Economy
The African Development Bank (AfDB) has launched a significant €1.26 billion (MAD 12.89 billion) investment package for Morocco, marking a substantial commitment to the Kingdom’s economic and social advancement. Since the start of 2024, the AfDB has unveiled nine strategic projects across......
British energy firm Sound Energy PLC has garnered approval from Morocco’s National Office of Hydrocarbons and Mines (ONHYM) for a 24-month extension of its Anoual exploration permits in Eastern Morocco. This development comes after the company had already secured an 18-month extension earlier this......
Morocco's economic landscape in 2023 painted a picture of resilience and adaptability, as the nation navigated through a complex web of global and domestic challenges. The World Bank's latest report sheds light on the country's economic performance, revealing a commendable 3.4% increase in......
Morocco is dedicating an impressive annual investment of MAD 18 billion ($1.8 billion) to upgrade its road infrastructure, according to Minister of Equipment, Nizar Baraka. The minister shared this information during a national symposium on road safety held in Rabat on Wednesday. Baraka emphasized that......
Morocco's economy is set for a significant rebound in 2025, according to two recent reports from the Moroccan High Commission for Planning (HCP) and the World Bank. These projections anticipate considerable growth driven by a recovery in the agricultural sector and sustained strength in non-agricultural......
Marsa Maroc has emerged as the selected concessionaire for Terminals 1 and 5 at the Port of Cotonou in Benin, following a rigorous international selection process managed by Benin Handling S.A. This decision represents a pivotal advancement in regional port management, allowing Marsa Maroc to extend......
In recent months, European farmers have protested against the increasing presence of Moroccan tomatoes, which have gained popularity among consumers. The controversy has escalated into a significant dispute, with Azura, a leading supplier of Moroccan cherry tomatoes to European markets, accusing French......
In a landmark transaction, the Moroccan government has sold its shares in the legendary Mamounia Hotel to the state-owned OCP Group for a sum of 1.7 billion dirhams ($173 million). This move signals a significant shift in ownership for Morocco's oldest and most illustrious hotel, celebrated globally......
Critical Mineral Resources (CMR), a UK-based mining company, has announced an exclusive option to acquire the Igli project, a high-grade silver and copper venture situated in the Anti-Atlas region of Morocco. This strategic acquisition marks a significant step for CMR as it expands its portfolio in one......
In a significant move to bolster its presence in the North African market, Renault Group has appointed Thibault Paland as the new Managing Director of Renault Commerce Morocco and Head of Dacia Maroc, effective July 1, 2024. This strategic decision underscores the French automaker's commitment to......
In a decisive move aimed at bolstering public health and economic stability, the Moroccan Ministry of Health and Social Protection has enacted a new decree to reduce the prices of over 100 medications. This policy change, documented as Decree No. 1447.24 and dated May 29, 2024, represents a significant......
In a landmark decision on Monday, the International Centre for Settlement of Investment Disputes (ICSID) dismissed the majority of claims brought by Corral Morocco Holding against the Moroccan state concerning the SAMIR oil refinery case. The ICSID awarded Corral a modest $150 million in compensation,......
In a display of remarkable economic fortitude, Morocco has emerged from the devastating Al-Haouz earthquake with its investor confidence largely unscathed, according to a recent report by the prestigious think tank Policy Center for the New South (PCNS). The September 8, 2023 earthquake, which registered......
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