• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing
    Malawi’s Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market
    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank
    $20 Million has been endorsed by the AfFB to enhance the business to strengthen investments for Climate-Smart Agriculture in Mozambique AfDB Divulged
    Nigeria’s Telecom Contribution to the Gross Domestic Product (GDP) Hits 16 per cent in the Second Quarter of 2023- report
    Philip Mpango Vice President of Tanzania called for a Global Partnership to address the existing Demographic Emergency
    Dr. Akinwumi Adesina President of the AfDB raised an eyebrow at the Improvement to Failing Global Financial Architecture
    N125 billion hoisted by MTN Nigeria through Commercial Paper Issuance by way to improve its Financing Alternatives
    Uganda will start to export Milk products to Algeria in October
    Ghana’s Ambassador to Togo Kofi Mensah Demitia strengthened existing Economic Cooperation between Ghana and Togo in the path of the African Continental Free Trade Area (AfCFTA)

    Maroc Telecom hits $3 Billion Turnover

    Posted On 22 Oct 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 12

    By Richard Adorsu-

    Photo Credit: Halberd Bastion

    NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana– Moroccan telecommunications operator Maroc Telecom achieved a turnover of more than MAD 27.49 billion ($2.99 billion) during the first nine months of 2020, up 0.7%. The result is due to the strong resilience of international activities, which partially offset the decline in turnover in Morocco despite the COVID-19 crisis, the company said.

    Revenues from activities in Morocco amounted to more than MAD 15.72 billion ($1.7 billion) over the first nine months of 2020, down 3.6%. However, Maroc Telecom’s net income group share dropped by 2.6% at the end of the first nine months of 2020. In numbers, Maroc Telecom’s net income group share stood at MAD 4.52 billion ($491.6 million).

    New Africa Business News
     To Contribute, please click  paypal.me/newafricanews . We Appreciate all your Support

    Operating income before depreciation and amortization (EBITDA) reached nearly MAD 14.36 billion ($1.56 billion), down slightly by 0.3%. The change is thanks to the 6.7% increase in adjusted EBITDA from international activities, which partially compensates for the decrease in adjusted EBITDA in Morocco.

    Maroc Telecom adjusted EBITDA margin rose 0.2 points on a comparable basis to 52.2%. The group’s adjusted operating income stood at MAD 8.71 billion ($947.3 million) at the end of September 2020. The number represents a decrease of 3.1% due to the increase in depreciation, according to Maroc Telecom. Adjusted net operating cash flow increased by 22.4% or MAD 11.22 billion ($1.22 billion) due to the drop in capital expenditures. “The group’s consolidated net debt represents 1.0x times its annualized EBITDA,” Maroc Telecom said.

    Maroc Telecom’s capital expenditure, also known as Capex, was down by 38.5% at the end of September. The group cited its “efficient management of investments” amid the crisis.

    Despite the positive feedback regarding the capital expenditure, Maroc Telecom acknowledged that the mobile segment continues to suffer the COVID-19 crisis due to the loss of “significant income from tourism” and Moroccans residing abroad (MREs).

    NABN
    Africa’s Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

    The major crisis impacted roaming and international entry remarkably. “This decrease is mitigated by the increase in fixed-line revenue which increased by 2% over the nine months of the year,” Maroc Telecom said.

    Abdeslam Ahizoun, the chairman of the Board of Directors of Maroc Telecom Group, described the outcomes as a demonstration of success despite the current health crisis and the “stiffening competition.” “International assets allow the Group to improve its resilience in this difficult environment,” he said.

    He also argued that the company showed a “great capacity” to adapt to face the effects of the crisis by adopting cost optimization plans and managing optimized investments since the outbreak of the pandemic.

     

    Invest in Modern Africa
    Africa Fastest Growing Continent. Six of the World’s Ten Fastest Growing Economies are in Africa. More than Half of Global Population Growth between now and 2050 is Expected to Occur in Africa. This Decade Belongs to Africa as Technology Ripples through the Continent. Africa the Untapped Market. Africa Great Continent to Invest & Grow Business. Africa the Last Frontier for Investment. Africa is the Future.

