African Subsidiaries Boost Maroc Telecom’s Q1 Performance Amid Pandemic Challenges

Numbering 10, these African subsidiaries of Maroc Telecom have contributed significantly to profits in the first quarter of 2021, increasing international revenues by 2% even though the final result shows a 4% drop in revenues compared to 2020.

It appears that the performance displayed internationally by the Telecommunications Group has concerned both mobile data and Mobile Money services. Thus, Maroc Telecom International recorded a 15.8% increase for mobile data and 21.9% more for Mobile Money services. The international division also recorded a 2.2% increase in fixed-line revenues in Morocco. Mobile revenues (- 16.3%) could not withstand the competition and the regulatory environment in the prepaid data segment.

Internally, the giant Maroc Telecom has not been able to impose its former hegemony despite the strong demand for connectivity accentuated by Covid-19. In the highly competitive services market, it has been shaken by its competitors Inwi and Orange. In addition, the company’s data market shares have fallen from 54% in March 2019 to 42.94% in December 2020. A drop of 11.06 points in favor of Inwi, which has seen its market share increase from 24.52% to 31.8% over the same period. Orange’s share has increased from 21.48% to 25.29%.

Learning from the situation, the group intends to continue its policy of diversifying its activities and invest more to strengthen the network in order to improve the group’s revenues. It should be noted that as of March 31, Maroc Telecom reported revenues of 4.889 billion dirhams in Morocco (546.4 million USD) and 4.292 billion dirhams internationally.