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  • The Moroccan Economy in Brief: Tuesday, May 9, 2017: The Increase in the Capital of Managern Endorsed by the AGE

The Moroccan Economy in Brief: Tuesday, May 9, 2017: The Increase in the Capital of Managern Endorsed by the AGE

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1. Africa Development Club Mali is born: "In the wake of the momentum of the International Africa Development Forum, organized by the African Development Club of the Attijariwafa bank group, under the aegis of its reference shareholder, the SNI, and to which the economic community of Mali has been involved since its inception in 2010, the BIM s.a. and the African Development Club proceed the launching of African Development Club - Mali at the Radisson Blu Hotel, Bamako, scheduled for May 11, 2017, at 3 p.m. The Club's offer revolves around economic advocacy on behalf of the African private sector, the setting up of a business-to-business relationship, and the networking of banks of investment projects of the Member States and the big investors."


2. Automotive: Commercial euphoria continues: "The sales of new cars, as published by the Association of Importers of New Vehicles in Morocco (AIVAM), have shown a 15.16% increase at the end of April. In details, the segment of passenger cars (VP), which represents 92.34% of market share, shows good looks, totaling a volume of 50,961 units, an increase of 14.45%. The light commercial vehicle category (LCV) is even more euphoric with 4.226 registrations and an increase of 24.55%."


3. Acquisition of Barclay's Egypt: AWB sets out its action plan: "The Attijariwafa bank group has finalized, on Wednesday, the acquisition of 100% of the capital of Barclays Bank Egypt in accordance with the agreement signed on October 4, 2016. After obtaining all the necessary regulatory approvals, the second largest capitalization of the Casablanca Stock Exchange announces, through a press release, the effective completion of the acquisition of 100% of the capital of Barclays Bank Egypt, which will become Attijari bank Egypt. In this regard, the group states that the changing of name is subject to the approval of the Extraordinary General Meeting of Barclays Bank Egypt and the Egyptian Central Bank."


4. Africa It Expo under the sign of innovation: "Confirmed by the success of the first edition and in accordance with its objectives, the Apebi, Moroccan Federation of Information Technologies, Telecommunications and Offshoring, contributes significantly to the development of its sector by organizing a high-level event on a continental scale, Africa It Expo. This international Fair will be held under the theme "Digital Innovation for Organizations" and this in order to challenge all the actors on the stakes of the digital revolution."


5. The increase in the capital of Managern endorsed by the AGE: "The extraordinary general meeting (AGE) of the shareholders of Managem has unanimously approved the proposed capital increase of one billion Dirhams, including issue premium, the mining group announced on Monday, May 8, 2017. "This capital increase will be made by issuing new shares of cash to be paid up by compensation with certain liquid and receivable claims on the company and/or by cash payment," stresses Managem."

 

 

Crédit : IMPERIUM MEDIA

 

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