Finance

Crédit du Maroc to invest $20 million in 2017 and 2018, in its IT infrastructure

Wednesday, 07 December 2016 09:05

Crédit du Maroc plans to invest 200 million dirham ($19.96 million at the current rate) in 2017 and 218 in its technological infrastructure. The information, which was disclosed in the note for the bond that the lender is issuing, indicates that 100 million dirham will be invested next year.

A fourth of this sum will be used to develop the participative bank. 15 million dirham will be dedicated to projects that fall under its IT master plan; 8 million to improving process and the remaining of 2017’s budget to IT projects.

In 2018, Crédit du Maroc will also invest 100 million dirham. However it did not say how it will use it. CDM said the 200 million dirham will be invested outside its subsidiaries, thus the budget at the group level could be way more substantial.

The CDM share showed a plus-value of 4.35% in the Bourse de Casablanca, for the current period starting from January 1, 2016. It significantly rose, after March when it was at its lowest in the past five years. Its performances for the year which is ending will be closely studied by investors. 

On the same topic
• The IMF has approved an immediate disbursement of $367 million to Ghana, bringing the total financial support provided to the country since May...
Zenith Bank is in advanced talks to acquire a tier-two bank in Kenya. The Central Bank of Kenya has raised capital requirements, triggering market...
• DPI acquires minority stake in Egypt’s largest private hospital group• Funds to support expansion across Egypt and key Gulf countries• Investment among...
WAEMU states collectively raised nearly 7,000 billion CFA francs in the first half of 2025, a record amount driven by increased financing needs, the...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
03

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
04

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.