Casablanca – The National Railways Office (ONCF) of Morocco has reported remarkable financial results in its latest quarterly report. By the end of March 2024, the ONCF achieved a total transaction volume of $105.5 billion, marking a significant 13% increase over the previous year. This growth highlights the ONCF’s ongoing efforts to improve railway services and bolster the nation’s economic development.

According to the ONCF’s statement, passenger activity remained on an upward trajectory, with 1.31 million passengers transported during the first quarter of the year. This figure represents a slight increase from the same period in 2023, resulting in a total passenger transaction value of $60.1 million. The steady growth in passenger numbers reflects the ONCF’s dedication to providing efficient and reliable transportation services to the Moroccan population.

In addition to passenger transport, the ONCF also experienced significant growth in freight transportation. Approximately 443,298 metric tons of goods were transported during the first quarter, marking a 12% increase compared to 2023. This growth was primarily driven by the resurgence in phosphate transport, which saw a remarkable 32% increase. The total value of goods transactions reached $40.3 million, reflecting a 13% improvement compared to the same period last year.

Furthermore, the ONCF allocated $33.1 million towards investment expenditures, focusing primarily on maintaining service performance, ensuring service quality, and modernizing the railway network. These investments are vital for enhancing the efficiency and reliability of railway services in Morocco, thereby contributing to the country’s overall development.

Despite these achievements, the ONCF remains committed to managing its indebtedness effectively. By the end of March 2024, the ONCF recorded a debt of $4.47 billion, representing a decrease compared to the previous year. This prudent approach to debt management ensures the financial sustainability of the ONCF and supports its continued efforts to provide high-quality railway services to the people of Morocco.

The ONCF’s latest financial report reflects its ongoing commitment to excellence and innovation in the railway industry. With continued investment in infrastructure and services, the ONCF is well-positioned to further enhance its role as a key driver of economic growth and development in Morocco.