Utac Ceram

France’s Société Generale to sell its business in Morocco – media reports

France’s Société General plans to sell majority stakes in its Morocco banking activity to Saham, Moroccan media reported. Saham, owned by former industry minister Moulay Hafid Alamy, had reached a deal to buy 57% stake in the French subsidiary bank, Le360 said in an exclusive. The transaction to buy the fourth largest universal bank in […]

Motherson inaugurates new interior modules plant in Morocco

Motherson has inaugurated a new facility in Tanger Med Industrial Platform, Morocco, replacing the existing Tétouan site, which was established in 2010. According to a press release from Motherson, this new facility is a part of its Modules and Polymer Products division and will produce interior modules and components like instrument panels and door panels […]

S&P Downgrades Senegal’s Credit Rating from B- to CCC+ Amid Persistent Default Risks

Standard & Poor’s has downgraded again the credit rating of Senegal from B- to CCC+, deepening the country’s position in junk territory amid the $ 7 billion hidden debt scandal and the $ 747 million borrowed secretly by Dakar through Total Return Swaps (TRS) to keep up appearance and hide its alarming financial situation. The […]