First Independent Mena Newspaper
China’s Export Import Bank and the Casablanca-based Attijariwafa Bank will join efforts in a $5 billion bank dedicated to boosting African exports to China and promoting industrial activity in the countries where the Moroccan bank operates. The deal attests to the credibility and large network of Moroccan banks in Africa, as well as Morocco’s efforts […]
Morocco’s economic growth is expected to reach 2.8 percent in 2019 against 3 pc posted last year due to a slight decline in agricultural output and a moderate recovery in non-agricultural activity, said on Thursday Nicolas Blancher, Chief of the International Monetary Fund (IMF) team that visited Morocco from Oct.29 to Nov.7. Morocco’s economic fundamentals […]
The World Bank’s Board of Executive Directors has approved a $300 million loan (€271.8 million) to support the strengthening of Morocco’s municipalities, an objective that is part of the Kingdom’s broader efforts to upgrade urban services and turn urban conglomerations into engines of growth and job creation. The Municipal Performance Project aims to build capacity […]
The Moroccan city of Benguerir (near Marrakech) is hosting this Nov.4-5 the 2nd annual ministerial conference of the Initiative for the Adaptation of African Agriculture to climate change (AAA Initiative). The event, organized under the theme: “Food Security Facing Climate Change”, brings together representatives of key financial institutions, donors, the private sector and scientific researchers […]
The African Development Bank Shareholders have approved a landmark $115 billion capital increase, doubling the bank’s capital base from $93 billion to $208 billion, and strengthening thus the Bank’s leadership on development financing for the continent. This largest capital increase in the Bank’s history was approved at an extraordinary shareholders’ meeting last week in in […]
Governor of Bank Al-Maghrib Abdellatif Jouahri was named among the top ten central bank governors in the world in 2019 for the third year in a row. Jouahri got an “A”, the maximum grade awarded by New York magazine Global Finance in its ranking “Central Banker Report Cards 2019”, bringing together 94 governors of central […]
Morocco’s 2020 draft budget provides for a series of measures to improve the purchasing power of the poor, increases funding for social services and augments spending to back the reforms of the health and education sectors. The document, shared widely on Moroccan media ahead of its submission to Parliament’s deliberations, allocates 26 billion dirhams for […]
Economic growth in the region of North Africa and the Middle East is expected to drop to 0.6 pc in 2019 against a 1.2 pc growth posted last year, says the World Bank in its latest report. The growth forecast for 2019 has been revised downwards due to intensified global economic headwinds and rising geopolitical […]
Morocco’s BCP bank said on Friday it completed the acquisition of BCI bank in Congo Republic from France’s BPCE after having met all regulatory requirements. Speaking on the sidelines of a ceremony to seal the agreement, BCP CEO Kamal Mokdad said “the acquisition of BCI will help BCP group strengthen its presence in the Economic […]
Morocco’s economic growth is expected to pick up gradually and average 3.3 over 2020–2021, mainly driven by more dynamic secondary and tertiary activities, bolstered by high foreign investments, according to the World Bank forecast. Significant FDIs continue to flow into Moroccan automotive industries, especially in the new Peugeot plant – that will eventually double the […]