Daily Press Review - Thursday, March 21, 2024
Masen Integrates Innovative Thermal Storage System into its R&D Platform
The Moroccan Agency for Sustainable Energy (Masen) is set to install an innovative thermal storage system within its R&D platform in Ouarzazate. This initiative is part of the "Solheatair" project, aimed at developing an integrated solution for production, storage, and valorization of heat generated by renewable energy sources.
The storage system will have a capacity of 5 MWh and operate at temperatures up to 900°C, with a power supply of 300 kW. It will store heat generated by renewable energy sources such as solar energy, to be utilized later for industrial applications or converted into electricity.
This project will contribute to reducing CO2 emissions and supporting Morocco's energy transition. Additionally, it will foster the development of an ecosystem involving SMEs and research centers from Wallonia and Morocco active in the field of renewable energies.
Source: Le Matin du Sahara
Radisson Hotel Group Aims for 25 Hotels in Morocco by 2030
The Radisson Hotel Group plans to double its number of establishments in Morocco, increasing from 11 to 25 by 2030. This expansion will focus on strategic cities including Casablanca, Marrakech, Rabat, Tanger, Agadir, and Fès.
The primary objective is to strengthen the group's presence in Morocco's major economic and tourist hubs. Additionally, the group aims to leverage the momentum generated by the FIFA World Cup 2030 to develop a diversified range of business hotels, serviced apartments, mixed projects, and exceptional hotel complexes.
The upcoming opening of the Radisson Hotel Casablanca Gauthier la Citadelle marks a significant milestone in this strategy. This establishment will serve as the flagship of the Radisson brand in Morocco, symbolizing the group's commitment to quality and diversified expansion.
Source: Le Matin du Sahara
"Les Nuits de Souk Laghzal" Ramadan Festival Returns for its Second Edition in Salé
From March 19 to April 2, the Souk Laghzal square will resonate with Andalusian music, Malhoun, Aissawa heritage, and other cultural expressions.
Organized by the Municipality of Salé and the Salé Foundation for Culture and Arts, this festival aims to promote cultural offerings during the month of Ramadan and showcase the city's historical heritage.
The program for this edition promises lively musical evenings featuring groups from Salé specialized in Andalusian singing, Malhoun, and Aissawa heritage. Religious chants and Sufi poetry will also take center stage.
Source: Liberation
Gitex Africa Morocco 2024: Call for Applications for 200 Moroccan Start-ups
The call for applications for the second edition of Gitex Africa Morocco is now open! This event, taking place in Marrakech from May 29 to 31, 2024, will provide an opportunity for 200 Moroccan start-ups to present their innovative projects and ideas, showcasing their potential and expertise.
Selected start-ups will benefit from numerous advantages, including presenting their projects to a wide audience, highlighting their potential and expertise, pre-event support such as roadshows and expert boot camps, and networking opportunities with investors, potential clients, and other industry players.
Source: Aujourd'hui le Maroc
New Industrial Complex in Berrechid
The Minister of Industry and Trade, Ryad Mezzour, inaugurated on Tuesday a new industrial complex by the Mutandis Group in Berrechid. With a cost of 285 million dirhams, this complex is expected to stimulate the local economy by creating 250 direct jobs.
Mezzour praised the investment, emphasizing its crucial role in strengthening national production and diversifying high-value-added products. The complex will meet the growing needs of the Moroccan and African markets.
Source: Aujourd'hui le Maroc
Insurance Sector Performance in 2023: Positive Outlook
The year 2023 witnessed positive dynamics for the insurance sector in Morocco. All indicators showed growth, with a total turnover of 56.7 billion dirhams, representing a 4% increase.
Non-life premiums accounted for 54% of the total, with a 6% growth reaching 30.8 billion dirhams. Life premiums, on the other hand, constituted 46% of the total and increased by 1.8% to reach 25.9 billion dirhams.
Savings in dirhams also experienced a 1.5% growth, reaching 21.26 billion dirhams. Automobile premiums recorded the highest increase, rising by 7.1% to 10.7 billion dirhams.
Source: Aujourd'hui Le Maroc
Bank Al-Maghrib Maintains its Key Interest Rate at 3% and Anticipates Economic Growth of 2.1% in 2024
During its meeting on Tuesday, March 21, 2024, in Rabat, the Bank Al-Maghrib (BAM) decided to keep the key interest rate unchanged at 3%.
