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The Moroccan economy in brief :Tuesday, May 03, 2022

Moroccan OPCIs collected more than 22.58 billion dirhams at the end of March:

The net assets of the Real Estate Collective Investment Schemes (OPCI) reached more than 22.58 billion dirhams (MMDH) at the end of last March, an increase by 4.59% compared to the end of 2021 (Year-to-date), according to the Moroccan Capital Market Authority (AMMC). The number of OPCI funds was established, on this date, at 28, including one (1) approved in February and with an initial capital at the constitution of 320 million dirhams, specifies the AMMC which has just made public the monthly indicators of the capital market for the month of March 2022. As for collective investment schemes in capital (OPCC), their net assets have decreased, in year-to-date, by 0.27% to more than 1.39 billion dirhams at the end of January 2022, the same source said.

Morocco obtains 14.3 M$ from OPEC Fund for the financing of the Nigeria-Morocco gas pipeline :

 

Nadia FETTAH, Minister of Economy and Finance proceeded, by exchange of correspondence, with Abdulhamid Al khalifa, Director General of OPEC FUND and Amina BENKHADRA, Director General of ONHYM, to the signature of the legal documentation for the financing, worth 14, 3 million, granted by OPEC FUND to ONHYM as its contribution to the financing of the second phase of the Front-End Engineering Design (FEED) of the Gas Pipeline linking the Federal Republic of Nigeria and the Kingdom of Morocco (NMGP Project). The study, co-financed with the Islamic Development Bank (IDB), involves the elaboration of the documentation for the implementation of the Nigeria-Morocco Gas Pipeline Project and the finalization of the related technical, financial, and legal analyses.

The Moroccan advertising market recovers during Ramadan:

If Ramadan is traditionally a profitable market for advertisers and professionals in the world of advertising, in view of the audiences it produces on the various media, the dynamics set in motion this year, post-crisis, reflects a return in force of investors confident and full of optimism but also vigilant. Often, the more or less notorious peaks of advertising investments made during the month of Ramadan in Morocco are correlated to changes in consumption habits. Indeed, the upward trend recorded during the holy month in terms of advertising investments is confirmed again this year, where the market has achieved a double digit increase.

The ZAE of Al Hoceima attracts 7 new investment projects :

The zone of economic activity (ZAE) of Ait Kamra, in the province of Al Hoceima, has been reinforced with the installation of seven new projects, with an overall investment of about 65 million dirhams (MDH). Four of these projects, which are the subject of seven agreements signed on April 21, at the Regional Investment Center of Tangier-Tetouan-Al Hoceima (CRI-TTA), are part of the agribusiness sector, and two are in the construction materials and public works, while one project is in the service sector.

Assets under management of Moroccan mutual funds reached 596.7 billion dirhams at the end of March:

The assets under management of Undertakings for Collective Investment in Transferable Securities (UCITS) amounted to 596.7 billion dirhams (MMDH) at the end of March 2022, an increase by 0.64% compared to the end of 2021. Compared to the end of February 2022, the assets under management of mutual funds decreased by 0.58%, indicates the Association of Moroccan Management Companies and Investment Funds (ASFIM) in its monthly newsletter of March 2022. This reduction is due to the net outflow of more than 600 million dirhams (MDH) which concerned mainly the OMLT funds (medium and long term bonds), notes the Association.