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Economy


Morocco's Strategic Energy Move: Diversifying Sources with Russian Gas Imports

Morocco continues to strengthen its energy security by importing Russian natural gas, showcasing a strategic approach to its energy needs. Despite global geopolitical tensions and sanctions against Russia, the kingdom has maintained a steady supply of liquefied natural gas (LNG) from the country for......

EU's Declining Appetite for Moroccan Tomatoes: Imports Drop by 6.8%

The European Union's demand for Moroccan tomatoes has experienced a noticeable dip this season, with imports from the North African nation dropping by 6.8% compared to the previous year. This decline follows a record high in Moroccan tomato imports to the EU in 2022, marking the steepest decline......

Morocco's Central Bank Poised for Further Interest Rate Reductions in 2024

In a significant move that could reshape Morocco's economic landscape, Bank Al-Maghrib (BAM), the country's central bank, is expected to implement additional cuts to its policy rates during the latter half of 2024. This forecast, put forth by Fitch Solutions, suggests a continuation of the monetary......

EdfaPay Ventures into Moroccan Market, Expanding Global Footprint

EdfaPay, a prominent fintech firm based in Saudi Arabia, has announced the expansion of its operations into Morocco. This move comes after the company successfully secured the necessary regulatory approvals, marking another significant step in its global growth strategy. Founded in 2021, EdfaPay has......

EBRD's $40 Million Boost: Catalyzing Growth for North African Enterprises

In a significant move to bolster economic development across North Africa, the European Bank for Reconstruction and Development (EBRD) has announced a substantial $40 million investment in the newly established SPE REF III fund. This strategic financial injection, revealed on Thursday, underscores the......

The Ever-Evolving Landscape of Date Imports in Morocco

In a market that ebbs and flows with the rhythms of the seasons, Morocco remains a significant importer of dates during the 2023/2024 campaign, as revealed by the latest report from the specialized platform EastFruit. Despite robust figures, the Kingdom may witness slightly lower imports compared to......

Morocco Poised to Join Top Echelon of Global Wheat Importers in 2024

In a striking development, Morocco is set to become one of the world's top six wheat importers in 2024, according to a recent report from the United Nations Food and Agriculture Organization (FAO). This shift is a direct consequence of severe climatic conditions that have drastically reduced the......

Unraveling Gender Disparities: Morocco's Uphill Battle in the Global Gender Gap

In a stark reality unveiled by the World Economic Forum's Global Gender Gap Report, Morocco finds itself entrenched among the bottom echelons, occupying the 137th position out of 146 nations evaluated. This disheartening ranking places the North African nation in the company of countries grappling......

Bpifrance Unveils €100 Million Fund to Boost French Enterprises in the Maghreb Region

In a move aimed at facilitating the internationalization of French companies towards the Maghreb region, the public investment bank Bpifrance has announced the launch of a dedicated fund, following a promise made by President Emmanuel Macron. This initiative underscores the government's commitment......

Holged Expands Preschool Education Footprint with Acquisition of Kenzi Nursery

The Moroccan preschool education sector is witnessing a new dynamic as Holding générale d'éducation SA (Holged) acquires Crèche jardin d'enfants Kenzi SARL. This transaction marks a significant milestone in Holged's expansion, further strengthening its investments......

Tunisia's Fiscal Woes: Escalating Reliance on Domestic Borrowing

As Tunisia struggle with a deepening economic and financial crisis, the government has intensified its reliance on domestic borrowing to generate additional resources and fund the state budget outlined in the 2024 Finance Law. In a move that underscores the country's fiscal challenges, the Tunisian......