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Morocco’s first technology distributor, Disway, has declared a 5.6-percent increase in revenue to MAD1.096 billion ($119.14 million) in the first nine months of 2021 despite the impact of global chip shortages on the availability of computer hardware and technology products.
The leading technology product distributor revealed that its revenue from Jan. 1 to Sept. 30 increased by 5.6 percent to MAD1.096 billion ($119.14 million). This is compared to the MAD1.038 billion ($112.85 million) in revenue that it reported during the first nine months of 2020.
The single-digit growth in revenue comes at a time when chip shortages in the global technology industry and manufacturer supply difficulties continue to impact product availability on the market.
Despite the impact of the supply chain disruption on the company’s operating environment, the management is confident and optimistic about its ability to close the 2021 fiscal year with growth.
Disway distributes technological products and offers a wide range of international brands from IT publishers and manufacturers.
The technology product distributor is linked to Moroccan businessmen Karim Benjelloun and Abdellatif Hakam, who hold a beneficial 7.23- and 11.6-percent stake in the hardware company, respectively.
As of press time, Nov. 18, shares in Disway on the Casablanca bourse were trading at MAD671.7 ($73.025), 2.5-percent higher than their opening price this morning.
At the current price, Benjelloun’s stake is valued at MAD92.48 million ($10.05 million), while Hakam’s stake is estimated at MAD146.17 million ($15.9 million), making him one of the richest investors on the Casablanca bourse.
