Daily Press Review - Thursday, May 23, 2024
OCP and BERD Join Forces to Finance Construction of Seawater Desalination Plants
The OCP Group has secured a loan of 2.2 billion Moroccan dirhams (approximately 200 million euros) from the European Bank for Reconstruction and Development (BERD). This financing will facilitate the construction of two seawater desalination plants, aligning with the group's ambitious Green Investment Program.
Source: Aujourd'hui le Maroc
8ème Assises des Experts-Comptables: Responsibility, Independence, and Ethics at the Heart of Debates
Responsibility, independence, and ethics were the key themes at the 8th Assises of the Order of Chartered Accountants, held yesterday, Wednesday, May 22, in Casablanca. The event was marked by the signing of four agreements by the professional organization, including one with AMDIE focused on the standardization and certification of investment commitments.
Under the theme "The Chartered Accountant, a Trusted Third Party in the Service of the Economy," this eighth edition addresses two major imperatives. According to Faiçal Mekouar, President of the Order of Chartered Accountants, the first is the statutory duty of certifying accounts. The second stems from the increasing need for trusted intermediaries worldwide. "The quantification of the economy leads to a growing need for oversight, which states and regulators cannot fully meet. They therefore need intermediaries who provide a range of services from authenticating information producers to certifying information and validating its support," explains Mekouar.
For Nadia Fettah, Minister of Economy and Finance, current socioeconomic challenges, such as the complexity of economic transactions, increasing digitalization, and new governance and transparency requirements, call for close collaboration between the profession and public authorities. The goal is to further strengthen the role of the chartered accountant as a strategic advisor, facilitator of transformations, and catalyst for economic growth.
Source: L'Economiste
Casablanca: A New Transport Service to Mohammed V Airport
Great news for travelers and users of Mohammed V Airport! The city of Casablanca is set to launch a new bus service connecting the city center to the airport.
This new service, expected to be operational in the coming weeks, will allow passengers to reach the airport conveniently and comfortably. Four air-conditioned buses will run every 30 minutes, serving several key stops in the city, including Place des Nations Unies, Mohammed V Square, Casa-Anfa, Technopark, and Casa-Nearshore.
The fare for the trip is set at 50 dirhams, making it accessible to all budgets.
This new transport service is expected to ease traffic and relieve travelers who previously had limited options for getting to the airport. It is an excellent initiative by the city of Casablanca aimed at improving the quality of life for citizens and promoting the use of public transportation.
Source: L'Economiste
Morocco-Brazil Security Cooperation: A New Milestone Reached
Morocco and Brazil have reached a new milestone in their security cooperation by signing a memorandum of understanding on Tuesday, May 21, 2024. This agreement, signed by the Director General of National Security and Territorial Surveillance, Abdellatif Hammouchi, and his Brazilian counterpart, Andrei Augusto Passos Rodrigues, aims to strengthen bilateral collaboration and the exchange of experiences in this crucial field.
This memorandum of understanding is part of a dynamic of reinforced cooperation between the two countries, eager to tackle common security challenges. It specifically targets the fight against transnational organized crime, which takes various forms such as drug trafficking, terrorism, human and migrant trafficking, arms trafficking, money laundering, document forgery, and cybercrime.
Practically, the memorandum provides for the exchange of experiences in police training and capacity building. Both parties also commit to developing the exchange of information, technical means, and technologies. The cooperation will also extend to support in joint investigations and inquiries, as well as the identification of permanent contact mechanisms between the two institutions.
Source: Al Bayane
Saint-Gobain Maroc: 25 Years of Innovation and Sustainable Development
Saint-Gobain Maroc celebrated its 25th anniversary of establishment in Morocco today during a ceremony held at its headquarters in Aïn Sebaâ, Casablanca. The event brought together members of the group's general management, including Thierry Fournier, Deputy General Manager, Jean-Luc Gardaz, CEO Cluster Mediterranean, and other officials.
Since its arrival in Morocco in 1999, Saint-Gobain has experienced remarkable growth, establishing itself as a major player in the sustainable construction sector. The company has notably invested in automotive glazing production in Kenitra, plaster production through the creation of Lafarge Placo-Maroc, mortars under the Weber brand, and construction chemicals through the acquisition of Chryso-Aptex.
Today, Saint-Gobain Maroc operates nine production sites and employs over 1,000 people. The company actively contributes to Morocco's economic and social development, particularly through youth training and the promotion of sustainable construction.
With 25 years of success in Morocco, Saint-Gobain looks to the future with confidence. The company aims to continue its growth and consolidate its position as a leader in sustainable construction, contributing to the construction of a more sustainable and prosperous Morocco.
