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Moroccan Mobile Market Mania: A Tale of Staggering Growth and Domestic Stagnation
Morocco's telecommunications industry is undergoing a significant transformation as the nation's mobile market experiences remarkable growth. By the end of 2023, mobile connections had soared to 55.9 million, according to a report from the Ministry of Economy and Finance. This represents a 5.6% increase from the previous year, pushing the mobile phone penetration rate to an astonishing 150.9%. This surge highlights Morocco's increasing appetite for cellular connectivity.
The fixed-line sector has also seen considerable growth, with subscriptions rising by 8.5% by the end of 2023. Meanwhile, internet subscriptions reached 38.3 million, a 7.6% increase, resulting in a penetration rate exceeding 100%. This suggests that multiple subscriptions per household or individual are becoming common.
Despite the growth across the telecommunications sector, a contrasting trend is emerging in the domestic market, indicating possible stagnation. Maroc Telecom, the nation's leading telecommunications company, revealed in its first-quarter results for 2024 a consolidated turnover of 9.1 billion dirhams ($900 million), indicating robust overall performance. However, the company's domestic operations showed a 1.3% decline, with mobile revenue in Morocco dropping by 4.2%. This could signal that the domestic market is nearing a saturation point for mobile phone subscriptions.
Industry analysts suggest that the domestic slowdown might be caused by intense competition among operators, which has led to lower prices. This, combined with a potential saturation point for mobile subscriptions, creates challenges for future growth within Morocco.
Despite these domestic issues, Maroc Telecom's international operations offer a brighter outlook. The company's overseas subsidiaries under the Moov Africa banner reported a significant 3.8% revenue increase at constant exchange rates. This growth is driven by a surge in mobile data demand (+21.7%) and a 19.1% increase in fixed data demand across these international markets. This indicates untapped potential for growth outside of Morocco's borders.
As Morocco's mobile market continues to grow, the industry faces a critical juncture. To sustain this growth, the nation must address the challenges posed by a saturated domestic landscape while exploring new opportunities in international markets. The future of Morocco's telecommunications industry will depend on its ability to adapt and innovate in the face of these evolving trends.