First Independent Mena Newspaper
Heads of state of 17 countries in the Sahel region will hold a summit meeting next week in Niamey to approve a climate investment plan worth $400 billion. The 12-year plan will cover the 2018 to 2030 period. It is expected to involve 17 nations from the Atlantic Ocean to the Horn of Africa and […]
President Donald Trump on Friday signed into law the 2019 appropriation legislation that stipulates explicitly that the assistance funds allocated to Morocco will also benefit the Sahara. Morocco welcomed the text, which recognizes Morocco’s sovereignty over its Sahara southern provinces, as it is unequivocally pro-Morocco and unusually forthcoming on US development funds for the Sahara. […]
Casablanca Finance City (CFC) and Abu Dhabi Global Market have agreed to enhance cooperation and jointly promote the development of financial services in Morocco and the United Arab Emirates. The agreement was inked by Saïd Ibrahimi, CEO of the CFC Authority and his emirati peer Dhaher Bin Dhaher Al Mheiri. The two sides pledge to […]
The African Development Bank (AfDB) agreed Tuesday to back Morocco’s efforts to reduce unemployment with a $96.6-million loan that will support access to jobs and improvement of populations’ living conditions. Morocco’s minister of economy, Mohamed Benchaaboun, said at the signing of the agreement, the loan is earmarked to improving living conditions through an inclusive job […]
Morocco has encouraged its companies to invest in Sub-Saharan Africa to an extent that its geared 90% of its foreign direct investments to the region in the period spanning from 2010 to 2018, the Financial Times reported. Ethiopia, Côte d’Ivoire and Cameroon were top destinations of Moroccan investments, the publication said. Morocco’s exports to West […]
Germany is supporting Morocco’s sustainable development efforts with a financial assistance of €330.5 million, including loans and grants. The funds will help the North African country carry out projects in renewable energy, electric power, water supply & storage in rural areas and desalination of seawater. Two agreements were signed in this regard by Moroccan minister […]
Moroccan banks across Africa serve as a launchpad that will allow Moroccan and European businesses to expand in the continent, Stratfor, a US firm specializing in risk analysis, said in a recent report. The report shows that Morocco has become a key investor in Sub-Saharan Africa owing to the strength of its financial sector. “As […]
The International Monetary Fund (IMF) said Morocco’s economic fundamentals and policy frameworks are sound as the government remains committed to reforms amid a positive macroeconomic outlook. Morocco’s policy priorities “include continued fiscal prudence and progress toward exchange rate flexibility, and reforms of taxation, governance, oversight of state owned enterprises, fiscal decentralization, and the business environment,” […]
African-focused start-up Andela has raised $100m in a tour in United States, led by Al Gore’s Generation Investment Management. Andela, founded in 2013 to train African software developers and help them get hired by global companies, said it would use the most recent cash injection to expand the business and improve its internal data tools […]
Morocco has attracted a steady flow of foreign direct investment, unlike the rest of North Africa, which has seen a sharp decline in FDI, said the Financial Times in a story published Thursday. While many economies in North Africa have struggled to bring back foreign investors, Morocco has fared better than most. It has a […]