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UK sets sights on Morocco’s £33bn public procurement pipeline for next 3 years

The UK looks to benefit from £33bn in public procurements planned in Morocco for the next three years, as the two countries foster their ties following London’s endorsement of the North African Kingdom’s autonomy plan as the “most credible” solution to the Sahara issue. During a high-level visit to Rabat, UK Foreign Secretary David Lammy […]

China’s Huayou mulls $20 bln EV battery investment in Morocco’s Sahara

Huayou, a Chinese manufacturer of electric vehicles battery materials, would invest 200 billion dirhams or $20 bln in a plant in Morocco’s region of Laayoune Sakia El Hamra in the Sahara, the regional investment center announced. A delegation of the Chinese group visited the region where officials introduced competitive attractions to help the company export […]

Moroccan banks report record profit in 2024

Moroccan banking activity improved in 2024 with major banks reporting record profits totaling $2.3 billion, a 21.3% increase compared with the previous year. The net profit attributable to shareholders rose by nearly 20% to 19.2 billion dirhams ($2 bln). The growth was spurred by the recovery in banking activity, cost reduction, and contained risk cost. […]