Resolution 9 of 11/04/2024 – Restitution and authorization of extinction of public debt securities referred to in article 3 of Law 24 June 2022 n.94, in Delegated Decree 16 December 2022 n.168 and in Delegated Decree 16 December 2022 n. 169, pursuant to article 2 of Law 15 September 2023 n.132

Home » Resolution 9 of 11/04/2024 – Restitution and authorization of extinction of public debt securities referred to in article 3 of Law 24 June 2022 n.94, in Delegated Decree 16 December 2022 n.168 and in Delegated Decree 16 December 2022 n. 169, pursuant to article 2 of Law 15 September 2023 n.132

In a speech read on his behalf by Mohamed Larbi Kerkeb, president of Ibn Tofaïl University, Mr. Miraoui indicated that this is an initiative which would strengthen those carried out by other national actors operating in the field. financial sector and which together constitute a driving force for promoting the role of the financial sector as an engine of economic growth in the Kingdom.

He also noted that the creation of a pool of skills in the financial field, for an emerging country with high potential like Morocco, has no need to be demonstrated, especially since the Kingdom aims to establish itself as a pole continental financial institution, dedicating its role as an actor in the service of the development of Africa, in accordance with the enlightened vision of HM King Mohammed VI.

According to the minister, “E-Bourse” will allow young people not only to better understand and master trading strategies in real conditions of the national stock market, but also to prepare them for a promising professional future in the trades of the finance, in general, and those of the stock market, in particular.

The said platform, he continued, should also constitute an essential lever capable of promoting more informed decision-making for the benefit of informed users, thanks to reliable analyses, based on artificial intelligence technology.

At the same time, Mr. Miraoui returned to the new educational model supported by the ESRI-2030 Pact which places the empowerment of students among its primary goals.

For her part, the Minister Delegate in charge of the Digital Transition and Administration Reform, Ghita Mezzour, indicated that “E-Bourse” is intended to be a space dedicated to financial education and simulation of activity. of the Stock Exchange for the benefit of students and the general public and constitutes a very laudable initiative offering a real opportunity for learning, analysis and understanding of trading and the main economic foundations which govern Moroccan business.

The minister also welcomed the citizen actions carried out by the Stock Exchange to promote stock market culture, in particular the implementation of trading rooms within universities, offering students practical and immersive spaces capable of equipping them to develop their skills, be in tune with technological developments and better integrate a constantly changing professional world.

This initiative is innovative by combining the strength of digital technology as a vector for the large-scale dissemination of financial and stock market culture and artificial intelligence in the service of education, in a field that is as exciting as it is enriching, which is the stock market, she argued, specifying that the objective is to make financial education a determining lever for the development of the capital market and the stock market in particular.

Ms. Mezzour also recalled the major reforms of the capital market, undertaken by the public authorities in recent years, in partnership with regulators and market players.

The positioning of the Stock Exchange and the capital market in general on the path to emergence and the consolidation of its regional dimension through Casablanca Finance City are the result of an ambitious reform process aimed at the development of a sector efficient, inclusive and resilient financial system, she noted, explaining that these reforms focused mainly on three pillars (the consolidation of financial stability, the deepening of the capital market and the strengthening of financial inclusion).

In the midst of digital transition, financial education should make digital an important vector, both in terms of the design of training offers and in terms of supporting awareness-raising actions, underlined Ms. Mezzour.

And added: “The opportunities offered to us by the digital revolution are considerable: cost reduction, simplification of procedures, transparency, economic agility, emergence of new activities, strengthening of financial inclusion and emergence of new savings and savings opportunities. More specifically, the digitalization of financial services presents great potential which must be seized to improve traditional financial services and above all to develop alternative savings and financing solutions.

For the minister, the “E-Bourse” platform, taking into account the digital transition and the development of internet penetration and connectivity, constitutes a model which opens the way to new perspectives in terms of promoting education and financial culture aimed at a young population on the lookout for digital technology and which now stands out as the most appropriate tool to reach wider audiences at a lower cost, allowing thus scaling up financial education programs.

Automotive sector

Tesla shares rose sharply after disappointing quarterly results. The promise that a new cheap model will come onto the market next year convinces investors that improvement is on the way.

Investors prefer to look forward rather than backward. This stock market wisdom was once again underlined by the price reaction of the Tesla share. It gained 11.8 percent after poor first-quarter results. Sales fell 9 percent to $21.3 billion. Net profit halved to 1.13 billion and during the first quarter Tesla burned more cash than it took in due to the many investments. It had been since 2020 that the car company had been in that situation. Those poor figures were not entirely a surprise, as Tesla had previously published poor sales figures. Tesla sold 8 percent fewer cars in the first quarter, because of the slowdown in sales of electric cars and competition from China. That bad news was already incorporated into the stock price.

Investors were mainly interested in the prospects. Many doubts have arisen about Tesla’s growth strategy in recent weeks. Elon Musk had said that Tesla should focus on the Robotaxi, a self-driving car, and much less on the cheap ‘Model 2’. However, the market was counting on the $25,000 model for a new growth spurt.

Earlier than expected

CEO Elon Musk has now assured that that car will be available and even sooner than expected: a cheap Tesla should roll off the production line by the middle of next year. The car manufacturer is changing its plans. Initially, Tesla wanted to build the car on new production lines that were designed in a revolutionary different way. Tesla has decided not to do this for the time being. It will build the Model 2 on the existing lines, allowing the cars to enter the market earlier and achieving better utilization of the existing assembly lines in the four factories. They can theoretically build 3 million cars per year. Tesla is confident that it can produce 50 percent more cars in this way, without having to invest in new expensive factories.

In this way, Tesla is more similar to classic car builders, who also build multiple models on the same line. The disadvantage of such a flexible line is that it requires more manpower. In Musk’s original plans, that cheap car had to be built on a new, extremely automated line.

Musk did reiterate his belief that Tesla will be the first to crack the code for self-driving cars. Artificial intelligence would convert the many data from the driving Teslas into an operating system. Anyone who does not believe that Tesla will be the first should not invest in the stock, the CEO said during a conference call.