Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Maroc Telecom Profit Decreases Despite Gaining More Subscribers
Maroc Telecom, Morocco’s biggest telecom company, recently released its financial figures, showing a slight decrease in profit, down by 0.4% to $616 million.
Despite this minor setback, the company’s overall performance remains strong, with revenue increasing by 1.2% to 36.7 billion dirhams. This growth was largely fueled by its operations in Africa, where fixed data services in Morocco experienced a notable 9.2% increase.
The telecom giant is heavily investing in high-speed broadband to expand its reach. Maroc Telecom has also committed to investing a significant portion of its revenue, 20.8%, back into expansion.
This commitment is further reinforced by a new agreement with the Moroccan government, which will see 10 billion dirhams ($2.7 billion) invested in telecom infrastructure over the next three years.
Maroc Telecom’s customer base continues to expand, reaching 79.3 million, a 4.5% increase. Shareholders can anticipate a dividend payout of 1.43 dirhams per share.
By September 2024, the company’s subscriber count had risen by 6.1% to 79.7 million. Mobile users in Morocco reached 19.9 million, driven by growing demand for postpaid services. The company’s international markets, operating under the Moov Africa brand, are experiencing substantial growth, with 56 million users across ten African countries.
The largest markets include Burkina Faso, Côte d’Ivoire, and Mali, with smaller markets like Togo, Mauritania, and Gabon also showing promising growth.
Fixed broadband and landline services are also performing well, particularly in Mali, which now boasts 253,000 fixed-line customers. Across Africa, the total fixed-line user base is 400,000, while broadband has reached 255,000 as more people seek reliable internet access. Burkina Faso and Côte d’Ivoire appear to be key areas for international growth in the long term.
Maroc Telecom has been a key player in Morocco’s digital transformation since its establishment in 1998. The company introduced fiber-optic internet in 2016 and offers a range of services, including mobile and 4G+.
In addition to its operations in Morocco, Maroc Telecom operates in ten African countries, with 40% of its revenue generated outside its home market. The company has been listed on the Euronext and Casablanca stock exchanges since 2004. The Moroccan government owns 22% of Maroc Telecom, while Etisalat Group holds 53%, and French firm Vivendi owns the remainder.
Was this information useful? Drop a nice comment below. You can also check out other useful contents by following us on X/Twitter @siliconafritech, Instagram @Siliconafricatech, or Facebook @SiliconAfrica.
