First Independent Mena Newspaper
Governor of Bank Al-Maghrib Abdellatif Jouahri was named among the top ten central bank governors in the world in 2019 for the third year in a row. Jouahri got an “A”, the maximum grade awarded by New York magazine Global Finance in its ranking “Central Banker Report Cards 2019”, bringing together 94 governors of central […]
Morocco’s 2020 draft budget provides for a series of measures to improve the purchasing power of the poor, increases funding for social services and augments spending to back the reforms of the health and education sectors. The document, shared widely on Moroccan media ahead of its submission to Parliament’s deliberations, allocates 26 billion dirhams for […]
Economic growth in the region of North Africa and the Middle East is expected to drop to 0.6 pc in 2019 against a 1.2 pc growth posted last year, says the World Bank in its latest report. The growth forecast for 2019 has been revised downwards due to intensified global economic headwinds and rising geopolitical […]
Morocco’s BCP bank said on Friday it completed the acquisition of BCI bank in Congo Republic from France’s BPCE after having met all regulatory requirements. Speaking on the sidelines of a ceremony to seal the agreement, BCP CEO Kamal Mokdad said “the acquisition of BCI will help BCP group strengthen its presence in the Economic […]
Morocco’s economic growth is expected to pick up gradually and average 3.3 over 2020–2021, mainly driven by more dynamic secondary and tertiary activities, bolstered by high foreign investments, according to the World Bank forecast. Significant FDIs continue to flow into Moroccan automotive industries, especially in the new Peugeot plant – that will eventually double the […]
King Mohammed VI on Friday urged the Moroccan banking and financial sector to be more involved in the country’s development process, mainly through simplifying and facilitating access to loans, being more open to self-employment projects and financing the creation of small and medium sized enterprises. “Implementing projects and decisions, and ensuring follow-up to them, involves […]
Morocco said its economy will grow by 2.9% in 2019 after 3% in 2018 as the economy continues to be affected by agricultural output, according to finance minister Mohamed Benchaaboun. Rainfall was about 23% less this year compared with 2018, so cereals yield was down 50% compared to a year earlier further deepening the trade […]
As Algerians of all walks of life continue to protest against the military Generals and old guards for keeping a tight grip on the country since independence, all economic sectors of the country are plummeting, heading for a crash. This is the conclusion of the World Bank, which says that deepening political crisis affects business […]
King Mohammed VI chaired, on Wednesday in Rabat, a Council of Ministers during which the economy & finance minister made a presentation on the draft appropriation bill 2020, which seeks to enhance the country’s educational and training system, reduce social disparities and create job opportunities. Elaborated on the basis of royal directives, the draft bill […]
Moroccan public financial institution, Caisse Centrale de Garantie (CCG) has received the 2019 award of Best SME Bank in Africa at the 5th SME Finance Forum held in Amsterdam Oct. 7-9. The award of the International Finance Corporation (IFC) recognizes the most active financial institutions in terms of SMEs financial inclusion, particularly in Africa and […]