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Economy
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......
In a striking display of economic resilience, trade between Israel and Morocco has experienced a remarkable surge, defying regional political tensions and public sentiment. Recent data from the Abraham Accords Institute reveals a 64% increase in bilateral trade during the first five months of 2024, reaching......
In a promising forecast for Morocco's economic landscape, Bank Al-Maghrib (BAM), the country's central bank, has unveiled projections that paint a picture of robust growth across multiple sectors. The standout prediction: remittances are expected to reach an unprecedented MAD 123.7 billion ($12......
In a decisive press conference on Tuesday, Bank Al-Maghrib Governor Abdellatif Jouahri delivered a sobering assessment of Morocco's readiness to transition to a flexible exchange rate regime. Despite notable macroeconomic progress, Jouahri emphasized that the nation's economic landscape, particularly......
In a significant move to bolster economic development across North Africa, the European Bank for Reconstruction and Development (EBRD) has announced a substantial $40 million investment in the newly established SPE REF III fund. This strategic financial injection, revealed on Thursday, underscores the......
In a significant move aimed at bolstering their economic and strategic ties, Morocco and Turkey have signed two pivotal agreements focusing on energy, earth sciences, and mining. The signing ceremony took place on Thursday in Rabat and featured Morocco’s Minister of Energy Transition and Sustainable......
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......
A wave of shock has rippled through the Moroccan exporting community following the authorities' recent backtracking on their commitment to allow the export of potatoes and onions to Africa under a quota system after Eid al-Adha. This abrupt policy reversal has left traders reeling and questioning......
In a groundbreaking assessment of global energy landscapes, the World Economic Forum's (WEF) "Fostering Effective Energy Transition 2024" report has thrust Morocco into the spotlight as the vanguard of clean energy adoption in North Africa. The kingdom's ascent to the 65th position......
As the early Moroccan fruit and vegetable season draws to a close, industry insiders report a complex landscape of challenges and opportunities that have shaped this year's export performance. Despite facing numerous obstacles, including European farmer strikes, unpredictable weather patterns, and......
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,......
Morocco’s Tourism Office (ONMT) Sets Ambitious Goals for 2024-2025 Season In a recent board of directors meeting, Morocco’s Tourism Office (ONMT) reiterated its unwavering commitment to enhancing the nation's global tourism appeal. With a strategic focus on aviation and distribution,......
In a significant monetary policy shift, Morocco’s central bank, Bank Al-Maghrib, has announced a 25 basis point reduction in its benchmark interest rate, bringing it down to 2.75%. This move, marking the first rate change in over a year, comes on the heels of a notable decline in inflation pressures......
