First Independent Mena Newspaper
S&P Global Ratings agency maintained Morocco’s ratings at BBB-/A-3 while upgrading its outlook from negative to stable. The stable outlook reflects expectation that fiscal consolidation will continue over the next few years, which will help stabilize debt. “We could raise the rating if budgetary consolidation prospects materially improve or the ongoing transition toward a more […]
The second Africa Blockchain Summit (ABS 2019) will be held in Morocco’s capital city of Rabat Nov.21 under the theme: “Blockchain at the service of the financial sector”. The event is organized by Bank Al-Maghrib (Central bank) and Paris Europlace in cooperation with HPS and Talan. It will bring together central banks, monetary and financial […]
The government of Tunisia plans to issue €800 million of bonds on the international debt market next year. “Initially, there is a plan to ask parliament for approval to issue bonds worth up to €800 million ($874.24 million) next year,” a senior official told Reuters Wednesday. The official noted however that it was too early […]
Morocco’s Banque Centrale Populaire, BCP, has acquired 68.5 per cent of Cameroon’s Banque Internationale du Cameroun pour l’épargne et le crédit (BICEC). Till that acquisition, the assets were owned by French group BPCE (Banque Populaire et Caisse d’épargne). The deal was signed Tuesday at BICEC headquarters in Douala, Business in Cameroon reports. Kamal Mokdad, […]
Morocco has received in 2019 loans from the African Development Bank (AfDB) worth 3 billion dollars funding 35 projects, bringing total loans by the African development finance institution to 10 billion dollars since the 1970s. AfDB’s funding makes Morocco on top of the list of beneficiaries of loans which covered areas such as energy, transport, […]
The European Bank for Reconstruction and Development (EBRD) is working on strengthening the small-business support for the fishing industry in Agadir region, famous for its fishing sector. With nearly 2.7 million people and its contribution of 7.7 pc to the country’s GDP, the region is of great strategic importance to Morocco. It is part of […]
The UNICEF and the Islamic Development Bank (IsDB) Thursday launched an innovative fund that will open new opportunities for Muslim philanthropy to reach the millions of children currently in need of humanitarian support and help achieve the Sustainable Development Goals (SDGs), the UNICEF announced. The Global Muslim Philanthropy Fund for Children (GMPFC) is the first […]
Morocco, a staunch advocate of Africa’s socio-economic development, has called, Wednesday in New York, for the setting up of a fund to support the implementation of sustainable development goals (SDGs) in the continent. The call was launched by Head of the Moroccan government, Saâd Dine El Otmani, at the high-level political forum on sustainable […]
Morocco’s central bank has called for more vigilance concerning public debt to spare future generations the pain of structural reforms. The statement was made by central bank governor Abdellatif Jouahri following a board meeting that kept the key interest rate unchanged at 2.25%. He said the current rate remains appropriate and dismissed calls for a […]
The African Development Bank (AfDB) has announced a contribution of $267 million to finance the implementation of the Priority Investment Program (PIP) of the G5 Sahel. The Priority Investment Program is a 14.8-billion-dollar program addressing development needs in governance, security, economic resilience, and infrastructure in the Sahel region. The program aims to improve the living […]