Source: Al Bayane
Economic Integration in Africa: An Imperative for a Prosperous Future
Inclusive economic integration is crucial for Africa's prosperity, declared Abdellatif Jouahri, Governor of Bank Al-Maghrib (BAM), at the opening of the 5th edition of the International Macroeconomics and Finance Days (JIMF) held in Dakhla from May 22 to 24 under the theme "Economic Integration in Africa: The Path to a More Prosperous Future."
Mr. Jouahri emphasized the growing awareness among African countries of the positive impacts of integration. Numerous initiatives have been launched, including the creation of Regional Economic Communities (RECs). He also highlighted the launch of the African Continental Free Trade Area (AfCFTA), a promising agreement due to its considerable potential benefits. Although estimates remain approximate, various evaluations of its impacts indicate substantial gains.
According to the International Monetary Fund (IMF) simulations, the implementation of AfCFTA, if accompanied by trade-facilitating reforms, could increase Africa's trade median with the rest of the world by 15% and with African countries by 53%. This would result in a more than 10% increase in the median GDP per capita.
Source: Le Matin du Sahara
She Industriel: An Ambitious Program to Boost Female Entrepreneurship in Moroccan Industry
The Ministry of Industry and Commerce and the Moroccan Association of Women Entrepreneurs (AFEM) have taken a significant step in promoting female entrepreneurship in the national industrial sector by launching the "She Industriel" program. Signed on Tuesday, May 21, in Rabat, this partnership agreement aims to realize the royal ambitions for women's empowerment and strengthen their economic leadership.
In line with the High Royal Guidelines and the objectives of Morocco's new development model, "She Industriel" aims to achieve a female activity rate of 45% by 2035. To do so, the program seeks to encourage and support the creation of businesses by women in various branches of the national industry.
"She Industriel" stands out for its multidimensional approach, accompanying women entrepreneurs at every stage of their journey. The program offers a range of tailored support measures to overcome obstacles and stimulate female entrepreneurial potential.
Source: Le Matin du Sahara
The National Investment Observatory 2.0: Towards an Effective Tool for Stimulating Private Investment
The Moroccan government is accelerating the establishment of the National Investment Observatory (ONI) to boost the private sector and contribute to job creation. The first meeting of the project's steering committee, attended by all stakeholders, defined the approach, objectives, and composition of this strategic structure.
Chaired by Mohcine Jazouli, Minister Delegate in charge of Investment, Convergence, and Evaluation of Public Policies, this first steering committee laid the foundation for a National Investment Observatory 2.0. Leveraging the latest technologies, including big data and artificial intelligence, ONI aims to become an effective tool for stimulating private investment.
The Observatory is part of the implementation of the High instructions of His Majesty King Mohammed VI, aiming to mobilize 550 billion dirhams of private investments and create 500,000 jobs between 2022 and 2026. These ambitious objectives, broken down at regional and sectoral levels, require effective coordination of efforts from all involved actors.
Source: Aujourd'hui le Maroc
INDH: 503 Projects and 183.7 Million MAD Invested in El Hajeb Province Between 2019 and 2023
The National Initiative for Human Development (INDH) has played a crucial role in the socio-economic development of El Hajeb province, contributing to the implementation of 503 projects and operations during its third phase (2019-2023). These projects, with a total budget of 183.7 million dirhams (MAD), have improved the living conditions of local populations and strengthened the province's infrastructure.
During a meeting held on Tuesday in El Hajeb to celebrate the 19th anniversary of the INDH under the theme "The First 1,000 Days are the Foundation of Our Children's Future," the province's Social Action Division revealed data showing the positive impact of the Initiative.
The INDH contributed 173.6 million MAD to the funding of these 503 projects, representing 94.7% of the total budget. This contribution demonstrates the strong commitment of the Initiative to human development in El Hajeb province.
Source: Les Inspirations Eco
Intelcia Launches u&ai: A Generative AI Platform to Revolutionize Customer Relations
Intelcia, a global leader in outsourcing, is taking a new step in its commitment to innovation by launching u&ai, its generative AI platform developed by E-voluciona by Intelcia, its Consulting & Innovation division. This revolutionary solution provides businesses with a smooth and authentic customer experience while optimizing the efficiency of customer relations operations.
In an increasingly competitive environment, companies seek to differentiate themselves and gain market share.
u&ai leverages the expertise of E-voluciona by Intelcia consultants, seasoned "field experts" familiar with the operational realities of customer service centers. This industry expertise is combined with cutting-edge generative AI technologies to deliver high-performing solutions tailored to the specific needs of each brand, its customers, and its advisors.
"Generative AI represents a natural step in the technological evolution we have continually integrated into our customer service centers since our inception," said Youssef El Aoufir, Deputy CEO of Intelcia. "The u&ai platform enhances our range of solutions and offers quick deployment with increased performance, allowing our clients to focus fully on their core business."
Source: Les Inspirations Eco