Maroc Telecom maintained a presence on the Casablanca ESG 10 Index for the third year in a row.
Rabat – Financial rating agency Vigeo Eiris has named Moroccan telecommunication operator Maroc Telecom “Top Performer CSR 2020” for the seventh consecutive year.
Maroc Telecom issued a press release to announce the news, saying that the title rewards the company for having obtained an “overall rating among the highest of companies listed on the Casablanca Stock Exchange, at the end of the agency’s latest rating cycle.”
The telecommunications operator said Maroc Telecom was distinguished by three specific criteria, including, “Respect for fundamental human rights and prevention of violation of these rights.”
The other criteria include the effectiveness of audit systems and internal controls, respect for freedom of association, and the right to collective bargaining.
The company also maintained its presence on the Casablanca ESG 10 Index for the third year in a row, Maroc Telecom’s statement said.
The Casablanca Stock Exchange launched the ESG 10 index in 2018. The index includes the 10 capitalizations that obtained the highest scores from Vigeo-Eiris.
Maroc Telecom attributed the achievement to the company’s “interest in social responsibility issues, their integration into its growth strategy, as well as the progress made over the years to strengthen its contribution to reducing the digital divide and sustainable development.”
Earlier this month, the company announced that it achieved a turnover of nearly $3 billion during the first nine months of 2020. The number represents a 0.7% increase from the year prior, showing the company’s “resilience” amid the COVID-19 crisis.
The company underlined the strength of its international activities as helping Maroc Telecom withstand COVID-19.
The crisis, however, affected the company’s net income group share, which dropped by 2.6% at the end of the first nine months of 2020.
The net income group share stood at $491.6 million.