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. […]

Acwa Power confirms Final orders for construction of 1.2 MW wind farm in northern Morocco

Acwa Power Khalladi has completed final orders to suppliers and contractors, confirming that all financial conditions are met for the construction of a 1.2 MW wind power farm for a total cost of 1.7 billion dirhams ($173 million.) With this project, Acwa Power Khalladi, which is 75% owned by Saudi Arabia’s ACWA Power and 25% […]

Guinea: Hydropower plant could kill up to 1,500 chimpanzees

Sinohydro, the world’s biggest hydroelectric power plant construction company, and the Organization for the Promotion of the Senegal River (OMVS) have been awarded the construction of a hydropower plant in Koukoutamba, Republic of Guinea. The 294 MW Koukoutamba dam will be built in the middle of a newly declared protected area called the Moyen-Bafing National […]