First Independent Mena Newspaper
Morocco’s Mohammed VI Investment Fund and Moroccan banks (GPBM) signed a deal to allow private investors access to subordinated debt. The fund said it will allocate 4 billion dirhams to this financing mechanism that will be available starting from April. The new launched subordinated debt targets enterprises with a capitalization of 5 to 500 million […]
Somalia has finished the process of becoming a fully-fledged member of the East African Community (EAC) after it has ratified the accession treaty to an economic bloc that has some of Africa’s rapidly growing economies. Somalia joined Kenya, Tanzania, Uganda, the Democratic Republic of Congo, Burundi, Rwanda, and South Sudan, as part of the exclusive […]
The President of the United Nations General Assembly, Dennis Francis, has designated Morocco’s Ambassador to the United Nations, Omar Hilale, to co-facilitate the UN negotiation process relating to the modalities and the Political Declaration of the World Social Summit dubbed “Second World Summit for Social Development” which will take place in 2025. Hilale will conduct […]
Spain, which is one of Morocco’s key economic & political strategic partners, looks forward to the railway projects launched by the North African Kingdom to meet growing demand. “Morocco has just launched projects to develop its rail network and Spain is ready to contribute to these projects”, said Spanish Transport minister Oscar Puente Santiago following […]
Morocco’s biggest mining company Managem plans to raise 3 billion dirhams (300 million dollars) to finance its expansion plans in Morocco and Africa. The company said the capital increase will take place between March 14 and April 2 as it braces to start production at a gold project in West Africa known as Tri-K, with […]
The African Continental Free Trade Area (AfCFTA) has so far failed to boost Africa’s global trade participation that still stands at a mere 3%, according to a new report that assessed the progress in regional integration in the continent. African countries continue to conduct a greater volume of trade with countries beyond the continent rather […]
Secretary General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, commended the Atlantic African Initiative launched by King Mohammed VI for Sahel States. The GCC States welcome the Atlantic African Initiative of King Mohammed VI which will strengthen cooperation between Sahel and Atlantic coast States, Albudaiwi said during the GCC-Morocco ministerial meeting held on […]
Foreign Ministers of the Gulf Cooperation Council (GCC) countries reaffirmed, Sunday, the unwavering positions, and steadfast decisions of the GCC Supreme Council supporting the Moroccan sovereignty over the Sahara and the preservation of peace and security of Morocco. These commitments that also endorse the autonomy initiative as the only solution to the settlement of the […]
Canada’s Shimco, a manufacturer serving the global aerospace supply chain, said it plans to have a plant in Morocco. A deal was signed to that end with Morocco’s industrial hub Midparc to join a constellation of global aeronautical suppliers in Nouacauer industrial zone in Casablanca. Speaking at the signing ceremony, attended by Moroccan industry minister, […]
Morocco’s phosphates and fertilizer giant, OCP, said its revenue in 2023 dropped to $9.1 billion from $11.3 billion a year earlier due to lower prices in the international market. The company said it will forge ahead with its investments which totaled $2.6 billion last year, from 2 billion a year earlier. Few days ago, OCP […]