Optimization of the company's cash flow

8. Development:
Currently, this department is absent, seeing that the company work in the name of the group “T-MAN
HOLDING”, and on the other side, works in the name of the producer INWI.
9. Microsoft Activity:
In order to reserve the company’s information, this part will not be discussed during this research.
10. S.A.V Activity:
Is nothing more than the sales administration of the company.
II.
EXTERNAL ENVIRONMENT:
A. Company’s operating field
1. Market
The company operates in the telecommunication market. This market is known as the most profitable
market on which all companies take parts either as clients or sponsors or suppliers, and most of them are
clients.
Morocco benefits from having one of the most advanced telecommunications markets in Africa. The sector
is efficiently managed by an independent regulator, and developments within the market segments are
often used as a model in other countries.
With an effectively competitive mobile sector, Morocco also has one of the highest penetration rates in the
region. The three mobile network operators have become the main internet service providers through their
networks, which are expected to be upgraded with LTE technology by the end of 2014 following the auction
of suitable spectrum.
Vivendi’s sale of its 53% stake in MT in late 2013 to Etisalat is expected to introduce a new dynamic to a
company which has been obliged to reduce the number of employees in recent years in a bid to cut
operating costs.
The fixed-line market remains underdeveloped despite the launch of a second and third network operator
to compete with Maroc Telecom. Fixed-line penetration has fallen since 2010 while the number of lines is
expected to fall to about 2.9 million by the end of 2014. This reflects consumers’ preference for mobile
services.
A similar trend is seen in the broadband market, where the dominance of Maroc telecom’s ADSL service
has waned dramatically in recent years. Having once accounted for over 90% of the market, by the end of
2013 ADSL represented only 15% of internet subscribers, with 3G representing almost 85%. Nevertheless,
fixed-line infrastructure is being upgraded as part of the government’s ten-year National Broadband Plan
which aims to provide fixed or mobile broadband access to the entire population by 2022.
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