijariwafa Bank shares changes hands on the Casablanca Stock Exchange:
The Global Trading Volume on the Casablanca Stock Exchange amounted to 320.86 million dirhams (MDH) during the session of Wednesday, January 12th, 2022. In detail, the volume of the Central Market (Shares) reached more than 180.197 million dirhams and that of the Block Market (Shares) reached 140.66 million dirhams, on a block of 290,000 Attijariwafa Bank stocks at a price of 485.05 dirhams. Moreover, Douja Prom Addoha has been the most active instrument of the day with a volume of 32.33 MDH, followed by Sonasid with 31.41 MDH and TGCC S.A with 20.23 MDH. As for the market capitalization, it surpassed 700.18 billion dirhams (MMDH).