bcij

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 […]

EV Battery: Morocco to Host Africa’s 1st Gigafactory, Attracting over $ 6.5 Bln Investment

Gotion High-Tech, a Chinese electric vehicle battery giant, will inject over $ 6.5 billion in a gigafactory in Morocco. It will be the first in Africa, creating more than 25 000 jobs and strengthening the country’s leading position in the automotive industry. The announcement of this EV battery industrial eco-system was made Thursday in Marrakesh […]

Moderate Islamist Party Faces ‘Mission Impossible’ to Form Government Coalition

Morocco’s parliamentary elections unfolded with the incumbent moderate Islamist party, Justice and Development (PJD) coming first followed by liberal Authenticity and Modernity Party (PAM) in a tight electoral race that makes government coalition formation an uphill battle for the PJD. A coalition between the PJD with 125 seats followed by the PAM with 102 seats […]