This was the most commented IPO on the Casablanca Stock Exchange (Morocco) of the year 2022. With 4.5 billion dirhams (around 415 million euros) in subscriptions, or almost four times the requested amount, the Akdital group, owner of the first network of private clinics in Morocco, carried out the largest fundraising that the stock market has seen in fourteen years.
More than 8,000 carriers of 32 nationalities, individuals and institutions alike, rushed to the action. At the issue price of 300 dirhams, its price has since soared, stabilizing around 740 dirhams. A meteoric rise usually observed in real estate or construction. “Very few companies have managed to achieve such performance”underlines Marwane Najimi, analyst at Sogecapital Bourse.
Read also | Morocco facing a critical shortage of doctors
Akdital’s sensational entry onto the stock market was – and remains – the first listing in Morocco of a health company. Doctor Rochdi Talib, its founder and CEO, detailed his financing needs to investors: opening new clinics, modernizing equipment, diversifying the offer. With its sights set on a turnover that it planned to double, to reach 2.2 billion dirhams in 2023.
It was ultimately “only” 1.9 billion dirhams, but the rate of growth of its revenues (+ 500% in four years) made Akdital, a group created in 2017, the symbol of the growth of private investment in health in Morocco.
An open door to investment funds
Just look at the multiplication in the number of private clinics: less than 100 in 1990, more than 400 today, or nearly 90% of the country’s primary care structures. In total, nearly 15,000 beds – more than a third of the national hospitalization capacity –, the majority of which are in for-profit establishments.
The observation is striking: when the number of beds in public hospitals fell by 1% between 2017 and 2022, that of private clinics increased by 50%. Concerning Akdital, from one clinic in 2017, the group grew to twenty-two health establishments. And plans to open fifteen new ones by the end of 2024.
This unprecedented acceleration owes a lot to “law 131-13”, adopted in 2015. Ironically, it is a historic executive of the Party of Progress and Socialism, Houcine El Ouardi, then Minister of Health (2012- 2017), which carried this text having opened the capital of clinics to private actors, to “make the health system more attractive for investment”. An open door to investment funds.
You have 58.04% of this article left to read. The rest is reserved for subscribers.
Investment in Savings Certificates declines for the fifth month | Savings
#Investment #Savings #Certificates #declines #month #Savings
Savings Certificates (CA) lost money again in March. The total value was 33.995 million euros, 20.53 million less than in the previous monthand the fifth consecutive reduction, although the decrease in new subscriptions has been occurring since the summer of last year, after the cut in the product’s profitability for new subscriptions.
The data released this Monday by the Bank of Portugal (BdP) thus confirms the impact of the remuneration cut for series F, the only one that has been open to new subscriptions since June 2023.
The maximum value of Certificates was reached last October, at 34.07 billion, which shows that, in recent months, new subscriptions do not compensate for redemptions, recorded mainly by the reaching of maturity of applications, but not only that.
In the same way, but in this more common case, the balance of Treasury Certificates also decreased again, falling to 10,587 billion euros, 103.51 million euros less. The remuneration of this product has also suffered several cuts over the last few years, now registering fewer subscriptions, which do not compensate for redemptions due to product maturity.
The change in the CA coincided with the high point in the product’s profitability, associated with the three-month Euribor rate, which was generating an outflow of amounts invested in bank deposits for the State product. With this decision, the maximum base rate fell from 3.5% in series E to just 2.5% in series Fthe only one that accepts new subscriptions.
As in previous series, there are retention bonuses that are added to the CA base rate, but these also decreased, becoming 0.25 percentage points between the second and fifth years, and reaching 1.75 points in the last two years of the subscription term.
On the other hand, the amount of new deposits has been rising, benefiting from an increase in interest rates which, in the meantime, are already falling. The average interest rate on new deposits has been falling since the beginning of the year, standing by 2.81% in Februarya value that represents a decrease of 0.27 percentage points compared to the maximum reached last year, of 3.08% (December).
