First Independent Mena Newspaper
Sweden’s Trelleborg group has pledged to invest €11 million in its plant to be set up in Morocco’s aerospace industrial zone, located in Casablanca suburbs, which are housing facilities of major industry players such as Boeing, Airbus, Sabca, Safran, Eaton, Matis, Nexans, Thales, Pilatus Hexcel… The Swedish group joins the expanding ecosystem with its engineered […]
Morocco increased eightfold the area cultivated with legal cannabis to 2078 hectares as the number of permits for investors grew to 161. Speaking to Asharq, head of the national agency for the regulation of the activities linked to cannabis, Mohamed Guerrouj, said these figures reflect the success of legalization among farmers and investors alike. “This […]
A new assessment by the Policy Center for The New South put the material damage of Sept 8 earthquake at 3 billion dirhams ($300 million), accounting for nearly 0.2% of Morocco’s GDP. The quake which hit vast swathes in the High Atlas mountains killed 3000 people and damaged 59,674 buildings, of which 32% were destroyed […]
Shell said it will ditch its downstream business in South Africa by divesting its shares in a local company, ending 120 years of operations there. “Shell has decided to reshape the downstream portfolio and intends to divest our shareholding in Shell Downstream SA (SDSA). Considering SDSA’s illustrious history, this decision was not taken lightly,” the […]
A recent opinion poll found that China is now more popular in Africa than the United States. Yet, this popularity apparently goes hand in hand with a backlash the Chinese face in a growing number of African countries, with many accusing them of “malicious” behavior. According to a recent Gallup polling, 58% of respondents in […]
U.S.-based tech startup company Iozera has announced plans to set up a 386MW Data Center and artificial intelligence hub in the northern Moroccan city of Tetouan. The $500 million project will operate with renewable energies thanks to Morocco’s leadership in the sector. Iozera says it is designed to democratize access to advanced AI computing resources, […]
The sub-Saharan African region that holds about 30% of the world’s proven critical mineral reserves can be transformed if it can take the opportunity to develop critical minerals markets and processing industries to maximize the potential of the coming boom, the IMF’s latest Regional Economic Outlook says. The global transition to clean energy is set […]
King Mohammed VI highlighted the relevance of Morocco’s Atlantic initiative that aims at promoting regional integration by offering landlocked Sahel countries access to the Atlantic and global trade. This came in a speech read on the King’s behalf before the 15th Summit of the Organization of Islamic Conference (OIC), held in Banjul April 4-5. In […]
Morocco’s stock exchange is on a charm offensive in London to promote initial public offerings and expose merits of listing for companies that seek to boost liquidity. Speaking to Reuters, head of Morocco’s stock exchange Tarik Senhaji said he expects the bourse to attract 3 to 5 IPOs annually. The reform of state-run enterprises would […]
Morocco’s trade deficit dropped to 61.9 billlion dirhams, down 14.6%, thanks to higher exports and lower imports, the foreign exchange office said. Morocco’s automotive sector topped exports with 38.8 billion dirhams, up 13%, offsetting a 2.3% drop in phosphates exports at 17.6 billion dirhams. Morocco’s energy imports dropped in value by 13.6% to 28 billion […]