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Economy


Veteran Energy Executive James Humfrey Takes the Helm of Ambitious Morocco-UK Renewable Power Project

Global energy startup Xlinks has appointed veteran industry leader James Humfrey as Chief Executive Officer of its pioneering Morocco-UK Power Project. The $25 billion renewable energy initiative aims to supply 8% of Britain's electricity needs through an undersea cable system transporting solar......

Frozen Out: How Climate Shocks Chilled Morocco's Produce Exports in 2023

Morocco experienced a significant decline in frozen fruit and vegetable exports in 2023 due to adverse weather conditions and increased global competition. Data from EastFruit reveals that between January and October 2023, Morocco exported less than 70,000 tons of frozen produce, marking its weakest......

Enhancing Trade Connectivity: Launching a New Shipping Route in the Mediterranean

A forthcoming direct shipping service is poised to inaugurate next month, heralding a substantial uplift in trade prospects between Morocco, Libya, Tunisia, and Spain. According to a report by the Tunis Afrique Presse Agency (TAP), this specialized container route will seamlessly connect the bustling......

Moroccan Dirham's Stability Against Dollar, Euro Fluctuates Amid Central Bank's Weekly Auctions

The Moroccan dirham displayed a mixed performance against major foreign currencies last week, as per the latest data released by Bank Al-Maghrib (BAM), the country's central bank. While the dirham maintained its value against the U.S. dollar, it experienced a decline of 0.91% when measured against......

Addressing Persistent Inflation Amidst Soaring Food Prices in Morocco

In January 2024, consumer prices in Morocco surged by 2.3%, driven primarily by a notable 4.2% increase in the food price index compared to the same period last year, as reported by the High Commission for Planning (HCP). Despite a 0.6% month-on-month decline in the overall consumer price index (CPI)......

Accelerating Morocco's Reform Agenda: A Catalyst for Economic Growth

The International Monetary Fund (IMF) has urged Morocco to expedite the implementation of its structural reform program to bolster economic growth and ensure sustained fiscal stability. During a recent mission to Rabat, IMF officials, led by Deputy Director Roberto Cardarelli, acknowledged Morocco's......

Moroccan Entrepreneurship Soars: Over 93,000 New Businesses Emerge in 2023

Casablanca-Settat continues to lead the charge in entrepreneurial endeavors within Morocco, boasting nearly 29,000 of the country's remarkable 93,517 newly established businesses by the close of 2023. Data released by the Moroccan Office of Industrial and Commercial Property reveals that this surge......

Enhancing Morocco's Water Sector with a €400 Million Investment

Morocco, facing its most severe drought in decades, is set to receive a substantial financial boost from the European Bank for Reconstruction and Development (EBRD). This article discusses the implications of the EBRD's €400 million investment in upgrading Morocco's water infrastructure......

Advancements in Renewable Energy Propels Morocco Forward with a 2.4% Surge in Electricity Production

Morocco is making significant progress in bolstering its electricity production from renewable sources, marking a notable upswing in 2023. According to a recent report from the Directorate of Studies and Financial Forecasts, total electricity generation experienced a 2.4% increase last year, showcasing......

Strengthening Economic Bonds: Morocco and Mauritania Forge Ambitious Investment Plans

The burgeoning trade and investment relationship between Morocco and Mauritania have reached new heights, as diplomatic and business leaders from both nations gather this week to bolster economic cooperation.  According to figures released by the Moroccan Embassy in Mauritania, trade volumes between......

Pioneering Stock Trading: Casablanca Stock Exchange Unveils Cutting-Edge 'e-Bourse' Platform

The Casablanca Stock Exchange (CSE) is spearheading efforts to enhance financial education and inclusion in Morocco with the introduction of its groundbreaking e-Bourse digital trading platform. In a ceremony attended by senior government officials and financial leaders, the CSE formally unveiled this......

Spain Commits to Catalyzing Morocco's €45 Billion Development Endeavor

Madrid Throws Weight Behind Morocco's Green Ambitions In a bold move affirming its support for Morocco's ambitious green agenda, Spain has pledged substantial financial backing for the country's extensive €45 billion development masterplan, spanning until 2050. Spanish Prime Minister......

Aterian Unveils Promising Copper Discovery in Morocco's Rich Atlas Region

Aterian Plc, a critical metals developer headquartered in London, has recently announced a potentially significant copper discovery in Morocco. In a recent statement, the company revealed promising findings from its exploration activities at the Akka and West Tazalaght projects situated in the Atlas......