African Market Review 05 31 2021
- In Morocco, BANK OF AFRICA published its results for the first quarter of 2021 showing a +10.9% increase in consolidated NBI to MAD 3.5bn;
- In Tunisia, the new Biden administration has just proposed the allocation of a budget of USD 197.1m for U.S. assistance to Tunisia;
- In Egypt, FAISAL ISLAMIC BANK increases financing for large and medium enterprises to EGP 10.5bn in March. The bank's financing for microenterprises reached EGP 17.046m;
- A strong daily performance was recorded by the Casablanca Stock Exchange (+0.54%) whereas the BRVM Stock Exchange closed on the red (-11.13%).
BMCE Capital Global Research is a subsidiary of BMCE Capital Group dedicated to Research and Financial Analysis. It is addressed to professional investors (financial institutions, management companies, etc.) to which it provides information and independent analysis aligned with international standards. BMCE Capital Research covers equities, interest rate, Forex and commodities markets in Morocco, Tunisia and WAEMU region (Bourse Régionale des Valeurs Mobilières, BRVM). Thanks to its latest generation technology platform, to its teams and to those of its partners, the Research Office of BMCE Capital is now able to cover simultaneously several places in Africa and to produce several publications co-branded under its umbrella brand African Securities Network, ASN.
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