Morocco’s Central Bank calls for more vigilance vis-a-vis public debt

Morocco’s central bank has called for more vigilance concerning public debt to spare future generations the pain of structural reforms. The statement was made by central bank governor Abdellatif Jouahri following a board meeting that kept the key interest rate unchanged at 2.25%. He said the current rate remains appropriate and dismissed calls for a […]

OCP Revenues Grow 15% in H1 2018

Morocco’s phosphates company saw its revenues grow by 15% in the first half of the year to 26,599 million dirhams ($2.86 billion). Revenues increased from 23,152 million dirhams last year as the company continues to invest in Africa where it plans the setting up of fertilizer plants in Ethiopia and Nigeria. “This sales growth was […]

Moroccan Attijariwafa Bank, Japanese Sumitomo Corporation Team up for Africa’s Development

The Moroccan banking group, Attijariwafa bank, and the Sumitomo Corporation Europe Limited, one of the branches of the Japanese giant, have signed recently a memorandum of understanding, under which they agreed to establish a long-term partnership for the implementation of major development projects in Africa. The memorandum seeks to promote cooperation between the two groups […]