ONCF Anticipates Sustained Growth in 2024 with 56 Million Passengers

Saturday 23 December 2023 - 09:37

Morocco's National Office of Railways (ONCF) has unveiled ambitious forecasts for 2024, aiming to transport 56 million passengers and generate a revenue of 4.6 billion dirhams (MMDH). These optimistic projections were revealed following the ONCF's Board of Directors meeting, chaired by the Minister of Transport and Logistics, Mohammed Abdeljalil.

Continuing the momentum from 2023, the ONCF envisions sustained growth across all its activities in the coming year. According to an official statement, the ONCF anticipates a 7% increase in revenue compared to 2023, reaching 4.6 MMDH, with a forecasted EBITDA of 1.6 MMDH showing continuous improvement from the closing predictions of 2023.

The ONCF's CEO, Mohamed Rabie Khlie, highlighted that the 2024 budgets were designed considering the government's guidelines related to the 2024 Finance Law. These budgets also reflect a cautious approach to commodity price fluctuations and inflation, building on the outstanding performance of passenger and freight activities recorded in 2022 and 2023.

In terms of investment, the ONCF will continue its efforts to accelerate various projects aimed at enhancing mobility, contributing to regional development, and bolstering the national industrial sector related to railway professions. These initiatives will also support improving logistical competitiveness, creating employment, and adding value.

2024 marks the commencement of the next railway development cycle, with several landmark projects aimed at reinforcing the role of the rail as the backbone of mobility in the Kingdom, particularly in anticipation of the 2030 World Cup.

At the end of the session, the Board of Directors congratulated all ONCF collaborators for their commendable efforts in achieving objectives and contributing effectively to sustainable mobility. The Board also reviewed the likely results of the 2023 fiscal year and approved the budgets for 2024.