Press Review - Friday, May 17, 2024

Quality at the Forefront and Prices Slightly Up for 2024 Eid Al Adha Celebrations

Good news for faithful celebrating Eid Al Adha in Morocco this year! Despite challenging weather conditions, the sanitary quality of the livestock destined for slaughter is excellent, according to Majdoubi Abderrahmane, president of ANOC.

The supply will broadly meet national demand, with over 5.6 million sheep and goats expected by the time of the festival. Animal identification is progressing rapidly, with 4.3 million heads already identified.

However, there will be a slight price increase compared to 2023. In supermarkets and weekly markets, prices are expected to range between 70 and 75 dirhams per kilogram. Imported sheep, despite a state subsidy of 500 dirhams per head, will not be much cheaper, with prices announced around 63 dirhams per kilogram.

Despite these increases, the president of ANOC reassures the public. He urges hesitant breeders to identify their animals, emphasizing that this does not affect their eligibility for AMO or the 500-dirham social aid.

Source: Al Bayane

Digital Landscape in Morocco: Facebook Maintains Dominance, Instagram and TikTok on the Rise

The Groupement des Annonceurs du Maroc (GAM), in collaboration with H-in-Q and THOTH Consulting, recently unveiled the findings of a study on the latest digital trends in Morocco. This insightful study sheds light on the evolving online behaviors of Moroccans and the importance of data for effective marketing campaigns.

Facebook remains the indispensable social platform in Morocco, with an 80% penetration rate, albeit slightly decreasing. However, Instagram and TikTok are experiencing rapid growth, attracting more Moroccan users.

Influencer marketing, though less popular than in 2023, retains its allure. Millions of followers engage with Moroccan influencers, generating substantial revenues for brands.

E-commerce continues to thrive in Morocco, with 45% of internet users making online purchases. The fashion, electronics, and cosmetics sectors are particularly dynamic.  

Source: Al Bayane

High-Performance Batteries: Morocco Poised to Become Potential Global Hub

Morocco possesses all the necessary attributes to emerge as a major player in the high-performance battery industry for electric vehicles. This strong message resonated from the inaugural day of the 2024 International Chemistry Forum held in Rabat under the theme "Morocco, Future Global Hub of Chemistry: High-Performance Battery Industry."

Several factors advocate for Morocco's potential:

- Geographic, Political, and Economic Advantages: Morocco benefits from political and economic stability, a strategic geographical location, and a regulatory framework conducive to investments.

- Adequate Natural Resources: The country boasts deposits of phosphate and cobalt, two crucial raw materials for lithium-ion battery manufacturing.

- Clear Energy Positioning: Morocco is committed to renewable energies, with significant installed capacity in solar and wind, crucial for sustainable battery production.

- Mature Chemical Industry: Morocco possesses a robust chemical industry, with experienced players and recognized expertise.

- State and Private Sector Support: Moroccan authorities and private entities are committed to supporting the development of the battery industry through investments, incentives, and partnerships.

Source: Le Matin du Sahara

Cosumar Aims for Sugar Production in Mauritania: An Ambitious Project to Meet Growing Demand

Moroccan group Cosumar emerges as one of the leading contenders to develop a significant agro-industrial project for sugar production in Mauritania. This large-scale project, estimated at around 350 million dollars, aims to address Mauritania's increasing demand for sugar, as it stands as the top consumer in Africa.

Mauritania currently consumes approximately 200,000 tonnes of sugar annually, a figure expected to rise in the coming years. With no local production, the country relies entirely on imports to meet its needs, making Cosumar's project highly relevant.

Cosumar's project entails the construction of a high-quality refined sugar production plant, along with the establishment of sugarcane plantations. This integrated project will create thousands of direct and indirect jobs, contributing to Mauritania's economic development.

Cosumar is a leading Moroccan group in the agri-food sector, particularly in sugar production. The group already has a presence in sub-Saharan Africa, with subsidiaries in several countries. The Mauritanian project aligns with Cosumar's development strategy in Africa, aiming to become a major player in the sugar industry on the continent.  