Interestingly, last year saw a very significant increase in the offer of structured deposits, a type of product that has traditionally presented returns close to zero.
Related News
Investment in Savings Certificates declines for the fifth month | Savings
Fraud Scheme When You Become an Accomplice: How to Recognize and Protect Yourself | Business
The expert explains that criminals are constantly looking for ways to legalize money embezzled from companies and private individuals. In such cases, they use third parties to involve them in their activities through fake job advertisements.
Those tempted by them can become so-called money mules. money mule). This is a person who receives money into his bank account from one person and transfers it to another person, or cashes it out and passes it on to fraudsters, often receiving an attractive fee or other benefits.
Personal archive photo/Linas Sadeckas
“Therefore, although a money mule is not an organizer of a financial crime, he becomes an accomplice of criminals, and by allowing other persons to use his account, he risks losing his money as well. All banks consider such reckless behavior risky, therefore they may refuse to carry out monetary operations or transactions, terminate business relations, and a person caught in the traps of criminals may even face legal consequences,” the expert emphasizes.
How to recognize fake job offers?
One key feature is that one of the job functions presented in the ad or during a subsequent interview is related to money transfers. On the other hand, another sign is vaguely defined job functions and no contact person.
“In general, an offer may seem too good to be true.” However, the private person offering the job also often communicates unprofessionally and only online. In addition, you may be asked to provide personal data (such as payment card details) or to pay a registration fee for employment. There is also often pressure to accept the offer immediately”, says L. Sadeckas.
What can fake job ads look like?
One of the possible forms of such a fake job advertisement is offering a certain amount of earnings for viewing YouTube videos and getting likes.
“However, for the opportunity to earn more, you are asked to pay a membership fee or otherwise pay extra. Payment of this fee may result in an abrupt termination of communication. On the other hand, fraudsters may continue to try to extort money, claiming that the tasks were not completed completely or incorrectly, and demanding additional payment for this,” says the Luminor expert.
Another example of a potential fake job ad is telecommuting offers. According to the expert, such offers are usually sent by spam or malicious e-mails. by letters, various internet platforms.
“These offers ask you to use a personal bank account for transfers. It can be claimed that the money is going to charities, invited to become mystery shoppers and, once the funds are collected, transfer them to the appropriate recipient. Monetary bonuses may also be promised for each transfer,” the expert explains.
You should also be alert when dealing with other so-called “job opportunities” or guaranteed employment, says L. Sadeckas.
“Usually, the victim is first contacted by e-mail. by post You may be offered extremely attractive opportunities to start a business or otherwise be guaranteed a job or permanent income. You may be asked to pay in advance for business plans, starting materials, software and to involve other people in the scheme,” emphasizes the Luminor bank expert.
How to protect yourself from fraudsters and avoid falling into their traps?
In this case, according to the expert, one of the most important tips is to simply not accept job offers that directly involve money transfers through your personal bank account. In addition, before responding to a job advertisement, you should take a closer look at the company offering the job and the job itself.
Also, be careful if the potential employer rushes you to take some action or make a decision as soon as possible.
“Also, never disclose information about Internet bank logins, passwords or other confidential information to anyone. For a supposed employer who found you with the help of social networks, such things should not be relevant. If you are not sure about the job advertisement or the requested data, consult with friends or relatives”, advises L. Sadeckas.
If, however, you have fallen into the traps of fraudsters, the expert recommends that you immediately stop any communication with the fraudsters, before saving all information about the alleged employer – contact details, correspondence, etc.
“Also contact your bank as soon as possible and be sure to report the incident to the police.” You can do this on the portal ePoliceafter calling 112 or coming to the nearest police station”, says L. Sadeckas.
#Fraud #Scheme #Accomplice #Recognize #Protect #Business
2024-04-18 03:53:36
Related posts:
Fraud Scheme When You Become an Accomplice: How to Recognize and Protect Yourself | Business
Leave a Reply