Good first half performance for Maroc-Telecom
The state-owned national telecom company of Morocco, Maroc-Telecom, came on top as the country's best performing and firm for the year. Marco-Telecom recorded a 32 percent growth in the first half of 2000. As of June 30, the company made $500 million, according to Maroc-Telecom chief executive officer, Abdeslam Ahizoune, in a news conference Monday.
Maroc-Telecom provides the country with landlines, Internet connections and cellular lines. Ahizoune said the company, soon to be listed on the stock exchange, had made a huge 48 percent growth in its net profits, which now stand at nearly $115 million.
Ahizoune said an increase in the number of phone owners gave the company the needed push. From June 1999 to August 2000, phone subscribers increased from 1,589,864 to 3,012,389.
However, the substantial increase was seen in the number of cellular phone users.
Maroc-Telecom's mobile phone network serves 1.6 million users and covers 94 percent of Morocco. Ahizoune said the company expects cellular phone users to exceed 2 million by the end of the year.
Internet connections through Maroc-Telecom reached 10,341 in June. The company now serves 16,000 Internet users through direct lines and 450 leased lines. — (Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)