MEDI1TV Afrique : JT Economie - 24/10/2024
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00:00Welcome to Medihand, your daily newscast with the latest economic news.
00:13We start in Morocco, where Allmarcom Finance Company associates the general public with the growth of Credit du Maroc.
00:19A strategic sales offer is launched, allowing to give 11.3% of the capital and the right to vote of Credit du Maroc to the public.
00:27The bank's collaborators are also concerned.
00:30A slice is dedicated to them, allowing them to become shareholders under privileged and accessible conditions,
00:35thus testifying to the group's commitment to the development of its human capital.
00:39In the details, Allmarcom Finance Company thus plans to give to the public and employees
00:441,229,577 shares of Credit du Maroc, a share price of 850 dirhams,
00:52or specific quotas awarded to bank employees, i.e. a total amount of 1,640,350 dirhams.
00:59The subscription period will be extended from October 28 to November 1, 2024.
01:04At the end of this operation, Allmarcom Finance Company should own 67.4% of the capital and the right to vote of Credit du Maroc.
01:12We stay in the kingdom, where the last batch of civil engineering works of the future high-speed line
01:17must link Kenitra to Marrakech, Mojazine and the 3rd Moroccan company to be selected by the NCF
01:23for this large-scale project after TGCC and Jet Contractors.
01:27The market of a value of 2 billion dirhams relies on the work of terraces, artworks, communications
01:33and closures on the Transant, ranging from the periphery of Marrakech to the city center.
01:37Jet Contractors won on October 19 the call for offers related to locations, terraces, artworks, communications
01:46and closures between Bengrir and Marrakech-Palmeray on 62 km for a amount of 2.1 billion dirhams.
01:52TGCC, meanwhile, dropped the batch covering Barchit Stage on 51 km for 2.8 billion dirhams.
01:59The other 4 batches were won by the French GTR for the bypassing Casablanca-Barchit on 36 km for 2.1 billion dirhams
02:07and in the order, the Chinese CRC4 for Sidi Chouraba, 62 km for 3.4 billion dirhams.
02:14High-Speed Engineering Construction for Rabag del Zenata, 64 km, 4.5 billion dirhams
02:20and CRCC20 for Stage Bengrir for 36 km and 2.8 billion dirhams.
02:26Still in Morocco, the financial landscape is preparing for a new phase of consolidation
02:30with solid forecasts for 2024 and 2025.
02:34According to the latest report of BMCI Capital Global Research,
02:37listed companies should see a robust growth fueled by an increase in turnover and net results.
02:43This growth trajectory is part of a context where industries, financial sectors
02:47as well as eco-responsible initiatives are increasingly taking a leading role in the country's economic development.
02:54For 2024, BMCI Capital Global Research analysts expect an increase of 4.9% of the global turnover
03:02to reach 272 billion dirhams.
03:05This progress is largely attributed to the good performance of industrial operators
03:10with an expected increase of 3.8% and a particularly strong dynamic in the financial sector
03:15with an expected growth of 8%.
03:17The insurance sector should also contribute to this performance with an increase of 4.1% of its turnover.
03:24Direction le Canada, or the country's central bank, announced on Wednesday
03:27that it is lowering its 0.5% rate to 3.75%.
03:33This is the fourth consecutive drop in Canada's money loan since June and the most significant.
03:39Still at 5% at the end of the spring, the director's rate of the Canadian central bank
03:43had only seen drops of 0.25% so far.
03:47This new half-point drop was largely anticipated by the markets and analysts.
03:51However, and since the start of the rate drops, nothing suggests that economic growth is about to rebound.
03:57In the latest update of its economic forecasts for July,
04:01the Bank of Canada was expecting an annualized rate of 2.8% by the third quarter,
04:07but everything indicates that it will be just over 1.5%
04:10even if employment went down last month
04:13with a slight decline in the unemployment rate from 6.6% to 6.5%.
04:18And to conclude, your economic crossroads
04:20focus on Saudi Arabia, whose inflation is among the lowest in the world.
04:24In a report on the situation of the economy as of the second quarter of 2024,
04:29the Ministry of Economy and Planning of Saudi Arabia
04:32stated the stability of inflation rates, which remain at low levels
04:36despite the pressures due to the increase in demand.
04:39Regarding the budget deficit, the report shows that the budget had recorded
04:43a deficit of 15.3 billion rials, or more than $4 billion, in the second quarter of 2024,
04:49against a deficit of 12.4 billion rials, or $3.3 billion, in the first quarter.
04:54The document also states the remarkable progress made by the country
04:59in strengthening the non-oil sector and diversifying its economy
05:03with an increase in non-oil activities of 4.9% per annum,
05:08supported by an increase in manufacturing industries of 3.4% per annum
05:13in the second quarter of 2024.
05:16This is the end of your economic meeting.
05:18Enjoy the rest of the program on our antennas.