First Independent Mena Newspaper
Morocco’s growth is expected to reach 5.3% in 2021, and to consolidate to 3.3% in 2022, according to the Kingdom’s Central Bank (BAM). “Growth would reach 5.3 percent this year, driven by a 3.6 percent increase in the value added of non-agricultural activities and a 17.6 percent rebound in the agricultural sector”, the bank […]
Money sent home by Moroccans living abroad represented 20% of overall foreign exchange reserves held by Morocco, head of the government Saad Eddine El Othmani said. Despite the pandemic, remittances proved resilience and showed the values of solidarities held dear by Moroccans. Total remittances stood at 7.4 billion dirhams in 2020, up from 6.9 billion […]
Morocco aims to increase non-phosphate mining revenue to 1.6 billion from 730 million dollars in 2020, the energy and mining ministry said in its newly unveiled 2025-2030 development plan. The plan also provides for raising investments in prospection and research to 450 million dirhams, the ministry said. The mining sector contributes by up to 10% […]
The World Bank approved a $450 million loan to support Morocco’s reforms to expand the availability of financial services and digital infrastructure for individuals and businesses, as well as improving financial inclusion and digital entrepreneurship. The loan seeks to deepen reforms aimed at boosting the financial resilience of households and micro-, small-, and medium-size enterprises […]
Morocco received three prizes in the “Global Capital Bonds Awards 2021”, the Ministry of Economy & Finance announced on Friday. Morocco was thus ranked as the best issuer of international bonds in Africa; the 2nd best issuer in the category “Emerging Markets”; and the best manager of the international financial market in the African region, […]
Morocco’s phosphates and fertilizer producer OCP Group raised 1.5 billion dollars in a dual tranch-bond that is aimed at boosting its growth strategy. The group has become a key player in fertilizer production and plans plants in Nigeria and Ethiopia as well as blending units across the continent. Demand for the bond, which was arranged […]
The World Bank has added $100 million to an existing $200 million loan to help Morocco manage natural risks and hazards. “Protecting the people and economy against natural hazard can save Morocco over US$800 million a year,” said Jesko Hentschel, World Bank Maghreb Country Director. “Developing more resilience to the risk of natural disaster is […]
Morocco’s economic growth is expected to rebound to 4.6 pc in 2021 as drought conditions ease, policy remains accommodative, and virus and vaccine trends are favorable, says the World Bank in its latest report on global economic prospects. The updated WB projections, which are taking into account various external and internal factors, confirm the International […]
The World Bank has approved a $450 million loan to support Morocco’s long-term strategy to strengthen human capital and fund the 3rd phase of the country’s National Initiative for Human Development, focusing on early childhood development (ECD). “Morocco’s future social and economic trajectory is conditioned by improving its ability to accelerate progress in accumulating human […]
The African Development Bank (AfDB) has renewed its commitment to support a socially inclusive and ecologically sustainable recovery in Morocco, said the Bank country manager for Morocco Brice Mikponhoue. Speaking at the opening of a remotely-held seminar on social and environmental safeguards that frame AfDB’s operations in the Kingdom, Mikponhoue said that this joint event […]