Daily Press Review - Wednesday, June 26, 2024

Marsa Maroc: Significant Organizational Changes

During the Ordinary and Extraordinary General Meetings of shareholders of the Société d’Exploitation des Ports Marsa Maroc, held on Tuesday, June 25, 2024, major decisions were made. The primary change concerns the company's governance structure, which will no longer be managed by a supervisory board and a management board but by a board of directors, according to an official company statement.

Additionally, the headquarters of Marsa Maroc has been relocated to a new address: "Angle boulevard Route d’El Jadida et Rue les Papillons, Casablanca." These changes required the adoption of new statutes by the Extraordinary General Assembly.

As a result of this governance evolution, the members of the supervisory board and the management board have ceased their functions. The following appointments were made: Fouad Brini as a director and chairman of the board of directors, and Tarik El Aroussi as the CEO of the company.

The Ordinary General Assembly also approved the financial statements for the year ended December 31, 2023, and decided to distribute a dividend of 8.5 dirhams per share, with payments starting on August 7, 2024.

Source: Le Matin du Sahara

Bank Al-Maghrib Reduces Key Rate to 2.75%: An Unexpected Economic Boost

Bank Al-Maghrib (BAM) has decided to reduce its key rate by 25 basis points to 2.75%, marking a turning point in its monetary policy after two years of stability.

This decision reflects the progress made in controlling inflation and aims to support still fragile economic growth.

The reduction in the key rate follows a prolonged period of monetary stability characterized by unchanged interest rates. This measure brings the key rate down to 2.75%, aligned with the recent decrease in inflation estimated at 1.5% for the current year. The goal is to facilitate access to credit and stimulate investment, essential for strengthening post-pandemic economic recovery.

BAM aims to boost non-agricultural sectors and revive household consumption. This decision is also influenced by the global economic context, marked by moderate growth, with a 3.4% increase in 2023. Moroccan exports, particularly in the automotive and phosphate sectors, are expected to experience significant growth, contributing to an economic growth forecast of 2.8% in 2024. However, vulnerability to external factors, such as climatic conditions affecting agricultural production, remains a risk.

Source: Le Matin du Sahara

Moroccan Tourism: Exceptional Performance and Promising Prospects

Moroccan tourism is displaying remarkable dynamism, as evidenced by the exceptional performances recorded in 2023 and the first half of 2024. This was highlighted during the board meeting of the Moroccan National Tourist Office (ONMT) held on Tuesday, June 25, in Rabat, under the chairmanship of Fatim-Zahra Ammor, Minister of Tourism, Handicrafts, and Social Economy.

Conducted within the framework of the strategic plan "Light in Action," the ONMT's policy has borne fruit, generating significant growth in the number of tourist arrivals. The figures are impressive: in 2023, Morocco saw a 34% increase in arrivals, a 35% rise in overnight stays, and a 12% boost in tourism revenues. This momentum continued in the first half of 2024, with a 15% increase in tourist numbers compared to the same period last year.

Buoyed by these encouraging results, the ONMT is looking to the future with ambition and determination. For the winter season of 2024-2025, the goal is to reach 4.3 million air transport seats, a 15% increase from the previous season. This proactive strategy aims to solidify Morocco's position as a premier tourist destination and contribute further to the country's economic growth.

Source: Les Inspirations Eco

Improvement of Business Climate: 44% of the 2023-2026 Roadmap Already Achieved

During a recent session at the House of Representatives, Mohcine Jazouli, Deputy Minister for Investment, announced that 44% of the initiatives in the strategic roadmap to improve the business environment for the 2023-2026 period have already been implemented. Launched since last March, these initiatives include the simplification of administrative procedures, the promotion of transparency in public markets, and the facilitation of business creation through electronic platforms.

Mohcine Jazouli also highlighted that 70% of the 46 priority initiatives of this roadmap have been launched so far. These efforts are supported by decrees aimed at regulating the timeframes for issuing necessary documents for investment projects, as well as modernizing the processes for business support electronically.

Regarding the reform of Regional Investment Centers (CRI), Jazouli called for reflection on their role and positioning to make them key players in encouraging regional investment. He emphasized the importance of mobilizing the necessary resources to enhance their effectiveness and impact.

In parallel, the Moroccan government aims to attract 550 billion dirhams of private investment and create 500,000 jobs by 2026, with projects worth 173 billion dirhams already approved by the National Investment Commission. These initiatives are part of a broader approach to improve governance and promote Morocco's economic offer both nationally and internationally.

