The Moroccan Economy in Brief: Wednesday, April 21, 2021

CDG Capital named ''Best Asset Manager in the MENA zone'':
New consecration for the investment bank CDG Capital and its subsidiary specialized in asset management - CDG Capital Gestion. Indeed, during the last edition of the "Lipper Mena Markets 2021 Fund awards" in Dubai, the 2 entities were awarded 12 trophies (for CDG Capital - all categories included - and for CDG Capital Gestion via the bond and diversified management which was awarded through the 3 funds "CDG Rendement", "CDG Multigestion" and "CDG Izdihar" elected as the best funds, in their respective categories, over a period of 10 years).

The Moroccan industrial sector created 80,000 jobs in Q4-2020:
The speed of economic recovery in Morocco is dependent on the successful completion of the vaccination operation against the new coronavirus (Covid-19), said Monday, the head of the mission of the International Monetary Fund (IMF), responsible for Morocco, Roberto Cardarelli. "Morocco has shown agility in the acquisition and distribution of vaccines to its population, thus setting an example at the global level in terms of vaccination," he said during a webinar under the theme World Economic Forecasts: what prospects for Morocco and the MENA region?

CNRA: Details of the net result for 2020:
The National Pension and Insurance Fund (CNRA) achieved a net result of MAD 101.06 million for the fiscal year 2020, according to CDG Prévoyance, which is in charge of this Fund and the Collective Retirement Allowance Scheme (RCAR). "The net annual performance of the CNRA portfolios has been positively impacted by the appreciation of the market value of its bond portfolio valued at MAD 23 billion as of December 31, 2020," says CDG Prévoyance in a press release on the annual results and performance of the CNRA and RCAR, presented during the Management Committee meetings held on April 12 and chaired by Abdellatif Zaghnoun, CEO of CDG.

Tangier: Dachser Maroc opens new logistics platform:
Dachser Maroc is expanding in the Tangier Med logistics zone. The logistics specialist has opened a new storage facility to "meet growing customer demand, remain ideally placed and maintain a high level of quality." This warehouse covers an area of 5,500 m2 and offers a storage capacity of over 7,000 pallets since March 1, 2021. "The objective of this new location, at the heart of trade between Europe and North Africa, is to offer its industrial customers in all sectors of activity a solution tailored to their needs with excellent connectivity and optimal transit time for goods," says the company. The new facility is a storage and distribution center via the Dachser network. It is thus able to handle just-in-time delivery, inter-zone industrial acceleration and advanced supplier storage.

CFC: MAD 940 million tax contribution:
Companies with Casablanca Finance City (CFC) status have made a tax contribution exceeding MAD 900 million. "On a more quantitative level and since 2016, the tax contribution of CFC members has increased from MAD 340 million to MAD 940 million," says CFC boss Said Ibrahimi in an interview with MAP. During the same period, CFC members have allowed the cumulative creation of 6,690 permanent jobs. According to Ibrahimi, more than 200 companies are now members of CFC. "From Casablanca, they are present in 50 countries in Africa. Our members include many international leaders in the Fortune 500," he explains.