Morocco’s telecom services firm Maroc Telecom raised MAD 3bn ($330mn) through its first private bond issuance in the domestic market, Al Maghrebia reported.
The funds will be used to refinance part of the company’s debt. Another part will be invested in the development of 5G and fibre optic infrastructure. The bond issuance comes as part of Maroc Telecom's plans to strengthen digital infrastructure and investment in high-speed fixed broadband and next-generation mobile networks.
The bond has a fixed interest rate of 2.37% and matures in two years.
Maroc Telecom is 53% owned by the UAE’s Etisalat and 22% by the Moroccan state. It generates 40% of its revenue from African subsidiaries in Burkina Faso, Côte d’Ivoire, Benin, the Central African Republic, Chad, Gabon, Mali, Mauritania, Niger, and Togo.
Maroc Telecom reported a 5.9% decline in net profit in Q1 2025 to $154mn as consolidated revenue dropped by 2% to MAD 8.8bn dirhams, largely driven by a 3.7% decline in revenue from Morocco. The company’s African subsidiaries recorded a 4.1% increase in revenue.
The company’s customer base grew by 3.6% to 80mn users by the end of March 2025.
Maroc Telecom recently partnered with the International Finance Corporation (IFC) to secure $425mn in credit facilities to improve mobile connectivity in Chad and Mali and accelerate 4G deployment in both countries.
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