Economy
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 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......
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......
The Moroccan storage company SOMAS has officially unveiled its fourth butane gas storage cavity in the rural commune of Mohammedia, located 87.1 kilometers from Casablanca. This ambitious project, which represents a significant investment of MAD 400 million ($40.9 million), has substantially boosted......
Morocco has taken a significant step forward in modernizing its public transportation system, with taxi drivers across the country now equipped with innovative digital tablets that are revolutionizing the taxi experience. The company behind this transformation is Itechia, which recently launched the......
In a significant development in the ongoing saga of Morocco's sole oil refinery, the North African kingdom has decisively rejected a substantial $2.7 billion compensation claim brought forth by Saudi entrepreneur Mohammed Al Amoudi. This rejection comes on the heels of a concluded arbitration procedure......
EdfaPay, a prominent fintech firm based in Saudi Arabia, has announced the expansion of its operations into Morocco. This move comes after the company successfully secured the necessary regulatory approvals, marking another significant step in its global growth strategy. Founded in 2021, EdfaPay has......
In a significant move to enhance trade and investment across Africa, the Attijariwafa Bank Group and the African Continental Free Trade Area (AfCFTA) Secretariat have signed a memorandum of understanding (MoU). This agreement, inked during the 2024 Africa Development International Forum, promises to......
In a significant development that underscores the changing dynamics of the African banking sector, Morocco's Competition Council has given the green light for Saham Finances to acquire a controlling stake in Societe Generale Marocaine de Banques. This move, valued at over 8 billion Moroccan dirhams......
The Halal Morocco Forum explores the country's potential for significant growth in the global halal market. In a bid to bolster its position in the burgeoning global halal market, Morocco recently hosted the sixth edition of the Halal Morocco Forum in Casablanca. Abderrahim Taibi, director of the......
In Morocco, cherry prices have recently surged significantly, with costs reaching up to 80 dirhams per kilogram. This increase has been particularly evident in middle-class and popular marketplaces, and even more pronounced in high-end markets. The sudden rise occurred during the Eid al-Adha period,......
Akdital, a prominent name in Morocco's private healthcare sector, is set to significantly enhance its public share capital. The Moroccan Capital Market Authority (AMMC) has approved Akdital's ambitious plan to issue new shares, aiming to attract substantial public investment and bolster its growth......
As summer approaches, real estate developers anticipate a surge in demand to help clear their property inventories. However, a notable trend has emerged where savvy investors are capitalizing on developers' misfortunes by purchasing halted construction projects at bargain prices. These investors......
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