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Join on Telegram Rabat – Morocco’s main telecommunication company Maroc Telecom reached MAD 6 billion ($620 million) in profit in 2019, recording an increase of 1% compared to 2018.
In a press release, Maroc Telecom said that its total revenue reached MAD 36.5 billion ($3.76 billion) in 2019, recording an increase of 1.3% compared to the previous year. The company attributed the slight improvement in its revenue to the growing mobile data activity in Morocco and African markets.
The company’s customer base, meanwhile, also increased to 67.6 million customers in 2019, up by 11.1%, thanks to the growth in demand for its mobiles (5.2%) and landlines (3.5%) in Morocco.
The company will distribute dividends of MAD 5.54 per share to shareholders, totaling MAD 4.9 billion ($504.43 million).
In January, Morocco’s National Telecommunications Regulatory Agency (ANRT) fined Maroc Telecom MAD 3.3 billion ($339.72 million) for anti-competitive practices in “the implementation of local-loop unbundling.”
Local-loop unbundling is a regulatory process by which telecommunication companies are committed to providing services and telecommunication elements to any requesting telecom company, such as providing access to underground telecommunications infrastructure.
ANRT said that IAM abused its dominant position in the market by delaying and impeding competitors’ access to unbundling on its network and the fixed market.
The sanction came after ANRT conducted an investigation based on the complaint of IAM’s competitor INWI submitted in December 2016.
Maroc Telecom has many subsidiaries in African countries, including Burkina Faso, Benin, Mali, Mauritania, Ivory Coast, Gabon, Niger, Chad, Togo, and the Central African Republic.
