morocco-au-executive council

Holmarcom take over of BMCI marks exit of the last French lender from Morocco’s retail banking sector

Moroccan conglomerate Holmarcom is set to deepen the shift toward local ownership in the kingdom’s banking sector with its planned acquisition of BMCI from France’s BNP Paribas, in a deal that underscores the exit of the last French bank from Morocco’s retail lending. After completion of regulatory requirements, Holmarcom plans to merge BMCI with Crédit […]

Morocco on Way to Become Africa’s Largest Military Power- Report

Morocco is set to increase its defense budget in support of the modernization process of its armed forces with a view of becoming Africa’s leading military power, Strategic Defence Intelligence said in a report. The report dubbed, “The Future of the Moroccan Defence Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2022,” underscores that […]

Morocco’s debt rating outlook stable at Ba1, Moody’s says

Moody’s Ratings has affirmed Morocco’s stable credit outlook at Ba1, saying the rating reflects Morocco’s institutional strengths and robust external position. “The stable outlook reflects our expectation that the government will pursue economic and social reforms to improve the economy’s resilience to shocks while keeping the debt burden stable,” Moody’s said. “We expect the government […]