First Independent Mena Newspaper
The African Development Bank Group approved a €70-million financing facility for Bank of Africa Maroc (BOA) to promote access to financing African trade. The package comprises a €50 million Risk Participation Agreement (RPA) and a €20 million Trade Finance Line of Credit (TFLOC), the AfDB said in a press release. “The African Development Bank, rated […]
Morocco’s OCP group has selected Scottish mining technology Company Weir to provide energy efficient, sustainable solutions to the next phase of OCP’s Benguerir and Louta greenfield phosphate projects. Under a £25 million contract, Weir pledges to support the continued construction of the Louta project and the trebling of production from the Benguerir project, where Weir […]
Sahel States have lauded King Mohammed VI’s initiative aiming to facilitate their access to the Atlantic Ocean, as a “highly important strategy” for co-development and prosperity in the region and as a move that will help the Sahel states diversify their sources of access to the Atlantic. This came in a joint communiqué released following […]
A meeting held in London on Friday explored ways for Moroccan expatriates to make the most of the measures put in place by Morocco to increase their investments in their country of origin. Held under the theme “MDM Investments: New Challenges, New Financing, Institutional Responses,” the event is part of a series of conferences initiated […]
Morocco is developing its defense industry to reduce its dependence on foreign weapons purchases and strengthen its military capabilities to counter threats to its national security. After it adopted the legal frameworks governing military industry clusters and established military industry zones, the North African Kingdom attracted India ‘s “TATA Advanced Systems”, which has become one […]
Member countries of the Rabat Process on the African Atlantic States (AASP) praised, in New York, Morocco’s initiative and leadership in creating this coordination framework, which will help find appropriate solutions to mutual challenges. At a Ministerial Meeting of the Atlantic African States Process held on the sidelines of the ongoing 79th UN General Assembly, […]
Morocco’s economy is expected to grow by 2.9% in 2024, driven by a resurgence in manufacturing and tourism, according to the European Bank for Reconstruction and Development (EBRD). The EBRD’s latest regional economic outlook, released on Thursday, highlights the resilience of Morocco’s economy despite adverse weather conditions. “The recovery in manufacturing and tourism, bolstered by […]
The Moroccan government has launched a digital economy strategy that aims at creating 240 jobs by 2030. Head of the government gave the figure during the launch of the strategy which covers the training of 100,000 youth annually on digital economy jobs. the government has earmarked 11 billion dirhams ($ 1.1 billion) to the strategy […]
Egypt has unveiled its strategic objectives to scale up exports to over $140 billion by 2030 and secure annual foreign direct investment (FDI) inflows of $20 billion. “This is a realistic and achievable target,” Prime Minister Mostafa Madbouly said at a press conference on September 25. He emphasizing the feasibility of these economic milestones, highlighting […]
Moroccan port operator Marsa Maroc has signed a deal to start operating Benin’s Cotonou port terminals next month, a statement said. Marsa Maroc will operate terminal 1 and 5 in Cotonou’s port after winning an international tender issued by the company in charge of cargo handling, Société Béninoise des Manutentions Portuaires (SOBEMAP). Casablanca-listed Marsa Maroc […]