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Société Générale Maroc has undergone a significant transition with its acquisition by the Saham Group, marking the end of Société Générale's presence in Morocco. Despite a 41.61% drop in net income to 795 million dirhams due to exceptional charges, the bank reported strong business activity, with deposits rising by 8.94% to 80.1 billion dirhams and outstanding loans at 93.9 billion dirhams. The bank maintains robust prudential ratios, positioning itself for future growth under new ownership.
ORA Technologies is spearheading the creation of an e-Morocco ecosystem, integrating fintech, e-commerce, and on-demand services into a superapp. Their Kooul food delivery service has rapidly expanded across six cities, while ORA Cash offers a mobile payment solution aimed at the unbanked, promoting financial accessibility. With backing from Witamax & Azur Innovation Fund, ORA Technologies is poised to redefine Morocco's digital landscape and drive the country towards a cashless economy.
ORA Technologies is spearheading the creation of an e-Morocco ecosystem, integrating fintech, e-commerce, and on-demand services into a superapp. Their Kooul food delivery service has rapidly expanded across six cities, while ORA Cash offers a mobile payment solution aimed at the unbanked, promoting financial accessibility. With backing from Witamax & Azur Innovation Fund, ORA is poised to redefine Morocco's digital landscape and drive the country towards a cashless economy.
Ajras secures funding to enhance its position in Saudi Arabia's rapidly growing proptech sector, projected to reach $109 billion by 2030. Meanwhile, ORA Technologies raises $1.9 million to expand its digital payment and food delivery services in Morocco, aiming to drive financial inclusion. Talabat acquires InstaShop for $32 million, strengthening its grocery and retail presence across MENA.
The Financial Accounting Standards Board (FASB) has implemented new fair value accounting rules for Bitcoin and other eligible crypto assets, allowing companies to measure these assets at current market prices in their financial statements. This change is expected to enhance transparency and accuracy in corporate reporting, facilitating better assessment of risks and performance for investors and stakeholders. However, non-fungible tokens (NFTs) remain exempt from these rules due to their unique characteristics and valuation challenges.
GOUT's price has surged over 70% as Ethereum approaches the $4,000 mark, with a notable increase of 140% in the past week. The meme coin's rise is attributed to its new research platform and being selected for the BNB Chain's daily meme coin airdrop.Meanwhile, Stacks has emerged as a top gainer among altcoins, rising from $2.17 to $2.45, while MAD, a Solana-based meme coin, gained visibility through a $36,000 trading competition on Gate.io. Both coins are benefiting from the overall bullish trend in the crypto market as Bitcoin also reclaims the $103,000 level.
LabelVie Group reported consolidated sales of 12.1 billion dirhams for the end of September 2024, marking a 2.2% increase from the previous year. The company continues to invest in expanding its network in France, with total investments reaching 862.9 million dirhams, while maintaining stable net debt at 3.8 million dirhams.
Akdital Group is set for accelerated growth, aiming to expand its presence in Morocco by opening 12 new clinics by the end of 2024, supported by a MAD 1 billion capital increase. With a projected 27.7% annual sales growth and a 32.7% rise in net income by 2029, the company is capitalizing on strong demand for healthcare services. The recent 51% sales increase in the first half of the year highlights the success of its expansion strategy.
Moroccan Dirham
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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