Morocco’s national steel manufacturing company (Sonasid) ended 2019 with a net income of MAD8 million, down 84% compared with the MAD49.7 million in 2018.
The leader in steel production on the Moroccan market attributed this bad performance to a deterioration of market conditions both internationally and locally. “The pressure of the international context has been accentuated by the more marked drop in the price of finished products compared to that of raw materials and by the rise in the price of industrial consumables,” Sonasid said in a recent financial communication.
On the local market, the company listed on the Casablanca Stock Exchange faced “a strong increase in imports, especially from Turkey.” Subsequently, Sonasid's turnover fell by 5% to reach MAD3.5 billion at the end of 2019 against MAD 3.8 billion in 2018.
Sonasid is controlled up to 64.86% by Nouvelles Sidérurgies industrielles (NSI), jointly owned by the Luxembourg steel group ArcelorMittal and the Moroccan investment fund Al Mada.
Chamberline Moko
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
From WHO-led efforts to strengthen pandemic preparedness to measles vaccination drives in Uganda, al...
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Ecobank named alongside AfDB, ECOWAS, EBID and BOAD in the April 27, 2026 corridor financing mis...
Jetour to produce T1, T2 SUVs in South Africa from 2027 Chery to acquire Rosslyn plant, cre...
Australian junior secures about $2.3 million to fund exploration at Kameelburg Drilling and feasibility work to move forward on large rare earth...
$400 million invested in telecom infrastructure, including fiber across most districts 60% of the population still does not use telecom...
Milk production rises to 5.5 million tons, up 3.5% year over year Output grows for a third straight year, setting a new record Processing volumes also...
BCEAO 2025 net profit falls 14% to 588 billion CFA francs Dollar depreciation drives foreign exchange losses, reversing prior gains Gold...
In the far north of Cameroon, near the Nigerian border, lies Rhumsiki, a destination that feels almost untouched by time. Set within the Mandara...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...