The index of production of manufacturing industries excluding oil refining fell by 21.4% in the second quarter of 2020 compared to the same period in 2019. This is the consequence of the widespread lockdown in force in Morocco as well as in the majority of partner countries.
Spanish investors are preparing to seize the opportunities offered by the Moroccan market. This is thanks to the recent decision by the government to ease the conditions for foreign professionals to access the national territory.
The Association of Car Rental Companies without Drivers in Morocco (Alascam) has published data showing that 60% of companies are bankrupt and 90% are unable to pay their employees.
The health crisis due to the coronavirus has not affected the performance of the OCP group. In the second quarter, it posted a turnover of more than 15 billion DH.
At the Commercial Court of Casablanca, bankruptcy cases are on the rise and a sharp increase in the number of companies closing down due to lack of resources is expected starting in September. The balance sheet could be very heavy towards the end of the third quarter when the judicial system resumes full activity.
Transport professionals are in the doldrums following the closure, since July 26, of Tangier, Tetouan, Fez, Meknes, Casablanca, Berrechid, Settat and Marrakech, all popular tourist destinations.
The Maroc Telecom group is doing rather well despite the health crisis. This is evidenced by the latest figures published on the number of subscribers and turnover.
The collection rate in the insurance sector has fallen to 35%, leading to a drastic drop in turnover.
Celio, the ready-to-wear and accessories brand exclusively for men, present in Morocco, is facing a cash flow crisis (a loss of nearly 100 million euros in its turnover) due to the closure of its stores in France as part of the lockdown. The question remains whether the brand’s stores in Rabat and other cities in the kingdom are also affected by this crisis.
Covid-19 is having a negative impact on the customer relations sector in Morocco , with a 30 to 40% drop in turnover in May and June. Otmane Serraj, president of the Moroccan Association of Customer Relations, which brings together 17 companies, including Teleperformance, Sitel, Majorel and Outsourcia, decodes the situation.
Royal Air Maroc handling, a 100% subsidiary of the Moroccan airline, achieved 533 million dirhams in turnover in 2019.
In Kénitra , service stations have been deserted due to the prevention and restriction measures imposed to counter the spread of covid-19 in the kingdom. This situation has led to a drastic drop in turnover and the dismissal of part of the staff.