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  • The Moroccan Economy in Brief: Friday, May 26, 2017: CGEM Awards Atlanta and Wafa Assurance

The Moroccan Economy in Brief: Friday, May 26, 2017: CGEM Awards Atlanta and Wafa Assurance

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1. HCP: Poverty affects 1.2 million children in Morocco: "Morocco has 1.2 million poor children. This is a new study published by the High Audit of Planning (HCP) on the sidelines of the National Day of the Child celebrated this Thursday, which affirms it. To carry out this study, a "multidimensional" approach was followed, based on the observation in children of several factors; namely education, health, access to water, electricity and sanitation, means of communication, and the conditions of dwelling occupation."


2. CGEM awards Atlanta and Wafa Assurance: "The General Confederation of the Moroccan Enterprises has awarded the CSR Label "Corporate Social Responsibility" to the enterprises ATLANTA and WAFA ASSURANCE, following the meeting of the Award Committee held on May 24, 2017. The first companies in the insurance sector to benefit from this label, Atlanta and Wafa Assurance, have proceeded as part of a voluntary approach to an external evaluation of their managerial strategy in view of the nine axes of the CSR charter of the Confederation, in line with the CSR labeling process."


3. Dell EMC Maroc organizes the Dell EMC Forum 2017: "Dell EMC Maroc, a major player in the IT market, has organized, in Casablanca this May 24, 2017, the Dell EMC Forum 2017, a major event around the new industrial revolution of lifestyle and work modes' transformation, and a more intelligent and connected world. Resolutely committed to the democratization of new information solutions to enterprises, Dell EMC Maroc took advantage of this event to present to its ecosystem of partners the benefits of the modernization of IT technologies, which increase agility and reduce costs and risks thanks to the hybrid cloud and models throughout the value chain, from applications to data through infrastructure that underpins the activity and the security system that protects it."


4. The rate of banking exceeds 70% in Morocco: "Morocco is fast becoming a model of banking inclusion in Africa. In fact, according to statistics that the 13th report of the banking supervision of Bank Al-Maghrib is about to deliver (which is usually published the first weeks of the summer of each year), the rate of banking has crossed, for the first time, the bar of 70% by the end of 2016. This indicator, which measures the number of open accounts in the different banks in relation to the total population of a country, was still barely around 20% in 2000 and 40% in 2007, or on the day before of the setting up by the main Moroccan banks of an aggressive strategy of extending their networks. The other accelerator of this movement was unquestionably the entry in 2010 of Al Barid Bank which reached, in seven years of practice, some six million customers."


5. Axa Assurance Maroc is eyeing Takaful insurance: "The French insurer has a strong enthusiasm for Takaful insurance. Even if the regulator (ACAPS) is currently working hard to put in place the appropriate legal framework for this type of insurance products, Axa Assurance Maroc, like most other insurance companies of the place, gets impatient. According to Philippe Rocard, the CEO of Axa Assurance Maroc, the Takaful will constitute a serious growth relay for the company in the local market."


6. Volvo Maroc distributes a record dividend of 150 million Dirhams: "Certainly, Morocco succeeded well to the Swedish giant Volvo. In fact, against the current decrease in activity at the worldwide level accused by the manufacturer based in Gothenburg in 2016, the Moroccan activities are rather well fixed. The financial health of the direct subsidiary Volvo Maroc has never been more striking. It is even preparing to distribute to its parent company a record dividend of 150 million Dirhams for the previous year, almost three times the level of 2016 profit which reached 57.7 million Dirhams."

 

 

Crédit : IMPERIUM MEDIA

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