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Rabat – Morocco’s main telecommunications company, Maroc Telecom (IAM), reported a 4% growth in total revenue in the first quarter of 2020. IAM’s revenue now stands at MAD 9.3 billion ($911 million), the group said in a press release on Monday, April 20.
Maroc Telecom further reported a 0.9% rise in adjusted profit over the first three months of the year to MAD 1.6 billion ($156.7 million). Meanwhile, the group’s customer base reached 69 million, representing an increase of 11.3%.
“The results of this first quarter are driven by the positive momentum of customer base and Data revenue across the countries in which the Group operates,” Chairman of Maroc Telecom Management Board Abdeslam Ahizoune was quoted as saying in the press release.
The company reassured its clients that its technical staff are working to increase the capacity of its networks to cope with the surge in data usage during the state of health emergency.
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“The Group has managed to ensure the availability and continuity of its services under exceptional conditions imposed by the pandemic. It thus quickly mobilized technological resources to increase the capacities of the networks in order to face the increase in Data usage,” Ahizoune added.
Earlier today, Maroc Telecom announced the donation of MAD 1.5 billion ($147 million) to Morocco’s COVID-19 fund, created at the instruction of King Mohammed VI to mitigate the impact of the pandemic on the nation’s economy and society.
Government officials, civil servants, public and private institutions, and philanthropists have made financial contributions to the fund to help the state address challenges related to the novel coronavirus spread.
