ALGERIA-DEFENCE-GRADUATION

Morocco’s Central Bank expects economy to shrink -5.2%, cuts rates to release liquidity

Morocco’s central bank cut the key interest rate from 2% to 1.5% to shore up the economy and reduced the reserve requirement for banks to 0% to release more liquidity. The Bank revised downwards its forecasts for 2020 to -5.2%, the lowest rate since 1996, compared with 2.5% in 2019, as the coronavirus impact and […]

Over 20% of Cigarettes Consumed in Maghreb are Illicit- KPMG Study

Illicit cigarettes accounted for over 20% of consumption across the Maghreb region in 2016. However successful prevention strategies have resulted in a 24% decline since 2015, said the Amsterdam based professional service and auditing company KPMG in a recent study. The study, dubbed “Illicit Cigarette Trade in the Maghreb Region,” shows the 13 billion smuggled […]

Russian GAZ Launches Sales of its Commercial Vehicles in Morocco

GAZ, a leading manufacturer of commercial vehicles in Russia, has started selling a range of commercial vehicles in Morocco, in cooperation with its new distribution partner, Africa Motors (Auto Hall Group). The group hopes to make of Morocco a platform to further develop its business in the rest of African countries. The first model put […]