First Independent Mena Newspaper
Morocco’s 2023 gross domestic product grew to $146 billion, after posting a more than expected growth rate at 3.4%, despite the impact of drought and inflation, the statistics agency, HCP, said. The performance came on the back of a growth in non-agricultural activity by 3.5% and a 1.4% growth in the farming sector, as lack […]
Senegal and Mauritania are forging ahead with their joint gas fields with the arrival of BP’s floating production, storage, and offloading (FPSO) unit in the Grand Tortue Ahmeyim (GTA) Phase 1 LNG project. The vessel, built at China’s COSCO Qidong Shipyard, will serve the Greater Tortue Ahmeyim (GTA) liquefied natural gas project, which is planned […]
Two years after the signing of the founding protocol, the African Energy Bank officially opened its doors on June 4 and slated the operational launch for July. This supranational bank will focus on financing oil and gas projects in Africa, with a view to bridging the financing gap in these sectors and the continent’s energy […]
Mali’s revenue from gold mining activities fell by 26% due to lower taxes, official figures showed. Mali is the fourth largest gold producer in Africa. The mineral accounted for 80% of its exports and represents some 10% of its GDP. The revenue paid by mining companies to the Treasury fell to 563.8 billion CFA francs […]
Morocco and the Chinese-European Gotion High-Tech Group, a leader in the field of electric vehicles, signed, on Thursday in Rabat, a strategic investment agreement worth 12.8 billion dirhams on the setting up of a comprehensive industrial ecosystem for the manufacturing of electric batteries in Kenitra. The investment agreement, signed at a ceremony chaired by Head […]
Germany has granted Morocco a €100 million loan to assist the Kingdom’s earthquake reconstruction program, alleviate the socio-economic burdens placed on the local population, and assist in managing the aftermath of the disaster that hit Morocco in September last year. The loan agreement was signed in Rabat on Wednesday by Minister in charge of Budget, […]
Morocco as an attractive investment destination was under the spotlights during the 10th edition of “The Africa Debate”, held Wednesday in London. The event, named “Morocco Investment Forum,” provided a platform to promote the wide range of opportunities Morocco is offering in different sectors, mainly renewables, telecommunication, and industry. The event focused on Morocco’s strategic […]
Tanger-Med is the fourth top-performing port in the world, according to the latest global Container Port Performance Index (CPPI). The Moroccan port is ahead of all European and African ports for the second consecutive year. Developed by the World Bank and S&P Global Market Intelligence, the fourth edition of CPPI is based on the biggest […]
Morocco and Palestine signed, Wednesday in Rabat, a memorandum of understanding (MoU) to strengthen industrial cooperation between the two countries. The agreement aims to strengthen collaboration and mutual recognition of compliance certificates, quality marks and halal labels between Morocco and Palestine. Minister of Industry and Trade, Ryad Mezzour, who co-signed the MoU with his Palestinian […]
The Moroccan government needs to increase its 2024 budget by 14 billion dirhams ($1.4 billion) to meet expenditures linked to subsidizing electricity prices and wage hikes, minister delegate in charge of the budget Fouzi Lekjaa said. In a presentation at the finance committee in parliament, Lekjaa recalled that the government has approved a decree to […]