First Independent Mena Newspaper
Morocco’s BCP Bank and the African Development Bank teamed up in a $100 million agreement to boost trade between African countries. The deal (risk participation agreement) provides for cooperation to promote trade between African states by meeting the growing demand on financing transactions in the continent, the Moroccan bank said in a statement. The BCP […]
Casablanca Finance City (CFC) signed a partnership agreement with Xicheng District Financial Development Promotion Center (XDFDPC) to promote investment opportunities between the two countries. The agreement is in line with CFC’s expansion strategy after it signed similar agreements with London, Luxembourg, Montreal, Paris, Astana and Busan. Under this agreement, the two parties shall cooperate in […]
King Mohammed VI arrived Saturday in Brazzaville to take part in the first Summit of Heads of State and Government of the Climate Commission and the Blue Fund for the Congo Basin as “special guest”. After the summit, which will take place on Sunday, the King will pay a working and friendship visit to the […]
The Moroccan tourist city of Marrakech will host the joint annual meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in October 2021. The decision was made by the Boards of Governors of the two institutions. It shows the trust Morocco enjoys at the international scene. The joint WB-IMF meetings bring […]
The World Bank urged Morocco to adopt a new growth model oriented towards boosting exports and strengthening the private sector. “Morocco’s growth model shows signs of weaknesses as it is confronted with a series of sustainability issues that risk, with varying degrees of intensity, impeding further progress,” the World Bank said in its April economic […]
Morocco’s largest telecom operator “Maroc Telecom” completed the acquisition of a 10% stake in ONATEL on the Abidjan Regional Stock Exchange for €41 million, bringing its shareholding in the Burkina Faso subsidiary to 61%. This transaction, at a price of CFAF 8,000 per share, allows Maroc Telecom to strengthen its stake in the leading operator […]
Morocco extradited to the USA Renwick Haddow, a British citizen accused of fraud related to Bitcoin, the US department of Justice (DOJ) said. The British citizen is accused of defrauding investors of More than $36 Million, the DOJ said in a statement. The DoJ complaint alleges Haddow, 49, “misappropriated investor funds” and “made false and […]
Morocco’s Economy and Finance Minister Mohamed Boussaid was selected Chairman of the Board of Governors of the Jeddah-based Islamic Development Bank Group (IDB) for a year. The tenure will end at the end of the 44th Council meeting, scheduled to take place in Marrakech in April 2019, said a statement from the Finance Ministry. Boussaid […]
Morocco ranks as the sixth largest recipient of the Islamic Development Bank funding with total loans amounting to $6.8 billion said Economic and Finance Minister Mohamed Boussaid. Speaking at the opening of the 43rd annual meeting of the group, Boussaid said the bank offered $2.9 billion to fund development projects in areas covering energy, transport, […]
Morocco was ranked the most attractive African economy for investments in the Africa Investment Index 2018 issued by Quantum Global. Morocco earned the title of Africa’s top investment destination thanks notably to an improving economy, increased foreign direct investment flow and low external debt levels in addition to propitious business climate among others. “Morocco has […]