     

    New Africa Business News Person of the year 2020
    Start Voting for New Africa Business News Person of the year 2020. Nomination Starts July 04 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 50 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com. New Africa Business News Person of the year will be Announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com 

     

    AFRICAN CONTINENTAL FREE TRADE AREA (AfCFTA)
    Accelerating Intra-African Trade and Boosting Africa’s Trading Position in the Global Market by Strengthening Africa’s Common Voice and Policy Space in Global Trade Negotiations. For More Information Contact: African Union Headquarters, P.O. Box 3243, Roosvelt Street W21K19, Addis Ababa  Ethiopia,  Tel: +251 11 551 77 00  Fax: +251 11 551 78 44.

     

    Africa President of the year 2020
    Start Voting for Africa President of the year 2020. Nomination Starts February 01 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 100 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com. Africa President of the year will be Announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com

     

    HELP FIGHT CLIMATE CHANGE
    United Nations Environment Programme (UNEP) Leading Global Environmental Authority that Sets the Global Environmental Agenda, Promotes Coherent Implementation of the Environmental Dimension of Sustainable Development within the United Nations System, and Serves as an Authoritative Advocate for the Global Environment.  Visit:  www.unenvironment.org 

     

    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Kenya’s Fruit Processor Del Monte Limited Divulged Proposals to boost Female Manpower from 2,900 to 10,000 by 2024

    Next Story

    The Director of GAINDE 2000 who’s doubling as the President of the African Performance Institute Retains that E-Commerce could be utilized as a Scheme to Bolster Intra-African Trade

    12 Comments

    1. Annualite October 22, 2020 at 12:33 am Reply

      Thank you for getting back to me with the emailed. Kigali Rwanda. Annualite

      • New Africa Business News, Staff Correspondent October 22, 2020 at 12:34 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Nobel October 22, 2020 at 12:43 am Reply

      Maroc Telecom is another African success story. Werda Botswana. Nobel

      • New Africa Business News, Staff Correspondent October 22, 2020 at 12:44 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Amina October 22, 2020 at 12:51 am Reply

      Maroc telecom is a great telecommunication company. Good service, great company. Thank you for the report. Rabat, Morocco. Amine

      • New Africa Business News, Staff Correspondent October 22, 2020 at 12:52 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Karim October 22, 2020 at 12:57 am Reply

      Maroc tele is always being one of our high performing companies, however their service could be expensive for most of us. But the services are superb. Casablanca Morocco. Karim

      • New Africa Business News, Staff Correspondent October 22, 2020 at 1:01 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. George October 22, 2020 at 1:04 am Reply

      Thank you for the report and thank you for the newsletters. Manchester England. George

      • New Africa Business News, Staff Correspondent October 22, 2020 at 1:05 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Elna October 22, 2020 at 1:09 am Reply

      Extremely glad to see our African own companies striving. Grahamstown, South Africa. Elna

      • New Africa Business News, Staff Correspondent October 22, 2020 at 10:09 pm Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing

    Posted On 26 Sep 2023

    Malawi's Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market

    Posted On 25 Sep 2023

    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank

    Posted On 22 Sep 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing

    Malawi's Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market

    $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank

    Recent Posts

    • Afreximbank exhorted African Nations to give Premium to Export Trading Companies to strengthen Small Medium Enterprises in International Marketing
    • Malawi’s Financial Market Dealers Association has advised the Reserve Bank of Malawi to latch Fissures in the Forex Market
    • $5 Billion has been committed by the African Petroleum Producers Organization for the Establishment of the African Energy Bank
    • $20 Million has been endorsed by the AfFB to enhance the business to strengthen investments for Climate-Smart Agriculture in Mozambique AfDB Divulged
    • Nigeria’s Telecom Contribution to the Gross Domestic Product (GDP) Hits 16 per cent in the Second Quarter of 2023- report

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.