Economy
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......
In a strategic move to bolster their market presence, Crédit du Maroc and AtlantaSanad Assurance have entered into a bancassurance partnership. This collaboration aims to expand the range of insurance and savings products available to both individual and business clients of Crédit du Maroc,......
Fouzi Lekjaa, Morocco’s Minister Delegate for Budget, recently attended a pivotal meeting at the General Confederation of Moroccan Enterprises (CGEM) headquarters in Casablanca. The gathering focused on key economic issues, including the 2025 Finance Law, preparations for the 2030 World Cup, and......
Tanger Med Port Authority has announced an impressive 18.8% increase in container traffic for 2024, solidifying its position as a leading hub in global maritime trade. The port processed over 10.24 million twenty-foot equivalent units (TEUs) last year, marking a significant leap from its 2023 performance.......
Morocco's ambitious transportation infrastructure plan will inject MAD 96 billion ($9 billion) into railway upgrades by 2030, Transport and Logistics Minister Abdessamad Kayouh announced in Rabat. The comprehensive initiative aims to dramatically expand the nation's rail connectivity while modernizing......
German manufacturing company Leoni has inaugurated a new automotive wiring systems factory in Agadir, Morocco, representing an investment of MAD 230 million. The facility, situated in the Souss-Massa industrial acceleration zone, was officially opened on Tuesday under the supervision of Moroccan Prime......
Morocco's fuel sector demonstrated mixed performance in the third quarter of 2024, with total fuel imports reaching 1.7 million tons valued at $1.26 billion, marking a 10.8% volume increase despite a 9.75% value decline compared to 2023. The revenue of Morocco's nine major fuel distributors......
Morocco and Mauritania are preparing to sign a significant memorandum of understanding for electricity connection between the two nations, according to Morocco's Minister of Energy Transition and Sustainable Development, Leila Benali. The agreement, set to be finalized during the Mauritanian Energy......
A significant milestone in Morocco's logistics infrastructure development was reached as the Agadir Atlantic Hub dry port project secured a $140 million investment. The groundbreaking protocol agreement was signed on January 20 in a ceremony overseen by Morocco's Head of Government, Aziz Akhannouch. Located......
Morocco’s exports of goods and services are projected to grow by 7.7% in 2025, building on a robust 7.9% increase in 2024, according to the latest report from the country’s Forecasts and Statistics Office (HCP). The growth is attributed to sustained international demand, particularly in the......
In 2024, trade between Morocco and Brazil saw a growth of 4.52%, reaching a total of $2.77 billion compared to $2.65 billion in 2023, according to the Arab-Brazilian Chamber of Commerce. This increase demonstrates a notable boost in bilateral relations, with a slight trade surplus of approximately $2.2......
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