First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) has granted Novares Morocco, the Moroccan subsidiary of the French automotive supplier Novares Group, a €16.5 million loan. The amount will be used to finance the Novares project in Morocco, supplying the plants of Peugeot PSA in Kenitra and of Renault in Tangiers. The funds will also […]
As part of its External Investment Plan, the EU Tuesday gave its green light to a package of financial guarantee programs worth around €800 million. This will help to leverage an estimated €8-9 billion in public and private investment in Africa and the Neighborhood, the European Commission announced in a press release. The decision is […]
As the Sahel region experiences its worst food and nutrition crisis in five years and continued insecurity, the European Commission has announced Tuesday a humanitarian aid package worth €191.3 million. Over one third of the amount, i.e. €70,6 to be shared between Mali and Nigeria. “There is no time to waste with many affected by […]
The Central People’s Bank of Morocco (BCP) has secured funds from Proparco and the African Development Bank, destined to upgrade its business financing in West Africa, mainly in Côte d’Ivoire, Guinea, Mali and Senegal, where the bank is operating through its subsidiary Banque Atlantique. BCP has thus signed Thursday in Casablanca a funding agreement with […]
Imports continue to drain Algeria’s foreign exchange reserves, which are expected to end 2018 with $85 billion as the country reels under the drop in oil revenues. Reserves were at $90 billion by the end of May, almost less than half the $190 billion reserves registered in end 2014 prior to the oil price slump. […]
Morocco’s economy is expected to post a growth rate of 3.6% in 2018, the Central Bank said, revising upwards estimates of 3.2% in the appropriation bill. This growth is due to a rebound in agricultural added value by 5.7% as the country expects a good crop year with cereal production projected to stand at 98.2 […]
Rabat hosted Tuesday the launching conference of the European Union External Investment Plan (EIP) in Morocco that will pave the way to a better business environment and foster economic development. The EIP launching conference in Morocco was attended by Michael Köhler, European Commission Director for Neighbourhood South, and Moroccan Minister of Economy and Finance, Mohamed […]
Africa practice, a pan-African strategy and communications consulting firm, has joined Casablanca Finance City, the 1st financial center in Africa, according to the 2018 Global Financial Center Index Set up in 2003, Africa practice advises some of the largest institutions, companies and investors on the continent. It operates from seven African offices and delivers assignments […]
Foreign Direct Investment flows in Morocco increased by 23 per cent in 2017 to reach $2.7 billion, while FDI to the rest of North Africa dropped by 4 per cent, according to UNCTAD’s World Investment Report 2018 (WIR). The FDI injected in the North African Kingdom went up thanks to considerable investment into new car […]
Moroccan Minister of Agriculture Aziz Akhannouch and Tariq Sijilmassi, Chairman of banking Group Crédit Agricole, chaired on Tuesday, in Rabat, the signing ceremony of an agreement with the farmers’ cooperatives and their Union (UNCAM) and the National Federation of millers. Under the agreement, Crédit Agricole bank will provide agricultural cooperatives soft loans to enable them […]