First Independent Mena Newspaper
Maroc Telecom, Morocco’s largest telecom operator, said that it invested €6 billion over the last decade in modernizing telecommunication infrastructure in the African continent. Speaking to the press following talks with Côte d’Ivoire’s president in Abidjan earlier this week, head of Maroc Telecom management board, Abdesslam Ahizoune, said that the company is planning to expand […]
Morocco’s Central Bank, Bank Al-Maghrib, decided Tuesday to maintain its key interest rate unchanged at 2.25 % during the third quarterly meeting of its Board of Directors which expects a 4.3% growth in 2017. After analyzing recent economic developments and reviewing the macroeconomic forecasts, the Board deemed as “appropriate” the decision to uphold the key […]
South African Bank, Rand Merchant Bank (RMB), issued the sixth edition of its report “Where to Invest in Africa”, ranking Morocco third most attractive investment destination in Africa. Morocco came third in the ranking preceded by Egypt and South Africa in the report, which aims to serve as a guide to corporate investment. According to […]
Leading Moroccan bank, Attijariwafa Bank, is expecting its newly acquired Egyptian unit to be its major growth driver in coming years and is planning to expand its operations by adding new branches and hiring staff. The bank anticipates that the Egyptian operation will contribute 12% to 14% of its net income in 2018, with revenue […]
Egypt plans to issue a new $1.8 billion bond by the end of November and a new $10 billion Eurobond program next year, Finance Minister Amr El Garhy said on Monday. According to the official, the finance ministry would determine the currency of its next Eurobond issuance within two weeks. “The issue will be in […]
Lloyds, the world leader in insurance & reinsurance, is bracing to install its African base in Casablanca Finance City (CFC), says Moroccan newspaper l’Economiste. After several months of talks, Lloyds group has finally obtained CFC status, which allows the British firm to operate in Casablanca and sell its services & products to African countries. CFC, […]
Bahrain’s Al Baraka Bank deems that the regulatory framework in Morocco is conducive for the launch of an Islamic finance venture. The Bank’s Chief Executive, Adnan Ahmed Yousif, told Reuters that the Bank targets the expanding Islamic finance in Morocco in effort to diversify assets and revenues in Africa. Morocco is attractive for Islamic banks […]
The Executive Board of the International Monetary Fund (IMF) completed on August 1 the second review under the Precautionary and Liquidity Line (PLL) Arrangement and reaffirmed Morocco’s continued qualification for the PLL and its sound economic fundamentals. In a statement on its website, the IMF underscores Morocco’s eligibility to PLL and praises the country for […]
After a meagre growth rate of 1.2% in 2016 as a result of disappointing crop year, Morocco expects its economy to expand by 4.8% amid promising macro-economic indicators said minister of Economy and Finance, Mohamed Boussaid. The minister, who was presenting a report on the progress of the implementation of the 2017 budget in a […]
Morocco and the Kuwaiti Fund for Arab Economic Development signed a financing agreement of the second phase of the high-speed train TGV worth 474 million Dirhams. This loan attests to the strong partnership between the two countries and the interest of Kuwait in Morocco’s strategic development projects, said Morocco’s economy and finance minister Mohamed Boussaid […]