The total transactions of the Telecommunication Company “Maroc Telecom” reached 36.8 billion MAD by the end of 2023, showing a 3% annual increase, the company said in a press release.
Maroc Telecom said that this growth was primarily driven by the revenue growth of the companies under “Moov Africa” and fixed-lined internet, offsetting the decline in mobile phone sales in Morocco.
The company’s activities also recorded transactions worth 19.54 billion MAD, remaining stable over 2023, supported mainly by fixed data (+7.2%), while mobile phone transactions decreased by 1.3% compared to the end of 2022, amounting to 11.63 billion MAD.
Fixed services and internet activities continued to grow, achieving transactions worth 9.68 billion MAD, a 1.3% increase compared to 2022, which was primarily attributed to the growth in fixed data revenues (+7.2%).
The group’s international activities saw a 6.6% growth (+3.4% at a constant exchange rate), reaching over 18.38 billion MAD by the end of 2023, driven by the combined effect of growth in Mobile Data (+22.6% at fixed exchange rates), fixed internet (+11.3% at constant exchange rates), and mobile financial services (+5% at constant exchange rates).
Excluding the reduction in call termination rates, subsidiaries’ revenues rose by 3.8% at constant exchange rates.
Maroc Telecom Group will propose payment of a dividend of MAD 4.20 per share, representing a total payout of 3.7 billion MAD.
The company forecasted stable revenues for 2024.