Economy
British energy company Chariot has commenced drilling operations at the Loukos Onshore license in Morocco, marking a significant milestone in its exploration efforts. Chariot, based in London, holds a 75% stake in the license, with the national hydrocarbons agency ONHYM owning the remaining 25%. Chariot......
Morocco's persistent trade deficit is showing signs of improvement as the cost of imports declines while exports continue to rise. According to the latest figures from the Office d'Exchange (OE), the trade imbalance contracted by 14% in March 2024, with import costs falling by 4% year-over-year......
OLA Energy Morocco, a leading energy company in Morocco and a significant player in Africa's energy sector, announced on Monday an expanded agreement with ExxonMobil Petroleum & Chemical BV to blend Mobil-branded lubricants in Morocco. Building on their existing partnership, this initiative......
In a remarkable display of the region's thriving fishing industry, the port of Tarfaya has witnessed a staggering 51% increase in coastal and artisanal fishing landings during the first three months of the current year. According to the National Fisheries Office (ONP)'s latest report on coastal......
In a groundbreaking initiative, the Directors General of the Caisse des Dépôts institutions from Morocco, France, Italy, and Tunisia came together on May 2nd at the Cassa Depositi e Prestiti headquarters in Rome. Khalid Safir, Eric Lombard, Dario Scannapieco, and Nejia Gharbi convened to......
The world of cryptocurrencies is about to undergo a significant shift as the French government prepares to introduce a new anti-fraud law aimed at undeclared crypto investments. This legislative move comes as authorities seek to address a growing concern: a considerable number of French crypto holders......
In a momentous stride towards catalyzing regional development, the Minister of Agriculture, Maritime Fisheries, Rural Development, Water, and Forests, Mohamed Sadiki, presided over the signing of three pivotal agreements between the National Agency for the Development of Oasis Zones and Argan Trees (ANDZOA)......
In a conference organized by the National School of Public Administration (ENSA), the Minister of Industry and Trade, Ryad Mezzour, underscored the paramount importance of harmonizing mechanization and digitalization as catalysts for enhancing the competitiveness of industrial enterprises. This strategic......
Morocco's export sector is undergoing a renaissance, driven by growth in key industries like automotive, aerospace, and electronics. This upward trajectory, along with declining imports, has narrowed the country's trade deficit, providing a significant boost to its economy. Data from the Moroccan......
Morocco's unemployment rate has surged to 13.7% in the first quarter of 2024, the highest level on record. This alarming increase is due in large part to a six-year drought that has severely damaged the nation's agricultural sector. Data from the High Commission of Planning reveals a labor market......
New car sales in Morocco reached 48,948 units during the first four months of 2024, representing a slight decline of 0.71% compared to the same period in 2023, according to the Moroccan Association of Automotive Importers (AIVAM). In terms of segments, new registrations for passenger vehicles (PV) decreased......
In a remarkable success story, Morocco has firmly established itself as a regional leader in the automotive industry, driven by sustained growth and an unwavering commitment to excellence. With more than 250 suppliers and equipment manufacturers, Morocco's automotive ecosystem has proven its resilience,......
Bank of Africa has announced a major update to its sustainability strategy, unveiling a revamped charter that aligns with the group's 2030 vision for responsible growth. This new strategy outlines five key pillars that will guide the bank's approach to sustainable practices in the coming years. Under......
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