MOROCCO – Morocco’s main telecommunications company, Maroc Telecom Group (IAM) has realized its customer base grew to 76 million in the first quarter of 2022.
IAM is Morocco’s largest internet provider with bases and offices across the continent in countries such as Mauritania, Burkina Faso, and Cote d’Ivoire.
According to the company’s quarterly report, the customer base increased by 3.6% from the same period last year.
The telecom company gained more than 2.8% of Moroccan customers and 4.4% more from its African subsidiaries.
The number of customers signing up to the company also increased by nearly 2% in 2021 compared to 2020, according to its latest annual report.
In a sign that the company has a solid base of customers in the country. Mobile clients in Morocco grew by 2.8% to 19.86 million in the first quarter of 2022, compared to the same period the year before.
However, mobile revenues in the country fell by 5.1% over the same period. The average revenue per mobile customer in the first quarter of 2022, totaled MAD 44.9 per month (us$4.59). This is a decline of 7.9% from the first quarter of 2021.
IAM is relying on expanding its Sub-Saharan subsidiaries in 2022 to increase revenue with large-scale investments, specifically in the fields of mobile data, mobile money, and fixed-line broadband, according to the report.
Maroc Telecom’s mobile customer base in Sub-Saharan Africa increased by 4.4%, from 49.60 million people in last year’s first quarter to 51.78 million in this year’s first quarter.
The biggest increase came from a 13.7% rise in mobile customers in Mauritania, from 2.66 million to 3.03 million.
The Moroccan internet provider’s total revenues in the first quarter of 2022 fell by 0.6% year on year. In 2021’s first quarter, the company registered revenues of MAD 8.91 billion (us$907 million), compared to MAD 8.77 billion (US$892 million), the year before.
IAM’s total revenue amounted to MAD 19.9 billion (US$2.1 billion) at the end of 2021, a decline of 4.7% compared to 2020.
The growth is attributed to the increasing penetration of mobile phones in the North African region with regard to technological advancements.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE HERE
