First Independent Mena Newspaper
A French-Moroccan consortium comprising Aegis (main contractor), Systra, and Novick has secured a contract to provide project management assistance to Morocco’s National Railway Office (ONCF) for the high-speed rail infrastructure between Kenitra and Marrakech. The consortium will support ONCF in constructing 430 kilometers of new high-speed lines, quadruple 130 kilometers of conventional lines around Casablanca, […]
The national authority for the regulation of cannabis-related activities (ANRAC) offered 3000 this year, for the production, processing, and import of cannabis-related products compared to just 609 last year. The number of farmers who received farming permits rose to 2600 in the provinces of Taounate, Chaouen, Al Hoceima, while 200 permits were delivered to activities […]
Morocco’s unemployment rate surged to 13.1% on the back of persisting drought in the first half this year, compared with 12.4% the same period last year. Youth unemployment, in particular, soared to 36%, with 19% reported among degree holders, the high commission for planning HCP said. The total number of the unemployed in Morocco grew […]
Sub-Saharan Africa offers opportunity for a $193-billion investment in renewable energy sector by 2031, including utility-scale wind, solar, storage and transmission projects, which may yield an internal rate of return of 15% to 21%, much higher than with similar projects in Europe and the United States, according to a new study. “Africa represents a significantly […]
The Moroccan government is preparing the 2025 appropriation bill based on a forecast of 4.6% growth rate, from an estimated 3.3% this year, the finance minister said. The government will press ahead with its social project, which includes generalization of safety nets and financial assistance to the needy, in addition to investing in infrastructure and […]
African ministers of trade attending the 21st African Growth and Opportunity Act (AGOA) Forum held in Washington D.C. last week have urged the US government to do away with the AGOA’s annual reviews and expressed the importance of an expeditious renewal of the legislation by the end of 2024. With AGOA expiring in 14 months, […]
Twenty-five years of King Mohammed VI’s rule transformed the country’s economy. The tourism sector, in particular, made major leaps forward turning the country into Africa’s most popular tourist destination and one of the most competitive in the mediterranean region. Building on a centuries-old history, unique architecture, rich traditions, colorful landscapes, world-renowned cuisine, imperial cities, hospitality […]
Morocco’s central bank is expected to take more monetary easing steps in the second half of this year by cutting the benchmark rate to 2.25% from 2.75% currently, Fitch Solutions said. “We forecast that BAM will cut its policy rate in another two steps of 25bps in September and December 2024, to 2.25% by end-year […]
King Mohammed VI, accompanied by Crown Prince Moulay El Hassan and Prince Moulay Rachid, received, on Monday at the Royal Palace in Tetouan, Abdellatif Jouahri, Governor of the Central Bank (Bank Al-Maghrib), who presented to the Sovereign the Bank’s annual report on the economic, monetary, and financial situation for the 2023 financial year. In his […]
The French magazine Conflicts, specializing in geopolitical issues, extensively published an analysis on “Morocco’s success in the field of infrastructure over the past 25 years, after considering the role of this element in various international documents as fundamental to economic development.” In what constitutes a “French acknowledgment” of Morocco’s infrastructure Renaissance, the Geopolitics magazine confirmed […]