Source: Les Inspirations Eco

Inauguration of a Digital Innovation Center in Berkane

As part of the National Initiative for Human Development (INDH), a Digital Innovation Center valued at a total of 5.3 million dirhams was officially inaugurated in Berkane. The event took place on Monday in the presence of the governor of the province, Mohamed Ali Habouha, along with several officials and local elected representatives.

The primary objective of this new center is to democratize access to coding and accelerate the acquisition of essential digital skills. It also aims to bring young people from vulnerable backgrounds closer to digital professions, thus contributing to their integration into the burgeoning digital economy.

This initiative is part of a broader effort to support Morocco's digital transformation and strengthen local capacities in information and communication technologies (ICT). It demonstrates the government's continued commitment to promoting digital inclusion and creating opportunities for young people across the country.

The center will offer specialized training programs and modern infrastructure to support participants in their journey toward digital employment and entrepreneurship, representing a significant step toward an inclusive digital future for all.

Source: Aujourd'hui le Maroc

CIH Bank Strengthens Its Commitment to Equity and Inclusion

CIH Bank is steadfastly pursuing its commitment to financial inclusion and the economic empowerment of women through a series of concrete initiatives. Recently, the bank signed a Gender Charter, affirming its support for the principles of diversity and equal opportunities.

This charter, approved by the Executive Committee of CIH Bank, represents a decisive step in promoting professional equity and inclusion within the institution. It actively encourages all leaders and employees to integrate these principles into their daily decisions, underscoring the strategic importance of this approach to achieving sustainable development goals, particularly the UN's Goal No. 5 on Gender Equality.

"Faithful to its civic commitment, CIH Bank is determined to contribute to progress in gender equality," said a bank spokesperson. "We firmly believe that professional equity enhances our collective capacity to innovate and invigorate our institution economically."

Alongside the signing of this charter, CIH Bank continues to roll out initiatives for financial inclusion and economic empowerment of women. These efforts include the launch of products and services specifically designed for its female clientele, as well as the promotion of women's entrepreneurship through support, training, and financing programs.

Source: Aujourd'hui le Maroc

AKDITAL Inaugurates the Ibn Nafis International Hospital in Marrakech: A New Era for Cancer Treatment in the Region

The AKDITAL Group inaugurated the Ibn Nafis International Hospital in Marrakech on Monday, marking a significant advancement in oncology care. This modern facility, with 100 beds, was officially opened in the presence of Farid Chourak, the governor of the Marrakech-Safi region.

The Ibn Nafis International Hospital stands out for its expertise in advanced cancer treatments such as chemotherapy, targeted therapy, immunotherapy, radiotherapy, and brachytherapy. In addition to these specialties, it offers cutting-edge services in hematology, bone marrow transplantation, oncological surgery, radiology, nuclear medicine, biology, senology, and endoscopy. Two specialized intensive care units in oncology and hematology are also available.

Jaouad Zakaria, Vice President of the AKDITAL Group, emphasized that this inauguration is part of the national dynamic of modernizing the health sector and democratizing access to care. He also highlighted the group's expansion strategy, underscoring its commitment to establishing hospital infrastructures that meet the highest international standards.

The Ibn Nafis International Hospital is equipped to meet the urgent needs of patients with a 24/7 operational emergency service. It features two state-of-the-art radiotherapy machines (Halcyon and EDGE), 41 chemotherapy chairs, 8 multipurpose intensive care boxes, and 6 ultramodern operating rooms. This advanced technology enables the qualified medical team to offer high-quality, personalized, and comprehensive care to cancer patients.

Source: L'Opinion

Bayt Al-Maqdis: A New Research Center for the Palestinian Cause Opens in Rabat

A new research center dedicated to the study of the history of Jerusalem and the Palestinian cause was inaugurated on Monday in Rabat. The Center for Research and Studies "Bayt Al-Maqdis," which means "House of the Holy City" in Arabic, aims to promote academic research and cultural exchanges between Morocco and Palestine.

The inauguration ceremony took place at the headquarters of the Bayt Mal Al Qods Acharif Agency, attended by a high-level Palestinian delegation and the Moroccan Minister of Youth, Culture, and Communication, Mohamed Mehdi Bensaid.

Minister Bensaid highlighted the importance of this new center for promoting research on Jerusalem and the Palestinian cause. He also reaffirmed Morocco's solidarity with the Palestinian people in their struggle for independence and the creation of a sovereign state.

Meanwhile, the Palestinian Minister for Jerusalem Affairs, Ashraf Al-Aawar, praised the opening of the "Bayt Al-Maqdis" Center and thanked Morocco for its continued support for the Palestinian cause.

Source: Liberation