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Remittances from Moroccans abroad to hit record level in 2022

Remittances from Moroccans abroad are expected to hit 11 billion dollars, a record level compared to 9.3 billion last year, the World Bank said in a recent report. Remittances are key to feeding Morocco’s foreign exchange reserves, which cover around 6 months of import needs, according to the central bank. Morocco, whose diaspora is mainly […]

Central Bank of Mauritania suspends Société Générale Mauritanie buyout by Burkina Faso-based Coris Holding

The Central bank of Mauritania, BCM, has reportedly suspended the acquisition of Société Générale Mauritanie, the subsidiary of Paris-based Société Générale, by Burkina Faso-based Coris Holding over an alleged fraud accusation leveled at Coris. Société Générale in June 2023 announced the sales of several of its subsidiaries in the southern Sahara including Mauritania. The bank […]

Alstom Invests over $10 Million to boost Morocco’s Rail Industy

French rail giant Alstom has announced an investment of over $ 10 million to boost Morocco’s multi-platform production line for train driver desks, giving a new impetus to the country’s railway industrial value chain. “Seeing this first global production line established within our AMECA region is a strong signal of the industrial momentum we are […]