Economy
Portugal is considering an electrical interconnection with Morocco as part of its €400 million energy security plan, aiming to strengthen its power grid and prevent major blackouts like the one that affected the Iberian Peninsula in June. During a press conference on Monday, Portugal’s Minister......
Hyundai Rotem has expressed strong interest in contributing to Morocco’s comprehensive railway expansion under the country’s Rail Plan 2040. Jeong Hoon Kim, Head of Real Solutions at Hyundai Rotem, hailed Morocco's stable business environment and its growing appeal to foreign investors. Speaking......
OCP Nutricrops has announced a major milestone in its fertilizer production, surpassing five million tonnes of Triple Super Phosphate (TSP) fertilizer. This achievement is attributed to the company's innovative TSP Hub program, which operates at the Jorf Lasfar industrial platform in Morocco. Advancing......
Morocco’s central bank, Bank Al Maghrib (BAM), revealed a 2.7% decrease in non-performing loans (NPLs) at Moroccan banks, bringing the total to MAD 97.4 billion ($10.86 billion) in 2024. This marked a slight improvement in the loss rate to 8.4%, down 0.1 percentage points from the previous year,......
The microcredit sector in Morocco continues its upward trend, with total outstanding loans reaching 9.5 billion dirhams by the end of 2024, according to the latest report by Bank Al-Maghrib (BAM). This marks a 9.4% increase compared to the previous year’s growth of 4.2%. Over 98% of these loans......
Royal Air Maroc (RAM) has expanded its fleet with the delivery of two Boeing 737 MAX 8 aircraft, marking a significant step in the airline's growth strategy. The new planes, received on Thursday, are part of the company’s broader plan to modernize its operations and prepare for major international......
Morocco's trade exchanges with global markets recorded a notable increase of 6.3% in 2024, yet Europe retained its position as the country's dominant trade partner, despite a modest decline in its overall share. New data from Morocco’s Exchange Office reveals that European partners accounted......
Morocco’s fuel distribution market remains under the tight control of nine major companies, which collectively generated a net profit of MAD 2.3 billion ($230 million) in 2024, according to a newly released report from the Competition Council. Despite signs of market diversification, these distributors......
Morocco has taken a major step toward transforming its aviation sector with the signing of a $3.7 billion agreement to upgrade and expand the country’s airport infrastructure. The deal, signed by Prime Minister Aziz Akhannouch and the National Airports Authority (ONDA), outlines an ambitious five-year......
Morocco’s Industry and Trade Minister, Ryad Mezzour, has stirred debate by highlighting the vast wage disparity between Moroccan engineers and their European counterparts. While Moroccan engineers earn between €1,000 and €1,500 monthly, identical roles in Europe pay as much as €6,500.......
The number of bank cards in circulation in Morocco rose to 22.6 million in 2024, marking a 12% increase compared to the previous year, according to the latest annual banking supervision report released by Bank Al-Maghrib. Despite this significant growth, cash withdrawals remain the main use of these......
Vantage Payment Systems (VPS), a licensed payment institution accredited by Bank Al-Maghrib, has announced a strategic partnership with American Express to strengthen digital payment services in Morocco. This collaboration marks the first time American Express cards will be accepted for e-commerce transactions......
Europe continued to dominate Morocco’s foreign trade in 2024, accounting for 62% of total trade volume, down slightly from 63.2% in 2023, according to the latest annual report by the Moroccan Office of Exchange. European countries provided 56.4% of Morocco’s imports and received 71.4% of......
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