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The Moroccan Economy in Brief: Thursday, June 30, 2022

2.3 million new bank accounts opened in Morocco in 2021:

A total of 2.3 million new accounts were opened during 2021, after 2.1 million in 2020, according to Bank Al-Maghrib (BAM). Thus, 31.2 million open accounts have been identified at the level of the Central Bank Accounts at the end of December 2021, an increase by 5% compared to 2020, specifies BAM which has just released its statistics on bank accounts for the year 2021.

MARCHÉ EXPRESS consolidates its leadership in the fresh produce segment:

Marché Express is getting the means to accelerate its growth. The leading Moroccan ecommerce marketplace for the sale of fruit and vegetables, which caters to both individuals and professionals, now has tens of thousands of active customers on its platform in the Greater Casablanca area. In less than 24 hours, customers are provided with high quality fresh products, while respecting health standards. With a user satisfaction rate of over 92%, Marché Express focuses on customer service to fulfill its promise of "Stress-free shopping.

UM5 Rabat is the only Moroccan university to be included in the CWTS Leiden 2022 ranking:

On June 22, the 2022 edition of the CWTS Leiden Ranking was released, making Mohammed V University (UM5) of Rabat the only Moroccan university to appear again in this ranking among the 1,030 universities from 69 countries, including 33 African universities and 29 Arab universities. In a statement, UM5 Rabat said that the CWTS Leiden Ranking, provides since 2007 a ranking of the best universities in the world based on four types of indicators related to research, and which relate to the scientific impact of publications, international collaboration, open access publications and gender approach in authorship of publications.

AMMC and IFC seal agreement on sustainable finance:

The Moroccan Capital Market Authority (AMMC) and IFC have signed a new cooperation agreement for the development of sustainable finance in the Moroccan market. This agreement provides for an expansion of the reference framework for sustainable finance as well as measures to promote the integration of ESG factors in financial activities, including investment. This agreement is also a continuation of the partnership launched in 2016 between the two institutions to promote sustainable finance. Indeed, IFC has supported AMMC's initiatives in developing guides for the issuance of sustainable financial instruments such as green bonds, social bonds, and sustainability bonds .

Disty Technologies presents its IPO at more than 171 MDH :

On Wednesday, Disty Technologies, a distributor of IT products and solutions, presented the details and the stakes of its planned IPO on the Casablanca Stock Exchange, for a total amount of nearly 171.68 million dirhams (MDH). This operation, the prospectus of which was approved, on Monday, by the Moroccan Authority of the Capital Market (AMMC), will be conducted through a capital rise by issuing 218,310 shares at a subscription price per share of 284 dirhams, that is to provide 100 dirhams as nominal and 184 dirhams as issue premium, and the transfer of 386,191 shares, the company specified during a press conference at the Casablanca Stock Exchange.