Economy
In a striking development, McDonald’s outlets in Morocco have witnessed a dramatic 35% decline in customer visits over the past eight months, according to sources cited by local media. This significant drop underscores the multifaceted challenges the fast-food chain is currently grappling with,......
CIH BANK Unveils Innovative Remote Banking Service for Moroccan Expatriates In a groundbreaking move, CIH BANK has launched CODE 212, a cutting-edge remote banking service designed to cater to the needs of Moroccans living abroad. This innovative service allows users to open and manage bank accounts......
Despite facing a tapestry of challenges, Morocco's economy demonstrated resilience in 2023, achieving a 3.4% growth rate. This was detailed in the Bank Al-Maghrib's annual report, presented to King Mohammed VI on Monday. The report from Morocco’s central bank provided a comprehensive overview......
In a significant move that could reshape Morocco's economic landscape, Bank Al-Maghrib (BAM), the country's central bank, is expected to implement additional cuts to its policy rates during the latter half of 2024. This forecast, put forth by Fitch Solutions, suggests a continuation of the monetary......
In a landmark development, Morocco and the United Arab Emirates (UAE) have concluded negotiations for a comprehensive economic partnership agreement (CEPA), setting the stage for a new era of bilateral economic cooperation. Officials announced the finalization of the agreement's provisions on Monday,......
In a significant move to bolster water security, the Moroccan city of Dakhla has allocated nearly MAD 250 million ($25 million) for projects aimed at enhancing its potable water supply and wastewater management systems. This substantial investment was announced during a ceremony marking the 25th anniversary......
Morocco has embarked on an ambitious infrastructure project with the commencement of construction on a $139 million viaduct in Laayoune. This significant undertaking is a pivotal component of the Tiznit-Dakhla expressway project, designed to enhance connectivity and bolster the region's infrastructure. On......
In a recent statement coinciding with Morocco's Throne Day celebrations, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), extolled the nation's remarkable economic and social advancements under King Mohammed VI's stewardship. Georgieva's commendation......
A Year of Challenges and Triumphs In a year marked by significant adversity, Morocco's economy showcased remarkable resilience. Despite navigating inflationary pressures, severe drought, and the aftermath of a devastating earthquake, the North African nation recorded a notable 3.4% growth rate in......
In a significant development for Morocco's financial landscape, Islamic financing, known locally as participative financing, has experienced substantial growth in 2023. According to the latest report from Bank Al-Maghrib (BAM), the central bank of Morocco, the sector reached a total of MAD 21.4 billion......
Morocco's strategic focus on infrastructure over the past 25 years has been a cornerstone of its economic transformation and growth, according to a recent feature in the French geopolitical magazine, Revue Conflits. The article titled "Infrastructure and Economic Development: The Example of......
In a significant development, the Nigeria-Morocco Atlantic African Gas Pipeline project has gained renewed momentum following a series of high-level discussions in Rabat. Officials from twelve West African nations, key representatives from the Economic Community of West African States (ECOWAS), and Moroccan......
Groundbreaking Collaboration Between OCP and Fortescue Greenlit by Competition Council The Moroccan Competition Council has officially sanctioned the formation of a pioneering joint venture between OCP Green Energy SA, a subsidiary of Morocco's OCP Group, and Fortescue, an Australian enterprise......
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