First Independent Mena Newspaper
Morocco has been removed from the EU’s tax haven grey list after it took a series of measures and enacted new laws aiming to ensure greater transparency. The most recent reforms undertaken by Morocco to comply to EU fiscal standards was that of the tax system pertaining to financial hub, Casablanca Finance City. Morocco has […]
The International Finance Corporation has pledged to help Moroccan women reach more leadership positions in the business world under an agreement inked Friday in Casablanca with Club des Femmes Administrateurs (CFA). IFC will train members of CFA on a range of topics relating to corporate governance, as well as conduct outreach activities to strengthen the […]
Mauritania’s customs have released five vessels belonging to Ocean Fresh Food AS, a Norwegian company which has accepted to pay €2.6 million in fine, Le360.ma reports. Ocean Fresh Food AS according to its lawyer, Brahim ould Ebetty, has agreed to pay the penalty in a move to settle the lawsuit launched against it by the […]
The Moroccan Justice Ministry has bought overvalued furniture and office equipment an audit by the Finance Ministry showed. The audit repot published by Moroccan media Rue 20 showed that the expensive procurements occurred during the administrations of Islamist Mustapha Ramid and his successors Mohamed Aoujar of the RNI and current USFP minister Mohammed Ben Abdelkader. […]
The European Bank for Reconstruction and Development (EBRD) is providing a €300 million financing package to Société Tunisienne de l’Electricité et du Gaz (STEG) to support the stability of Tunisia’s energy sector during the coronavirus pandemic in the medium term. This program will allow Tunisia’s state-owned national electricity and gas utility company to implement an […]
The European Bank for Reconstruction and Development (EBRD) announced on Friday a €20 million risk-sharing facility (RSF) to enable Attijari Bank Tunisia, a subsidiary of the Moroccan Attijari Wafabank, support Tunisian small businesses to gain better access to financing. Since the outbreak of the coronavirus pandemic, existing challenges to access funding and liquidity have become […]
Morocco and the USA have partnered to launch in the Beni Mellal-Khénifra region a socio-economic development program worth $18 million. The program is meant to promote an inclusive development of the region (North-central Morocco), with focus on the creation of economic opportunities for women, young people, people with special needs, and rural populations. The “Inclusive […]
The European Investment Bank (EIB) will support income-generating microcredit activities in Morocco with a €10 million loan. The loan to be extended to the financing company of microfinance organizations “Jaida” will strengthen the company’s capacity to finance microfinance institutions in Morocco and support its action meant to promote financial inclusion and social development, said a […]
Time and money are running out for Algeria as it eats into its foreign reserves trying to avert the inevitable: bankruptcy. The country’s Prime Minister Abdelaziz Djerad has ordered an urgent spending cut to try to offset falling income from oil and gas. An unexpected rise in spending in 2020 due to the […]
Morocco’s economic growth is expected to pick up to 4.6% in 2021 after a 7% loss in 2020 due to the coronavirus pandemic which hit both exports and local market, the Moroccan high commission for planning, HCP, said. Citing a severe drought and the coronavirus pandemic impact, the HCP said that the economy is expected […]