Morocco poised to become nearshoring hub for German high-tech services

Morocco is becoming a more attractive nearshoring destination for German companies facing a structural shortage of skilled labor, according to a new assessment by Germany Trade & Invest (GTAI). The agency says Morocco is moving beyond traditional offshoring and gaining credibility as a base for higher-value digital and engineering services. The country’s offshoring sector already […]

Automotive equipment: EBRD Grants Novares Morocco a €16.5 million Loan

The European Bank for Reconstruction and Development (EBRD) has granted Novares Morocco, the Moroccan subsidiary of the French automotive supplier Novares Group, a €16.5 million loan. The amount will be used to finance the Novares project in Morocco, supplying the plants of Peugeot PSA in Kenitra and of Renault in Tangiers. The funds will also […]

Oil exploration: UK Genel Company signs association deal with Morocco

British company Genel Energy announced a petroleum agreement and association contract sealed with the Office National des Hydrocarbures et des Mines (ONHYM) for offshore exploration in Lagzira block in Morocco. The deal sets out an eight-year exploration term consisting of three phases. The Lagzira block (formerly Sidi Moussa) is a large offshore license that hosts […]