First Independent Mena Newspaper
U.S. Veritas Company, a global supplier of rubber, plastic, aluminum, and steel cooling, fluid management, and climate control solutions for automotive industry, has completed construction of a new manufacturing facility in Morocco. The facility, located in Tangier, is Veritas’ first production site in the country and in Africa. It supports Veritas’ long-term growth strategy and […]
OCP S.A. has successfully completed a $149.9 million ‘tap issue’ backed by the 10.25-year tranche of the perpetual subordinated hybrid bond it launched in April 2026, the phosphate group announced September 21. The operation was carried out under authorization granted by OCP’s board of directors on March 12, 2026, and benefits from the prospectus exemption […]
Hyundai Motor will supply 15 Elec City electric buses to Marrakech under a development aid project run jointly with South Korea’s Korea International Cooperation Agency (KOICA) and the city of Marrakech. The automaker announced the delivery Tuesday, a day after holding a handover ceremony at its Jeonju plant in Wanju County, North Jeolla Province, marking […]
The Moroccan central bank, Bank Al Maghrib, kept its benchmark interest rate unchanged at 2.25 percent following its third quarterly board meeting of 2026, citing elevated uncertainty linked to geopolitical tensions and their impact on global supply chains and key inputs for domestic industries. In a statement after the meeting, the central bank said the […]
The Chamber of Commerce, Industry and Services for the Tangier-Tétouan-Al Hoceima region (CCIS-TTA) will hold a third training cycle for entrepreneurs and project holders from the region, running from September 24 to October 8 in Tangier, focused on digital marketing, content creation and artificial intelligence. Organizers said the program aims to help participants better exploit […]
The International Monetary Fund (IMF) forecasts a decline in Algeria ‘s foreign exchange reserves from $51 billion in 2025 to $46.5 billion this year, before plummeting to 19.8 billion in 2031, a 61.2% contraction that would reduce the country’s import coverage from 8.6 months to 3.3 months. In a statement issued after concluding Article IV […]
OCP Maintenance Solutions, a subsidiary of Morocco’s OCP Group, has partnered with NTN Europe to bring AI-powered predictive maintenance solutions to industrial companies across Europe, the two companies announced. The partnership combines OCP Maintenance Solutions’ expertise in artificial intelligence and industrial data with NTN Europe’s knowledge of bearings, rotating equipment and industrial diagnostics, aiming to […]
Morocco’s consumer price index fell 0.3% year-on-year in August 2026, marking a second consecutive month of negative annual inflation after a 0.6% decline in July, according to the High Commission for Planning (HCP). The drop was driven primarily by a 3.9% annual fall in food prices, which more than offset a 2.5% rise in non-food […]
Morocco’s National Office for Electricity and Potable Water (ONEE) is studying an expansion of Laayoune’s seawater desalination plant to meet growing water demand in the city and surrounding areas. The project would add a third production unit with capacity of up to 300 liters per second, or around 26,000 cubic meters a day, using reverse […]
Afric Industries, a Tangier-based industrial group, posted net profit of 3.95 million dirhams for the first half of 2026, up 25% from 3.17 million dirhams a year earlier, with earnings growth outpacing revenue growth. Revenue rose 5% to 22.49 million dirhams over the first six months, from 21.32 million dirhams in the same period of […]