Maroc Telecom nets 4 billion dh in 2003
Morocco, Business, 3/24/2004

Moroccan phone company "Maroc telecom" has achieved a 4 billion Dirham profit (1 dollar = around 9 dh) last year, i.e an 8.5 percent rise compared to the previous year, announced Tuesday, the company's chief.

Abdeslam Ahizoune told a news conference his company also achieved a 15.2 billion dh in sales, i.e a 3.4 percent increase compared to 2002.

He also revealed that mobile subscribers have reached over 5 millions, i.e a 68 percent of the market's share, and the landline phone stood at 1.2 million subscribers.

Maroc Telecom's sales accounts for 3.5 percent of the Gross Domestic Product (GDP) in the country's economy, he noted adding the contribution of the company to the state's finances has reached 7 billion dh in taxes and dividends. The company, he went on, employs 12.000 people.

Concerning access to Internet, the company's chief said efforts are being focused on promoting investments in this sector as well as in the mobile sector.

Early this month, general manager of the Moroccan Telecoms Regulatory Agency (ANRT), Mohamed Benchaaboun said they were about 7.4 million subscribers to the mobile phone in Morocco.

The mobile phone market in Morocco is shared between Maroc-Telecom, in which French Vivendi holds 35 percent of shares, and Meditel, a Morocco-Spanish-Portuguese consortium.

While Maroc-Telecom has seen its subscribers rise from 4.6 million subscribers in 2002 to 5.2 million in 2003, i.e. a 13.4 percent rise, Meditel's subscribers reached around 2.2 million in 2003, against 1.6 million in 2002 ("34.4 percent), he said.

Previous Stories:
  Over seven million mobile phone subscribers in Morocco   (3/3/2004)
  Vivendi Universal to maintain shares in Moroccan phone operator capital   (8/5/2003)
  Morocco will honor commitment for phone operator privatization, minister   (6/16/2003)

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