The payment of a fine by Maroc Telecom to Inwi in July 2024 has not affected its financial solidity. The results for the first half of the year show stable growth and strong performance in Africa thanks to its Moov Africa subsidiaries

In July 2024, Maroc Telecom paid 6.3 billion dirhams to Inwi as a result of a dispute over anti-competitive practices. However, this significant fine has not affected the operator's financial solidity. The results for the first half of 2024 demonstrated Maroc Telecom's resilience, reassuring investors and analysts about the company's ability to absorb such a burden without compromising its overall performance

Solid Results

As of June 30, 2024, Maroc Telecom reported a 5.1% increase in its customer base, reaching 78.4 million subscribers. This growth was largely driven by its African subsidiaries, Moov Africa, which saw their portfolio expand by 8.9%. Consolidated revenues for this period amounted to 18.26 billion dirhams, reflecting a 0.9% increase at constant exchange rates. This growth is supported by two key segments: Mobile Data (+18.2%) and Fiber Optics in Morocco (+34.1%), offsetting the decline in ADSL and traditional mobile revenues

Ongoing Expansion in Africa

Maroc Telecom benefits from an extensive presence in Sub-Saharan Africa, where the demand for telecommunications services is growing strongly. The performance of its African subsidiaries serves as a major growth driver and reinforces its position as a regional leader. Specifically, the Moov Africa subsidiaries recorded a 3.7% growth, generating 9.326 billion dirhams in revenue. Mobile Data (+18.2%) and Fixed Internet (+21.6%) have been key drivers of this progress

Today, this geographical diversification, combined with ongoing investments in infrastructure and digital innovation, allows the operator to tackle local market challenges while providing new opportunities on an international scale

Article source: lobservateur