The Moroccan Economy in Brief: Monday, January 10, 2022
Morocco closes 2021 with more than 331 MMDH in foreign exchange reserves:
The dirham appreciated by 0.14% against the U.S. dollar and depreciated by 0.12% against the euro between December 30, 2021 and January 5, 2022, according to Bank Al-Maghrib (BAM). During this period, no bids were registered in the currency auctions conducted by BAM, the central bank indicated in its recent weekly bulletin. As of December 31, 2021, official reserve assets amounted to 331.2 billion dirhams (MMDH), an increase by 0.3% on a weekly basis and by 3.3% annually.
DLM signs the best performance of the week on the Casablanca Stock Exchange:
On January 3 to 7, 2022, the Casablanca Stock Exchange closed higher, with its main index, Masi, gaining 0.89% to 13,477.25 points. The Morocco Stock Index 20 (MSI20), made up of the 20 most liquid companies, advanced, for its part, by 1.16% to 1,098.32 points. For its part, the benchmark index Environment, Social and Governance (ESG) "Casablanca ESG 10" increased by 0.87% to 1,006.72 points. On the sectoral level, 14 indices have recorded positive changes over this period, against 9 sectors, which have declined.
Kenitra gets 138 new generation buses for 138 MDH :
The new generation of 138 buses, manufactured in Morocco, have entered into service in Kenitra, which puts an end to a crisis of urban transport that lasted about two years. Mobilizing an investment of more than 300 million dirhams, this fleet was delivered on Friday during a ceremony chaired by the governor of the province of Kenitra, Fouad M'Hamdi, in the presence of other territorial officials. These new automatic vehicles, which are available to people with special needs, have several internal facilities such as electronic ticket machines, a geolocation system, surveillance cameras, and an Internet service for the benefit of users.
Historic record of Moroccan exports to Brazil:
Moroccan exports to Brazil keep breaking records since 2016. They achieved a historic value in 2021 at nearly $2 billion, which reflects the rapprochement with Rabat and which is welcomed at the highest level of the political hierarchy of the first power in Latin America. Data from the Brazilian Ministry of Economy consulted by MAP, the Kingdom has exported products for a total of more than $1.9 billion to the first economy of Latin America, a record of the historic series started in 1997, when Moroccan exports did not surpass $50 million .
Aradei Capital officially joins AKDITAL Immo's financing round:
Akdital, the leader in private healthcare in Morocco, Aradei Capital, the listed real estate company and Bfo Partners have successfully achieved the closing of the strategic partnership within the joint venture (JV) AKDITAL Immo. As a result of the declaration of the strategic partnership in September 2021, the Moroccan real estate company Aradei Capital has officially joined the round table of AKDITAL IMMO, indicates a joint press release of the three companies. With this acquisition, carried out through a capital increase, Aradei Capital is now the majority shareholder at 51% of the joint venture Akdital Immo alongside the founding shareholders Akdital (32%) and Bfo Partners (17%), specifies the same source. "Akdital, Aradei Capital and Bfo Partners join forces and commit themselves to building health facilities to international standards with the objective of meeting the expectations of Moroccan citizens in terms of health," emphasized the statement.