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Join on Telegram Rabat – Morocco’s mobile phone sector is experiencing a surge in popularity, with subscriptions reaching a record 55.9 million in 2023, according to a new report by the country’s Ministry of Economy and Finance.
This marks a significant jump of 5.6% compared to the previous year, pushing the mobile phone penetration rate to an impressive 150.9%.
The growth isn’t limited to mobile. Fixed-line subscriptions also saw a healthy increase of 8.5% by the end of 2023, while internet subscriptions reached nearly 38.3 million, reflecting a 7.6% rise.
This translates to an internet penetration rate exceeding 100%, suggesting multiple subscriptions per household or individual.
However, the report reveals a contrasting picture within Morocco’s telecoms industry. While the overall sector is flourishing, the domestic market seems to be plateauing. Leading operator Maroc Telecom’s first-quarter results for 2024 showcase this trend.
Read also: Maroc Telecom Maintains 1.2% Growth Despite 4.2% Market Decline
Although the company reported a solid overall performance with a consolidated turnover of 9.1 billion dirhams ($900 million), its domestic activities experienced a slight decline of 1.3%. This dip is primarily attributed to a 4.2% drop in mobile revenue within Morocco.
Analysts suggest this slowdown in the domestic market could be due to a combination of factors, including fierce competition among operators driving down prices and a potential saturation point for mobile phone subscriptions.
Despite the domestic slowdown, Maroc Telecom is finding success through its international endeavors. The company’s international operations, particularly its subsidiaries under Moov Africa, reported a significant 3.8% revenue increase at constant exchange rates.
This growth can be attributed to a booming mobile data market (+21.7%) and a corresponding rise in fixed data demand (+19.1%) across these subsidiaries.
