Daily Press Review - Thursday, February 22, 2024

Water Stress and Energy Transition: IMF Urges Morocco to Take Bold Measures

The International Monetary Fund (IMF) has sounded the alarm over the worsening water stress in Morocco and calls for an acceleration of structural reforms to stimulate more inclusive and job-creating growth.

In the face of challenges posed by water stress and energy transition, the IMF urges Morocco to take bold measures.

The IMF emphasizes the urgency of addressing the issue of water stress, which could have severe impacts on Morocco's economic growth. The international financial institution calls for accelerated efforts to improve water resource management and ensure sustainable access to water for all.

Source: Le Matin du Sahara

e-Bourse.ma: Casablanca Stock Exchange Launches First Trading Simulator in Africa and Middle East

The Casablanca Stock Exchange is pleased to announce the official launch of e-Bourse.ma, a stock trading simulation platform mainly targeted at students. This first-of-its-kind platform in Africa and the Middle East aims to provide users with an interactive educational environment to refine their investment skills.

Developed by internal teams of the Casablanca Stock Exchange in partnership with TradingView, a global leader in stock market information, e-Bourse.ma is based on artificial intelligence and offers an interactive portfolio management simulator.

The platform is primarily aimed at students but is also accessible to anyone wishing to learn about financial markets.

Source: Le Matin du Sahara

Mr. Pedro Sanchez on a Working and Friendship Visit to Morocco

The Prime Minister of Spain, Mr. Pedro Sanchez, made a working and friendship visit to Morocco on Wednesday. Welcomed at Rabat-Salé airport by the Head of Government, Mr. Aziz Akhannouch, Mr. Sanchez was accompanied by the Spanish Minister of Foreign Affairs, Mr. José Manuel Albares.

This visit is part of the new dynamic of bilateral relations between the two Kingdoms, initiated by the meeting between His Majesty King Mohammed VI and Mr. Sanchez in April 2022. It aims to further strengthen Moroccan-Spanish cooperation in various areas of common interest, including security, migration, economy, and development.

Source: Al Bayane

Maghreb Oilseeds Meetings: 2nd Edition in Rabat to Build Sustainable Agriculture Amid Climate Change Challenges

The 2nd edition of the Maghreb Oilseeds Meetings (RMO) will be held on March 5 and 6, 2024, in Rabat, under the auspices of the International Development Association of the French Oil and Protein Plants Sector (Agropol) and the Interprofessional Federation of Oilseeds (FOLEA).

Under the theme "The Oilseed Sector: Lever for Resilience in the Face of Climate Change and Food Sovereignty Challenges in the Maghreb?", this edition will bring together participants from Morocco, France, Tunisia, and Algeria to exchange and analyze the crucial roles of these sectors in a context of climate change. The objective is to collectively build solutions for sustainable and resilient agriculture.

Source: Al Bayane

Nezha Hayat Re-elected as Head of AMERC for a Third Term

Nezha Hayat, President of the Moroccan Capital Market Authority (AMMC), has been re-elected as the head of the Africa and Middle East Regional Committee (AMERC) of the International Organization of Securities Commissions (IOSCO) for a third term. This re-election acknowledges Ms. Hayat's leadership and the important role played by AMMC in the development of financial markets in the region.

As President of AMERC, Ms. Hayat has committed to promoting cooperation and expertise sharing among regulators in the region. She has also worked on the development of international standards and best practices in financial market regulation.

Source: Aujourd'hui le Maroc

Regional Sports Conference in Tangier: Towards a Participatory Approach for Sports Leadership in the Region

The Council of the Tanger-Tetouan-Al Hoceima region is organizing regional sports conferences on February 24 in Tangier. Under the theme "A Participatory Approach for Sports Leadership in the Tanger-Tetouan-Al Hoceima Region," these conferences aim to highlight the new participatory approach adopted by the council to promote sports and will focus on two aspects:

- Sports infrastructure in the region
- Governance mechanisms in terms of financing support

These conferences are part of the new participatory approach adopted by the Regional Council to promote sports. This approach aims to involve all stakeholders in the sports sector, including sports associations, clubs, athletes, local communities, and institutional partners, in defining and implementing sports policies in the region.

Source: Aujourd'hui le Maroc

Combatting Child Marriage: CESE Proposes an Information System to Track Progress

The Economic, Social, and Environmental Council (CESE) has called for the establishment of an information system to monitor and evaluate progress in eradicating the practice of child marriage.

According to CESE, this information system should be fueled by a set of indicators aligned with children's rights and sustainable development goals. It should also include data on informal child marriages, divorces involving minors, abandoned married minors, and domestic and family violence against minor wives.

CESE has also emphasized the need to combat harmful practices against children by deploying various policies and public actions sustainably and integratively at national and territorial levels. This includes accelerating the implementation of the Integrated Child Protection Policy (PIPE) and developing and strengthening protection and social assistance systems.

Source: Liberation

OXFAM Raises Alarm: Inflation and Poverty Expanding in Morocco

Rampant inflation in Morocco is having a devastating impact on household purchasing power, already weakened by successive crises, warns the OXFAM NGO in its latest report titled "Inflation Champions."

The report reveals that an additional 3.2 million people have joined the ranks of disadvantaged populations and are now living below the poverty line, bringing the total number of poor people to approximately 11.5 million. This situation is exacerbated by the soaring prices of basic goods, resulting in an estimated increase in household expenses of 18,940 dirhams per year.

Inflation disproportionately affects low-income households, women, and youth, thereby widening socio-economic inequalities. The report highlights that rural populations and large families are also particularly exposed to precariousness.

Source: L'Opinion

Crowdfunding and Real Estate Acquisition: Government Clarifications

The government has provided clarifications regarding the modalities for granting public subsidies for housing within the framework of crowdfunding. This clarification was awaited by sector actors as purchasing real estate via the "Mourabaha" contract differs from the conventional operating mode of banks.

Since the codification of the operating mode of public housing assistance by the 2023 finance law and decree no. 2.23.350, the number of requests has exceeded 36,000, of which 20% come from the Moroccan diaspora. The "Mourabaha" formula, favored by crowdfunding supporters, has experienced particular success.

Source: L'Economiste

Rabat: Dissenting Elected Officials Increase Pressure on Mayor Asmaa Rhlalou

The standoff between Rabat Mayor Asmaa Rhlalou and nearly the majority of city council members is intensifying. After the rejection of the 2023 budget, 63 out of 81 elected officials have signed a request for an extraordinary session aimed at weakening her position and pushing her to resign.

The request, filed last Tuesday, was signed by opposition and majority elected officials, including those from the mayor's party, the RNI. This fact highlights the extent of the protest and the growing isolation of Mrs. Rhlalou.

Source: L'Economiste