First Independent Mena Newspaper
King Mohammed VI on Friday urged the Moroccan banking and financial sector to be more involved in the country’s development process, mainly through simplifying and facilitating access to loans, being more open to self-employment projects and financing the creation of small and medium sized enterprises. “Implementing projects and decisions, and ensuring follow-up to them, involves […]
Morocco said its economy will grow by 2.9% in 2019 after 3% in 2018 as the economy continues to be affected by agricultural output, according to finance minister Mohamed Benchaaboun. Rainfall was about 23% less this year compared with 2018, so cereals yield was down 50% compared to a year earlier further deepening the trade […]
As Algerians of all walks of life continue to protest against the military Generals and old guards for keeping a tight grip on the country since independence, all economic sectors of the country are plummeting, heading for a crash. This is the conclusion of the World Bank, which says that deepening political crisis affects business […]
King Mohammed VI chaired, on Wednesday in Rabat, a Council of Ministers during which the economy & finance minister made a presentation on the draft appropriation bill 2020, which seeks to enhance the country’s educational and training system, reduce social disparities and create job opportunities. Elaborated on the basis of royal directives, the draft bill […]
Moroccan public financial institution, Caisse Centrale de Garantie (CCG) has received the 2019 award of Best SME Bank in Africa at the 5th SME Finance Forum held in Amsterdam Oct. 7-9. The award of the International Finance Corporation (IFC) recognizes the most active financial institutions in terms of SMEs financial inclusion, particularly in Africa and […]
S&P Global Ratings agency maintained Morocco’s ratings at BBB-/A-3 while upgrading its outlook from negative to stable. The stable outlook reflects expectation that fiscal consolidation will continue over the next few years, which will help stabilize debt. “We could raise the rating if budgetary consolidation prospects materially improve or the ongoing transition toward a more […]
The second Africa Blockchain Summit (ABS 2019) will be held in Morocco’s capital city of Rabat Nov.21 under the theme: “Blockchain at the service of the financial sector”. The event is organized by Bank Al-Maghrib (Central bank) and Paris Europlace in cooperation with HPS and Talan. It will bring together central banks, monetary and financial […]
The government of Tunisia plans to issue €800 million of bonds on the international debt market next year. “Initially, there is a plan to ask parliament for approval to issue bonds worth up to €800 million ($874.24 million) next year,” a senior official told Reuters Wednesday. The official noted however that it was too early […]
Morocco’s Banque Centrale Populaire, BCP, has acquired 68.5 per cent of Cameroon’s Banque Internationale du Cameroun pour l’épargne et le crédit (BICEC). Till that acquisition, the assets were owned by French group BPCE (Banque Populaire et Caisse d’épargne). The deal was signed Tuesday at BICEC headquarters in Douala, Business in Cameroon reports. Kamal Mokdad, […]
Morocco has received in 2019 loans from the African Development Bank (AfDB) worth 3 billion dollars funding 35 projects, bringing total loans by the African development finance institution to 10 billion dollars since the 1970s. AfDB’s funding makes Morocco on top of the list of beneficiaries of loans which covered areas such as energy, transport, […]