Morocco’s Somagec to develop power link between Angola, DRC

Moroccan company Somagec has signed a preliminary deal to build a power link between Angola and the Democratic Republic of Congo (DRC), for $1.3 billion. The project will bolster the integration of the region’s energy market, in an area where access to electricity is still low. The high-voltage transmission lines will also enable Angola to […]

Stolen Multimillion-Euro Baroque Painting Found in Morocco

Moroccan authorities recovered a stolen 17th century Baroque Italian painting worth up to six million euros and informed Italian authorities. Italian paper Gazzetta di Modena reported that the painting by Giovanni Francesco, known as Guercino, had been stolen from a church in the northern Italian city of Modena in 2014. It could have been recovered […]

Morocco rules out drawing on IMF credit line, eyes gradual currency reform

Morocco has no plans to tap funds available under its Flexible Credit Line (FCL) arrangement with the International Monetary Fund, Finance and Economy Minister Nadia Fettah Alaoui said. The IMF approved a new two-year FCL agreement for Morocco on April 2, 2025, worth 3.45 billion Special Drawing Rights (SDRs), or about $4.5 billion, replacing a […]