Economy

Morocco's Maroc Telecom reports slight profit drop in 2024

Date: Feb 14, 2025

Maroc Telecom, Morocco's largest telecoms operator, reported on Friday a 0.4% drop in 2024 profit to $616 million as it continues its investment push in high-speed fixed broadband.

Consolidated revenue rose 1.2% to $3.78 million underpinned by growth in its African subsidiaries, the company said in a statement.

Maroc Telecom's customer base grew 4.5% to 79.3 million, it said.

Maroc Telecom, which is listed on the Casablanca stock exchange and on Euronext Paris, is 53% controlled by the United Arab Emirates' Etisalat while the Moroccan State holds a 22% stake.

Besides Morocco, it operates subsidiaries in Benin, Burkina Faso, the Central African Republic, Chad, Gabon, Ivory Coast, Mali, Mauritania, Niger and Togo.

--Reuters--

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