Maroc Telecom, a prominent telecommunications provider, operates in ten African markets beyond its home country of Morocco.
These markets include Mauritania, Burkina Faso, Gabon, Ivory Coast, Mali, Benin, Togo, Niger, Central African Republic, and Chad.
Substantial Investment in Network Infrastructure
During the first half of 2024, Maroc Telecom made significant investments in its operations, totaling 3.2 billion dirhams ($326.1 million USD).
This represents a notable 9.8% increase compared to the 2.9 billion dirhams invested in the same period of 2023.
Allocation of Investment Funds
Of the total investment, 22 million dirhams were allocated to the acquisition of licenses and frequencies. Maroc Telecom invested 1.5 billion dirhams in Morocco and 1.67 billion dirhams across its Moov Africa subsidiaries.
Subscriber Growth and Financial Performance
These investments contributed to an expansion of the company’s subscriber base, reaching 78.4 million customers, marking a 5.1% year-on-year increase.
While financial indicators remained relatively stable, consolidated revenue slightly decreased from 18.3 billion dirhams to 18.2 billion dirhams.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) experienced a 1.9% decline, settling at 5.9 billion dirhams. However, the adjusted net income of the group saw a marginal increase of 0.3%, reaching 2.94 billion dirhams.
Outlook for 2024
Looking ahead to 2024, Maroc Telecom anticipates stable revenue and EBITDA, with capital expenditures (excluding frequencies and licenses) amounting to approximately 20% of revenue.
The company also expects its net income and year-end debt to be significantly affected by the provision for the Wana Corporate (Inwi) litigation.