Maroc Telecom, the largest telecom operator in Morocco and an essential actor in the African continent, reported yesterday an adjusted profit of 6 billion dirhams ($674 million) in 2020, recording a slight decrease of 0.4% compared to 2019.
According to a statistics statement issued by Maroc Telecom, the company's revenue rose to 36.7 billion dirhams, up 0.7%, as a result of fixed broadband improvement in Morocco, which offset a slowdown in mobile activities.
The customer base rose 8.1% to 73 million, said Maroc Telecom, citing its African subsidiaries' growth.
Maroc Telecom is being considered a significant Telecom operator in Africa, and last year, it rebranded all its branches in the continent into "Moov Africa."
Maroc Telecom operates through its subsidiaries in many African countries, such as Mauritania, Mali, Benin, Burkina Faso, Ivory Coast, Chad, and others.
The Moroccan state owns Maroc Telecom with a share of 22%, and the UAE's Etisalat owns the upper share with 53%. The company is listed on the Casablanca Stock Exchange and Euronext Paris.
