Morocco: Banking deposits surge 72% over a decade reaching $120 billion

Banking deposits in Morocco have experienced consistent growth over the past decade, reaching 1.271 trillion dirhams ($120 billion) in 2024 compared to 740 billion dirhams in 2014, representing a remarkable 72% increase. Bank Al-Maghrib monetary statistics confirm this robust upward trajectory, with deposits surpassing the one trillion-dirham milestone in 2020. The growth pattern demonstrates strong […]

Drought worsens Morocco’s unemployment rate to 13.1%

Morocco’s unemployment rate surged to 13.1% on the back of persisting drought in the first half this year, compared with 12.4% the same period last year. Youth unemployment, in particular, soared to 36%, with 19% reported among degree holders, the high commission for planning HCP said. The total number of the unemployed in Morocco grew […]

Russia’s rebranded Wagner makes deeper inroads into Africa under ‘security for resources’ blueprint

Following the demise of its former boss Yevgeny Prigozhin and with a new leader at its helm, the infamous paramilitary Wagner Group is back in the game, helping the Kremlin to strengthen Russia’s presence in Libya and other parts of Africa. Years of civil war and chaos, the devastating flood, the absence of a democratic […]