Source: Le Matin du Sahara

Moroccan Tomatoes in France: Illegal Actions and Unfounded Accusations

French farmers blocked the A9 highway on Thursday morning and seized shipments of Moroccan tomatoes, sparking outrage among Moroccan professionals in the sector. This illegal and unjustified act jeopardizes commercial relations between Morocco and the European Union and unjustly questions the quality of Moroccan products.

According to a Moroccan industry professional, the actions of French farmers are "illegitimate and illegal." He emphasizes that Moroccan tomatoes meet all sanitary and phytosanitary standards required by the European Union. Morocco is recognized as one of the most reliable countries in terms of phytosanitary control.

French farmers accuse Moroccan tomatoes of unfair competition, citing "massive exports." However, export volumes are clearly defined by an agreement between Morocco and the European Union, and automatic taxes are applied when Moroccan exports risk harming local productions.

Moroccan professionals call for respect for the trade agreements between Morocco and the European Union. They denounce deceptive campaigns aimed at discrediting Moroccan products and reaffirm the quality and safety of their products.

Source: Les inspirations Eco

EBRD Grants Additional €10 Million Loan to Bank of Africa

The European Bank for Reconstruction and Development (EBRD) announced today the granting of an additional €10 million loan to the Bank of Africa (BOA) to support sustainable development-focused projects by Moroccan businesses.

This financing will enable BOA to expand its range of green financing products and support micro, small, and medium-sized enterprises (MSMEs) in their climate change mitigation and adaptation projects.

Source: Les inspirations Eco

Morocco Ventures into Gaming Industry with Grand Ambitions
Morocco positions itself as a major player in the rapidly expanding gaming industry. The organization of the first edition of the "Morocco Gaming Expo" from May 24 to 26 in Rabat is evidence of this. This major event, under the High Patronage of His Majesty King Mohammed VI, brings together key players in the sector from around the world to explore collaboration and development opportunities.

With an annual revenue of $120 million, the gaming industry in Morocco is experiencing rapid growth, surpassing other cultural and artistic industries. This dynamism has caught the attention of Moroccan authorities, who see this sector as a significant economic growth driver.

To stimulate the development of the gaming industry, Morocco plans to create a dedicated industrial zone. This initiative aims to attract international investments and position the country as a leading platform in this field, both on the African and international scales. The objective is to create 5,000 new jobs, including 3,300 direct ones.

Morocco is forging strategic partnerships with leading international players in the gaming industry. A recent meeting between the Minister of Youth, Culture, and Communication, Mohamed Mehdi Bensaid, and Young Mok Park, founder and CEO of Proxy Planet, a South Korean company active in the video game sector, is an example.

Source: Aujourd'hui le Maroc

Forest Fires in Morocco: 70% Decrease in 2023 Despite Unfavorable Weather Conditions

Morocco experienced a significant decrease in forest fires in 2023. Indeed, 6,426 hectares of forests were ravaged by flames, compared to 22,760 hectares in 2022, marking a 70% decrease. This positive trend is attributed to the combined efforts of various stakeholders involved in forest fire prevention and control.

The steering committee responsible for forest fire prevention and control, convened under the chairmanship of Abderrahim Houmy, Director General of the National Agency for Water and Forests (ANEF), praised this notable decrease. This performance is the result of a proactive strategy implemented by Moroccan authorities, involving the Ministry of the Interior, ANEF, local authorities, civil protection, the Royal Gendarmerie, the Royal Air Forces, the Royal Armed Forces, and the Auxiliary Forces.

Despite unfavorable weather conditions, characterized by scorching summers and episodes of extreme heat, Morocco succeeded in limiting the damage caused by forest fires. Compared to other countries in the Mediterranean basin, Morocco recorded significantly lower areas of forest burned, compared to Greece (175,000 ha), Italy (107,231 ha), Spain (101,184 ha), Algeria (73,725 ha), Portugal (43,049 ha), and France (27,872 ha).

Source: Aujourd'hui le Maroc