Economy
In a move aimed at realigning the nation's energy subsidies, Fouzi Lekjaa, Morocco's Minister Delegate in charge of the budget, has clarified the government's stance on the recent price increase for butane gas cylinders. Speaking with a pragmatic tone, Lekjaa emphasized that the adjustment......
In a landmark move to bolster private sector financing and invigorate trade across the African continent, the African Development Bank (AfDB) and Banque Centrale Populaire (BCP) have inked a groundbreaking $70 million Risk-Sharing Agreement (RSA). This substantial financial commitment represents a global......
In a revelation that underscores the growing appreciation for locally manufactured goods, Morocco's Minister of Industry and Trade, Ryad Mezzour, disclosed a remarkable statistic during a parliamentary session on Monday. According to Mezzour, a staggering 62% of Moroccan consumers now prefer domestic......
British energy firm Chariot is expanding its exploration efforts by initiating drilling operations for the OBA-1 well in northern Morocco. This latest endeavor signifies a significant milestone in the company's ongoing campaign to uncover new energy resources in the region. The OBA-1 well targets......
In a proactive move to ensure a seamless transition during the upcoming butane gas subsidy reform, the Ministry of Energy Transition and Sustainable Development convened a crucial meeting in Rabat on Monday. The gathering brought together representatives from various sectors, including the Ministries......
Morocco's strategic geographical location, affordable labor force, abundance of raw materials, and renewable energy resources have positioned the North African nation as an emerging powerhouse in the electric vehicle (EV) manufacturing industry, raising concerns among its European neighbors, particularly......
In a significant step toward bolstering the Kingdom's capacity to swiftly respond to emergencies and provide crucial support to its citizens, Morocco and the World Bank inked the "Rapid Response Option" (RRO) agreement on Monday. This milestone signifies a deepening of the long-standing......
In today's increasingly globalized trade landscape, Morocco's Ministry of Industry and Commerce is strengthening its control over industrial product imports and actively invoking commercial defense mechanisms at the growing behest of economic operators. This approach aligns with the rules of......
The Ministry of Economy in Morocco has announced an impending price increase for gas cylinders, aiming to partially reduce the subsidy on butane cylinders for 2024. Effective from May 20, 2024, the cost of a 12 kg gas cylinder will rise by MAD 10, escalating from MAD 40 to MAD 50. Similarly, the price......
Electrical Components International (ECI) Morocco celebrated two significant milestones on Friday: the expansion of its industrial unit within the Tanger Med Industrial Platform and a decade of operations in the North African nation. The event brought together esteemed figures from the industrial sector,......
In a recent workshop focusing on the medical use of cannabis, experts revealed that Morocco's newly legalized cannabis production industry could contribute a staggering annual revenue ranging from $421.8 million to $632.7 million by the year 2028. This projection, shared by Mohamed El Bouhmadi, the......
The 2nd Business Forum organized by the Moroccan Business Association (IME) in Casablanca shed light on the development opportunities and job creation prospects presented by the 2030 FIFA World Cup. Discussions centered around strengthening economic partnerships between Morocco, Spain, and Portugal,......
In a pivotal move for Wafabail, the renowned financial institution, the Supervisory Board has unanimously appointed Mr. Karim Idrissi Kaitouni as the new President of the Executive Board. The decision was made during a meeting held on May 13, 2024, at Wafabail's headquarters in Casablanca, marking......
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