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Economy
Morocco has marked a significant milestone in its financial technology sector with the launch of the Morocco Fintech Center (MFC) in Rabat. The center's inaugural board meeting, chaired by Bank Al-Maghrib Governor Abdellatif Jouahri, signals a coordinated push to advance the country's digital......
Morocco's National Office of Railways (ONCF) has unveiled plans to achieve record-breaking numbers in 2025, targeting 57 million passengers and revenue exceeding $500 million (MAD 5 billion). The strategic blueprint aligns with Morocco's preparations for hosting major sporting events, including......
Morocco’s industrial sector is entering a new phase with the launch of heavy-duty truck manufacturing, following its success in the automotive and aerospace industries. This new initiative is a result of a partnership between Premium Group and Chinese manufacturer Shacman, marking a significant......
Unilever has inaugurated its new offices at Casablanca Finance City (CFC), marking a significant expansion of its presence in Morocco. This strategic move builds upon the company's century-long history in the country and demonstrates its ongoing commitment to the North African market. The establishment......
In a significant business migration trend, over 360 Spanish companies have relocated their production facilities to Morocco, according to a recent report by the Spanish Institute for Foreign Trade and Investment (ICEX). This strategic move appears to be driven by companies seeking to navigate European......
A recent survey by Morocco's High Commission for Planning (HCP) reveals a stark economic reality facing Moroccan households, with only 11.1% expressing optimism about their ability to save in the coming year. The overwhelming majority - 88.9% of families - see no possibility of building savings as......
Morocco is increasingly being recognized as a prime destination for investments in the critical minerals sector. In a recent statement, the Minister for Energy Transition and Sustainable Development, Leila Benali, highlighted the country's strategic position in the global market. Speaking at a roundtable......
Morocco's commitment to public investment has shown remarkable growth, with allocations rising from MAD 52.3 billion ($5.1 billion) in 2015 to MAD 119.2 billion ($11.6 billion) in 2023, according to Zineb El Adaoui, First President of the Court of Accounts. In her presentation to parliament's......
African nations are poised for significant economic transformation through the African Continental Free Trade Area (AfCFTA), with projections showing a potential 7% increase in continental GDP by 2045, equivalent to $450 billion in growth. The initiative aims to create a unified market across 54 states......
Moroccan scientist Rachid Yazami has obtained a new patent in China for his innovative safety technology designed to prevent internal short circuits in electric vehicle (EV) batteries. The patent, originally filed in May 2019, represents a significant advancement in battery safety technology. Yazami......
Spain and Morocco's bilateral trade has shown remarkable growth in the first ten months of 2024, according to recent data from the Spanish State Secretariat for Trade. Spanish exports to Morocco reached €10.843 billion, marking a 6.8% increase, while Moroccan exports to Spain grew by 9.1% to......
Morocco has solidified its position as Spain's primary source of fresh fruits and vegetables, with exports reaching EUR 801 million between January and October 2024. This represents a significant 13% growth compared to the same period in 2023, according to Hortidaily reports. Spanish fresh produce......
Religious pilgrims in Morocco are grappling with a dramatic increase in Umrah package costs, with prices soaring up to 50% compared to previous years. The price hike affects travel packages to the holy cities of Mecca and Medina during the spiritually significant months of Shaban and Ramadan. According......
