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Economy
The Alshaya Group has unequivocally refuted recent reports suggesting a potential withdrawal from Morocco. Responding in writing, the organization dismissed rumors surrounding the possible closure of Starbucks coffee shops and H&M ready-to-wear outlets. The group's spokesperson emphasized an......
The group of architects led by Tarik Bouhmala and Abdelkrim Bouyacoub has been chosen to undertake the expansion of Tangier airport, a project commissioned by the National Airports Office (ONDA). This project encompasses the construction of a new passenger terminal and control tower at Tangier Ibn Batouta......
In a testament to the unwavering commitment of Moroccans residing abroad (MRE) to their homeland, the Office des Changes reports a notable milestone in fund transfers. As of the end of October 2023, remittances from MREs have surged to approximately 96.43 billion Moroccan Dirhams, marking a remarkable......
In a strategic move to fortify its financial structure, OCP Group, the giant phosphate producer, has obtained approval from the Moroccan Capital Market Authority (AMMC) for a perpetual subordinated bond issuance. This issuance, valued at 5 billion Moroccan Dirhams (MAD), includes options for early repayment......
After experiencing a robust growth rate of 7.5% in 2022, the expansion of banking credit in Morocco has slowed down to 4.9% by the end of October 2023. This deceleration is attributed to a 3.8% decline in cash facilities, marking a notable contrast to their significant surge over the past three years.......
In a groundbreaking move towards digital innovation, BMCE Capital Bourse has unveiled its latest feature, enabling clients to subscribe entirely online. This enhancement is launched in conjunction with the initial public offering (IPO) of CFG Bank, where BMCE Capital Bourse serves as the co-lead manager. Revolutionizing......
Moroccan Minister of Industry and Trade, Ryad Mezzour, declared in Tangier on Wednesday that the country's electric infrastructure is poised to become the most integrated and competitive globally. This announcement was made during the inauguration of the 7th Automotive Subcontracting Show, a prestigious......
In a collaborative effort aimed at fostering stronger economic ties, Kenya and Morocco are actively working together to facilitate the reopening of a direct air route between Casablanca and Nairobi, as reported by insider sources. Although this route was briefly operational in the past, it is currently......
In 2023, Forsa, a Moroccan government initiative promoting youth entrepreneurship, has successfully incubated 11,200 project proprietors, as announced by the Ministry of Tourism, Handicrafts, and Social and Solidarity Economy on Wednesday. According to the ministry's statement, the program has significantly......
TotalEnergies is making a strategic move by investing £20 million to acquire a minority stake in Xlinks First Limited, a UK-based company founded in 2019. This places TotalEnergies alongside investors Octopus Energy and Abu Dhabi National Energy Company (TAQA). Xlinks aims to develop an extensive......
The International Atomic Energy Agency (IAEA) has identified Morocco as one of several countries with the potential to develop nuclear power capabilities in the coming years. In a presentation on Tuesday, IAEA Director General Rafael Grossi named Morocco alongside Ghana, Kenya, Nigeria, Namibia,......
Tuesday witnessed a surge in oil prices prompted by supply uncertainty, further exacerbated by reports of production disputes among OPEC+ members for the upcoming year. Brent crude, the international standard, was priced at $80.50 per barrel at 11:40 a.m. local time (0840 GMT), reflecting a 0.79% increase......
Morocco stands at the forefront of establishing new Special Economic Zones (SEZs) and attracting foreign direct investment (FDI), particularly in higher value-added technological industries. A recent report by Oxford Business Group, titled "How Special Economic Zones are shaping Africa's industrial landscape,"......
