Economy
The Moroccan national economy showed a notable improvement in the fourth quarter of 2023, according to data released by the High Commission for Planning (HCP). Economic growth reached 4.1%, marking a significant increase compared to the same period in 2022, when it stood at 0.7%. Driven by domestic......
Morocco's aerospace industry continues its trajectory of growth, with exports showing a significant increase in the first two months of 2024. According to data provided by the Office des Changes, the sector's exports reached over 3.89 billion dirhams (MMDH), marking an impressive rise of 18.7%......
With a resolute commitment to fostering economic growth and investment opportunities across Africa, Attijariwafa Bank is set to host the 2024 edition of the International Africa Development Forum (FIAD24) in Casablanca on June 27th and 28th, under the theme "Here, we invest." Expected to draw......
In a strategic maneuver aimed at bolstering its foothold in North Africa, global technology titan Thales has named Yan Levy as the new General Manager for its Moroccan operations. This announcement, delivered via an official press release, underscores the company's steadfast dedication to aligning......
Morocco has been thrust into the global spotlight as one of the leading debtors to the International Monetary Fund (IMF), ranking 17th globally with a staggering $1.34 billion owed to the financial institution. This revelation, based on recent data analyzed by Insider Monkey, sheds light on the Kingdom's......
In the wake of violent confrontations between Moroccan taxi drivers and operators of app-based ride-hailing services, Minister of Transportation Mohamed Abdeljalil has stepped forward to confront the contentious issue of regulating the burgeoning ride-sharing industry. His remarks come amidst rising......
The European Bank for Reconstruction and Development (EBRD) has revealed an ambitious five-year strategy aimed at steering Morocco towards an inclusive, sustainable, and private sector-led economy. Covering the period from 2024 to 2029, this strategic roadmap signifies a significant moment in the EBRD's......
In a demonstration of its resilience and strategic foresight, Morocco's leading fertilizer producer, OCP, has announced a robust turnover of $9 billion (MAD 91.27 billion) for the fiscal year 2023. Despite grappling with challenges stemming from fluctuating fertilizer prices, the company's performance......
Tanger Med, the Moroccan port, has achieved a remarkable milestone by breaking into the top 20 busiest container ports globally, as per a recent ranking by maritime analysis firm Alphaliner. This accomplishment marks Tanger Med as the first African port to attain such prestigious recognition. Surpassing......
In a notable shift within the United Kingdom's tomato import market, Morocco has firmly established itself as the second-largest tomato supplier, surpassing its long-standing competitor, Spain. This achievement marks the third consecutive year that the North African nation has outpaced its European......
Amidst the lingering aftermath of the COVID-19 pandemic on the global economy, Morocco has surged ahead as a pivotal player in the textile industry, emerging as a favored destination for European businesses, notably Spanish companies aiming to diversify their supply chains. Spanish retail giant Inditex,......
In a stern warning, the African Development Bank (AfDB) has reiterated grave concerns over the escalating water scarcity crisis in Morocco, exacerbated by the adverse effects of climate change. The bank's latest report paints a grim picture, highlighting the far-reaching implications of this crisis......
In anticipation of the upcoming 2030 FIFA World Cup, Radisson Hotel Group, a global hospitality leader, is strategically expanding its presence in Morocco. With a vision to establish a robust foothold in the North African nation, the renowned hotel chain aims to introduce 25 new properties by the commencement......
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