First Independent Mena Newspaper
The Africa Atlantic Initiative, launched by King Mohammed VI, was presented on Thursday, June 27, at the Pan-African Parliament (PAP) during the meeting of the Trade, Customs, and Immigration Commission of the Pan-African legislative institution, holding the 3rd Ordinary Session of its 6th Legislature, from June 24 to July 5 at the institution’s headquarters in […]
Morocco and Turkey agreed to foster cooperation in the fields of mining and energy, including innovative fields such as green hydrogen. The deal was signed by Morocco’s energy minister Laila Benali and her Turkish peer Alparslan Bayraktar, who also agreed to cooperate on electricity distribution, decarbonization, and energy efficiency. The two parties also highlighted the […]
China’s Tenglong plans to set up a 6-million dollar plant in Morocco to manufacture key car air conditioning components, Chinese media reported. The project was approved by the board of Tenglong which plans to produce in Morocco aluminum tubes for car air conditioning, air-con pipe assemblies, and connecting pipes for heat exchange systems, Chinese news […]
Marsa Maroc will operate the container terminal at the deep-water port, Nador West Med for 25 years, Moroccan media reported. Marsa Maroc will have to invest 200 million dirhams ($20 mln) in the terminal which will have a capacity of 3.5 million containers, L’Observateur du Maroc et de l’Afrique reported. The terminal has a depth […]
Ethiopia attracted a staggering $3.3 billion in foreign direct investments (FDI) in 2023, surpassing its neighbors Kenya and Uganda, and hence has emerged as the leading destination for FDI in East Africa. The latest World Investment Report published by the United Nations Conference on Trade and Development (UNCTAD) has highlighted Ethiopia’s position as a beacon […]
Foreign investment flows to Africa dropped by 3% in 2023 to $53 billion, despite an increase in investments in green energy projects, the UN Conference on Trade and Development (UNCTAD) said. While Egypt and South Africa drove the overall investment trend in the continent, countries such as Morocco and Mauritania are expected to benefit from […]
Morocco’s central bank cut its borrowing rate to 2.75% from 3% as inflation drops thanks to lowering food prices and easing external inflationary pressures, the bank said following its board meeting. “On the basis of all these considerations, the Board considered that the calibrated tightening of monetary policy, the regular monitoring of the transmission of […]
The World Bank has approved $600 million funding to Morocco to enable the North African Kingdom finance two projects destined to improve public service and performance. The first project, which gets a $350 million support, aims to improve the governance, restructuring, competitive neutrality, and performance monitoring of state-owned enterprises (SOEs). The 2nd project, entitled “Public […]
Chariot energy Company has signed an agreement with Vivo Energy Maroc firm on future natural gas offtake from the Loukos Onshore license in which the British company holds 75% stake, while Moroccan National Office of Hydrocarbons and Mines (ONHYM) has 25 %. In a press release issued Monday, Chariot said the aim of the agreement […]
Worry grips Egyptian officials who fear a natural disaster as Ethiopia prepares to fill its giant Nile dam, the Great Renaissance Dam, for the fifth time, without any coordination with downstream countries, Egypt and Sudan. Egypt has for long expressed concern at the dam, while Ethiopia argues that the water-sharing deals signed under the colonial […]