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Business Finance Headlines Morocco

Remittances by Moroccans abroad hit record $10.7 bln

North Africa Post

Remittances by Moroccans abroad hit a record 100 billion dirhams ($10.7 bln) in 2021 compared to 70 billion dirhams in 2020, offsetting losses of the tourism sector, minister delegate in charge of investments said. Remittances have contributed to the consolidation of Morocco’s international reserves which rose to 330.4 billion dirhams ($35.7 bln), enough to cover […]
Africa Energy Finance Headlines International Morocco

American GE Vernova Joins Xlinks Morocco-UK Power Project

North Africa Post

American company GE Gernova has decided to join the Xlinks Morocco-UK power project with a $10.2 million investment injected in this ambitious project expected to produce affordable and clean energy. Once complete, the Project’s wind and solar generation, combined with flexible battery storage, is expected to supply 3.6 gigawatts (GW) and deliver approximately 8% of […]
Africa International

$1bn more needed to avert famine in Somalia by year’s end, warns UN

North Africa Post

At least US$1 billion will be needed urgently to avert famine in Somalia in the coming months and early next year, the UN humanitarian chief Martin Griffiths predicted on Tuesday (6 September). Speaking from Somalia’s capital Mogadishu, he said that, according to a new report from an authoritative panel of independent experts, there will be […]