First Independent Mena Newspaper
The African Continental Free Trade Area (AfCFTA) has potential to increase cross-border remittances by migrants, according to a new report by World Bank, even as international markets remain the largest sources. The AfCFTA has the potential to make cross-border transactions such as remittance transfers by migrants within Africa cheaper through the Pan-African Payment and Settlement […]
The European Bank for Reconstruction & Development expects Morocco’s economic growth to reach 3.1 % up from the 1.3 % recorded in 2022 when a drought compounded the adverse impact of tighter global financing conditions. According to the Bank’s Regional Economic Prospects report released Wednesday, the forecast does not incorporate the effects of the powerful […]
Morocco set up the High Atlas Mountains development agency to oversee reconstruction efforts in the earthquake-hit areas. The agency was set up in implementation of Royal directives which urged speeding up reconstruction efforts after the 7-magnitude quake that left nearly 3000 people dead, and damaged 60,000 homes. The agency will oversee projects aiming at rehousing […]
Morocco has spelled out its national strategy to become a global player in green hydrogen industry as of next year. The kingdom is poised to start the production and the export of green hydrogen by next year. To meet the target, authorities have identified a set of actions to be taken to achieve what they […]
King Mohammed VI, Commander of the Faithful, has launched the process of reforming the Family Code to keep pace with the changes taking place in the country and Moroccan society wherein tradition and modernity go hand in hand. In a Letter addressed to Head of Govt., the Monarch sets a six-month deadline for submitting the […]
Morocco’s central bank has decided to keep its key rate unchanged at 3 percent due to the high degree of uncertainty surrounding the international developments and the domestic context in the aftermath of the earthquake that hit the country on Sept.08. The decision was made Tuesday by the Board of Bank Al-Maghrib after discussing local […]
The European Bank for Reconstruction & Development (EBRD) announced on Monday a €34.5 million loan to Dislog Group, a leading manufacturer and distributor of hygiene & pharmaceutical products. The funding consists of two tranches. €24.5 million will be used by Dislog to acquire Steripharma, a local pharmaceuticals manufacturer that provides affordable specialty generics medicines to […]
Morocco has acquired high-tech armament that would give it the upper hand in symmetrical or asymmetrical potential regional conflicts, said Forbes. Morocco reinforced its arsenal with game-changing air systems and weapons made by Israel and Turkey that helped Azerbaijan make inroads in the Nagorno Karabath war, wrote Paul Iddon on Forbes. After highlighting the efficiency […]
Morocco ranks first in Africa in matters of electronic security, as revealed in the 2023 edition of the global Digital Quality of Life Index, established by Surf Shark, a security company based in Amsterdam. The Kingdom has also advanced two spots globally compared to the previous ranking. According to the authors of the DQL Index, […]
Last year’s discovery off the shores of Namibia of an estimated 11 billion barrels of crude holds the promise of untold riches for this nation of 2.7 million people, but capitalizing on the bounty while avoiding the ills that afflict resource-rich countries in Africa — a phenomenon known as ‘resource curse’ — may prove challenging. […]