BAM's statement explains that this decision aims to "strengthen the anchoring of inflation expectations and support its return to levels in line with the price stability objective."
The Council notes that domestic inflation has declined since reaching a peak of 10.1% in February 2023, stabilizing at 3.4% in December 2023. It is expected to continue to slow down to 2.2% in 2024 and 2.4% in 2025.
The Council also highlights that lending rates stabilized in the last quarter of 2023, with a total increase of 112 basis points since the beginning of monetary tightening, compared to 150 points for the key interest rate.
Source: Al Bayane
Retirement Reform in Morocco: Executive Examines Scenarios
Minister of Economy and Finance, Nadia Fettah Alaoui, presented various possible scenarios for retirement reform on Tuesday, November 14, 2023. This reform is crucial to rescue retirement funds at risk of bankruptcy.
After a year of waiting, the government under Aziz Akhannouch seems determined to accelerate the retirement system reform, one of the most sensitive reforms of its term. This reform is essential to save retirement funds, which could face bankruptcy within a few years.
Source: L'Opinion
Data to Rescue Botola Pro D1: Analysis and Perspectives
Moroccan football shines on the international stage due to the exceptional performance of the national team, semi-finalists of the 2022 World Cup. However, concerns arise regarding the level of the national championship, Botola Pro D1, which seems to regress rather than progress.
The integration of data analysis in Moroccan football is imperative for the development and competitiveness of Botola Pro D1. By adopting a strategic approach and investing in appropriate technologies, Moroccan clubs can aspire to significant improvement in their performances, both nationally and internationally.
Source: Al Bayane
Gnaoua and World Music Festival Celebrates 25 Years of History
The Gnaoua and World Music Festival, one of Morocco's flagship events, celebrates its 25th anniversary with a rich and diverse program. From June 27 to 29, 2024, Essaouira will resonate with Gnaoua music, unique fusions, and performances by renowned international artists.
This 2024 edition will honor 34 maâlems (masters) of Gnaoua music during 53 concerts, including six explosive fusions. The opening concert promises an unprecedented encounter between Gnaoua rhythms, Brazilian Batucada, Spanish Flamenco, and the Ivorian Zaouli.
The festival will host numerous international stars this year, such as Palestinian rapper Saint Levant, American jazz trumpeter Randy Brecker, Spanish-Equatorial Guinean singer Buika, and the Algerian-Québécois group Labess.
Source: Les Inspirations Eco
Pentagon Approves Sale of Javelin Missiles to Morocco
The U.S. Department of State has approved the potential sale of Javelin missiles and related equipment to Morocco for an estimated value of 260 million dollars, as announced by the Pentagon.
Morocco has requested the purchase of 612 Javelin FGM-148F missiles, including 12 air-to-ground missiles, as well as 200 Lightweight Javelin Command Launch Units (LWCLU).
Javelin missiles are sophisticated portable anti-tank weapons designed to destroy enemy combat tanks and other armored vehicles. They are manufactured by Lockheed Martin and RTX Corp.
Morocco will use the Javelin missiles to enhance its long-term defense capability and protect its sovereignty and territorial integrity.
Source: Les Inspirations Eco
Artificial Intelligence in Audiovisual and Digital Industries in Morocco: Current Situation and Perspectives
As artificial intelligence (AI) revolutionizes various sectors, the High Authority of Audiovisual Communication (HACA) has examined its impact on the audiovisual and digital production industries in Morocco.
The unprecedented study titled "Artificial Intelligence and Audiovisual and Digital Production in Morocco: Effects of Technological Disruption," conducted by the "Regulation and Digital Media" task force led by Narjiss Rerhaye, provides an initial overview of the current situation and challenges.
- The impact of AI in these sectors
- The readiness of professionals to use these tools
- Paths for ethical use of AI
The study highlights that AI is poised to profoundly transform the professions in the audiovisual and digital sectors by automating repetitive tasks and opening up new creative possibilities.
Indeed, 67% of the professionals surveyed believe that their sector is not ready to face the advent of AI. This situation is attributed to a lack of training and resources, as well as cultural and ethical reservations.
Source: L'Economiste