First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) has appointed Haytham Eissa Head of the Bank’s Office in Morocco, in replacement Antoine Sallé de Chou. Mr Eissa said: “Building on the EBRD’s strong track record in Morocco, I am committed to driving even greater impact in the years ahead. We will continue to invest in […]
Morocco’s household consumption patterns reveal stark regional disparities, with five regions accounting for 74 percent of the nation’s total consumer spending in 2023, according to data released Tuesday by the High Commission for Planning (HCP). The concentration underscores persistent economic imbalances despite ongoing development initiatives. Casablanca-Settat leads overwhelmingly with 25 percent of national household final […]
Libya’s Planning Minister Mohamed Al-Zidani has underscored the importance of digital transformation in the country’s banking sector as a driver of investment confidence. Speaking at the Third Forum of Libyan Banks, held Monday, under the theme “A Digital Takeoff for Libyan Banks,” he said digitization is the product of collaboration between banks, regulators, and national […]
Abdellatif Jouahri, Governor of Bank Al-Maghrib, has been named in the list of the world’s top central bank governors in the 2025 edition of Global Finance magazine’s annual Central Banker Report Cards. Jouahri earned an “A” rating -the highest possible distinction- recognizing his continued excellence in steering Morocco’s monetary policy through complex global and domestic […]
Morocco has solidified its position among Africa’s leading wealth centers with 7,500 millionaires, representing a 40 percent increase over the past decade, according to the Africa Wealth Report published recently. This growth trajectory places the kingdom third continentally, behind South Africa’s 41,100 millionaires, Egypt’s 14,800, and ahead of Nigeria’s 7,200 wealthy individuals. Casablanca remains Morocco’s […]
Morocco’s government will implement a significant increase in the parafiscal solidarity tax on insurance contracts, raising the rate from 1 percent to 1.5 percent. The amendment, scheduled for approval by decree at this Thursday’s Council meeting, aims to strengthen the nation’s disaster response capabilities following recent catastrophic events. The additional revenue will flow directly into […]
The Democratic Republic of Congo has launched an ambitious plan to reclaim monetary control by reversing decades of deep-rooted dollar dependence. Newly appointed Central Bank Governor André Wameso has placed restoring confidence in the Congolese franc (CDF) at the heart of his mandate. Today, nearly 90% of Congo’s transactions — from mineral exports to daily […]
Morocco’s centuries-old rotating savings system, known locally as “daret” or tontine, is undergoing a digital transformation aimed at addressing the financial exclusion affecting 53 percent of the country’s adult population. The new mobile application, developed by former French banking executives Nabil Chakir and Mourad Chokeir, seeks to modernize this informal financial practice while preserving its […]
The Asian Infrastructure Investment Bank (AIIB) has approved a $200 million loan to support Morocco’s resilience efforts to mitigate the social and economic impacts of climate change. The loan is part of a co-financing programme with the World Bank, which has already committed $350 million. The funding will enable Morocco cut greenhouse emissions, carry out […]
British financial technology powerhouse Revolut is positioning itself to disrupt Morocco’s traditional banking sector, with regulatory approval applications submitted to Bank Al-Maghrib signaling imminent market entry into North Africa’s growing digital economy. The London-based neobank, valued at approximately 41 billion euros with nearly 60 million global customers, has appointed its first Morocco country director and […]