First Independent Mena Newspaper
The Arab Fund for Economic and Social Development (AFESD) has extended Morocco two loans totaling 72 million Kuwaiti dinars (about 2.27 bln MAD) to help finance two projects. The loans will finance the rehabilitation of the Mohammed V dam in eastern Morocco, and the construction of the Laayoune expressway bypass in the South. The first […]
Head of Casablanca Finance city (CFC) saïd Ibrahimi said that the number of companies that have acquired CFC status rose to 184 and is set to increase in light of the advantages offered by the Moroccan financial center to companies that want to expand in Africa. He said that CFC tax regime was not the […]
Casablanca Finance City (CFC) and Toronto Finance International (TFI) signed, Thursday in Toronto, a Memorandum of Understanding (MoU) to promote their cooperation and facilitate increased access to the two financial centers. The partnership agreement will also provide a platform to promote best practices in the areas of green finance and green infrastructure and share information […]
The European Union and the African Development Bank (AfDB) have earmarked about €67 million to support the fight against climate change in Niger. The funding will support the Program for Integrated Development and Adaptation to Climate Change (PIDACC) in the Niger Basin. The funding agreement was signed by the Nigerien Minister of Planning, Kané Aichatou […]
Morocco is tightening the noose on organized crime with the upcoming launch of a national strategy to fight money laundering as well as terrorism financing, head of the government Saad Dine El Otmani said. The strategy would facilitate a better coordination of actions between different departments, said El Otmani at a national conference on the […]
The European Union (EU) announced Tuesday a humanitarian aid of more than €152 million for the African region of the Sahel. “While Sahel countries continue to suffer from armed conflict, climate change and a food and nutrition crisis, the EU is providing €152.05 million to help people in need in the region”, said the European […]
CDC Group, the UK government’s foreign investment arm, has announced it will invest $300 million in power grid development in Africa over the next five years. This contribution will be made through Gridworks, a company that will be launched shortly to this end. The company will make investments in African transmission networks, but also […]
Moroccan banks have invested more than $1.8 billion in 25 African countries between 2007-2017, says a report released by the Moroccan ministry of economy & finance. These investments represent 52.2 pc of total Moroccan funds injected in Africa. Over 16.4 pc of the Moroccan investments were made in the telecom sector, 12.3 pc in industry […]
At the end of the first quarter of 2019, Morocco’s banking sector posted a 6% increase in profits compared to last year, with 3.4 billion dirhams (MAP). The first three months of the year 2019 were favorable for the banking sector, states local daily, l’Economist, in its Monday issue. Overall income of the banking sector […]
The US Agency for International Development has announced $500,000 in funding and $100,000 in technical assistance to the Women’s World Banking Asset Management (WAM) blended-finance fund. Joining USAID, the Overseas Private Investment Corporation (OPIC) announced its intent to provide $25 million in financing to the fund. The financing will help mobilize commercial investment to […]