Economy
The United Kingdom has announced the appointment of Ben Coleman as the new trade envoy to Morocco and West Africa. This decision was confirmed by Jonathan Reynolds, the UK Secretary of State for Business and Trade. Coleman, a British Member of Parliament representing Chelsea and Fulham, will play a crucial......
Morocco's citrus industry has achieved remarkable success in 2024, establishing itself as a key orange supplier to the United States and European markets. After facing significant challenges in 2023, the country's orange exports have reached unprecedented levels. According to East Fruit analytics,......
Jorf Lasfar's industrial port, a cornerstone of Morocco's economy, has reached a significant milestone with the inauguration of the first production lines for Nickel Cobalt Manganese (NCM) used in Precursor Cathode Active Materials (PCAM). This development is driven by Cobco, a subsidiary of......
The Moroccan dirham demonstrated varied performance in foreign exchange markets during January 16-22, appreciating 0.6% against the US dollar while declining 0.5% against the euro, according to Bank Al-Maghrib (BAM). During this period, BAM reported no currency auction operations in the foreign exchange......
From January 16 to January 22, 2025, the dirham appreciated by 0.6% against the US dollar and depreciated by 0.5% against the euro, according to Bank Al-Maghrib (BAM). During this period, no foreign exchange auction operations were carried out, as highlighted in BAM's weekly bulletin. As of January......
In an ambitious move to bolster its energy sector, Morocco has announced plans to construct a new gas power plant with a capacity of 990 megawatts. The project, which is expected to cost approximately 4.15 billion Dirhams (around 420 million dollars), is set to play a crucial role in the country’s......
The European Bank for Reconstruction and Development (EBRD), in collaboration with the European Union (EU), has announced a €20 million loan to support young entrepreneurs in Morocco. The funding, provided in local currency, will primarily target micro, small, and medium-sized enterprises (MSMEs)......
Morocco’s banking liquidity deficit has seen a notable improvement, declining by 8.26% to reach MAD 136.8 billion ($13.4 billion) in January 2025. This shift underscores healthier financial conditions and provides the economy with greater flexibility to grow and adapt. According to BMCE......
Morocco and the European Union (EU) have reaffirmed their commitment to deepening cooperation in water management and sustainability initiatives. This pledge was highlighted during a recent visit by an EU delegation to the wastewater treatment station in Sidi Allal Tazi, located near Rabat. The delegation......
Morocco and Mauritania have taken a significant step toward enhancing their partnership in the energy sector by signing a memorandum of understanding focused on renewable energy and electricity cooperation. The agreement was signed in Rabat by Morocco’s Minister of Energy, Lelia Benali, and Mauritania’s......
Morocco will not subsidize green hydrogen initiatives unless they prove to be economically viable and capable of delivering renewable energy at competitive prices in global markets, according to Leïla Benali, the country’s Minister of Energy Transition and Sustainable Development. The minister......
Morocco’s Tanger Med Port has solidified its position as the Mediterranean’s largest port, achieving a historic milestone by handling 10.24 million containers in 2024. This represents an impressive 18.8% increase compared to the previous year, as reported by the country’s Press Agency......
AXA Assurance Maroc has announced the appointment of Gilles Fromageot as the new Chief Executive Officer of AXA Morocco and the AXA CIMA regions, which include operations in Cameroon, Côte d’Ivoire, Gabon, and Senegal. The appointment, pending regulatory approvals, is set to take effect on......
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