The Moroccan Economy in Brief: Monday, April 13, 2020
The real estate market strongly affected by the Covid-19 pandemic:
Like other important sectors of the economy, the real estate market was not spared by the unprecedented health crisis caused by the coronavirus (Covid-19) pandemic. "We are seeing a substantial decline in both supply and demand, demonstrating the sharp slowdown in the Moroccan real estate market due to the health crisis," said Kevin Gormand, co-founder and CEO of Mubawab.
Stock market: Nearly MAD 14 billion traded in the first quarter:
Since the beginning of the health crisis, the national stock market, like the other world financial centers, has not ceased to suffer important losses. Although this pandemic only hit Morocco towards the end of the first quarter, its impact is visible on quarterly market indicators. "The activity of March has strongly weighed on the trends recorded with, in particular, a sharp decline in the Casablanca Stock Exchange indexes, combined with a substantial increase in trading volumes on the central market," says the Moroccan Capital Markets Authority (AMMC) in its quarterly report on the profile of stock market investors.
Cooper Pharma contributes MAD 20 million to the Special Anti-Covid-19 Fund:
"The Cooper Pharma laboratory, Moroccan leader in the pharmaceutical industry, has donated MAD 20 million to the Special Fund for the management of the pandemic of the new coronavirus (covid-19) created on the High Instructions of H.M. King Mohammed VI. "Cooper Pharma is part of the general mobilization and contributes to the national effort to fight against the covid-19 pandemic," the laboratory said in a statement, adding that donations of drugs and protective equipment have also been made to health authorities to support them in their efforts to manage this crisis.
The Moroccan subsidiaries of French groups are contributing MAD 500 million to the Special Fund for the management of the pandemic:
"The Moroccan subsidiaries of French groups and companies with French capital established in Morocco announced a contribution of MAD 500 million to the Special Fund dedicated to the management of the coronavirus pandemic, set up on the instructions of HM King Mohammed VI.
AMMC: The market professionals empowerment portal launched:
Between December 2019 and February 2020, 100 new professionals will be empowered by the Moroccan Capital Market Authority for the functions of post-trade manager, financial advisor and internal controller between December 2019 and February 2020, a success rate of 82%. This is confirmed by the AMMC, which also announced the launch of its portal for the empowerment of market professionals. It should be noted that the empowerment system was launched in April 2019. The first session concerned the position of financial instrument trader.