The Maroc Telecom Group reported consolidated revenues of 18.26 billion dirhams (MMDH) by the end of June 2024, marking a 0.9% increase. This growth is primarily driven by the performance of its Moov Africa subsidiaries, which saw a 3.7% rise in revenue, according to the group’s financial results statement.
The Maroc Telecom Group continues its momentum in Sub-Saharan Africa, displaying solid operational results in the first half of 2024, in line with its objectives, demonstrating the robustness of its fundamentals. The Group supports the growth of its activities through significant investments and implements cost optimization programs to ensure high profitability. It proactively adapts its product and service offerings to meet market changes and customer needs.
As a result, the revenues of Moov Africa subsidiaries improved by 3.7% in the first six months of the year to 9.32 billion dirhams, driven by the strong performance of Mobile Data (+18.2%), Fixed Internet (+21.6%), and Mobile Money (+4.6%). Excluding the decrease in call termination rates, subsidiary revenues increased by 4.3%.
In Morocco, revenues decreased by 1.6% compared to the same period in 2023, amounting to 9.52 billion dirhams. Fixed Data revenue continues to support the Fixed segment, partially offsetting the decline in Mobile revenue. By the end of the first half of 2024, Mobile revenue dropped by 4.6% compared to the same period in 2023, reaching 5.47 billion dirhams.
