First Independent Mena Newspaper
French bank, Société Générale, has informed Morocco’s Central Bank of its intention to leave the country, as part of a plan to withdraw from the African continent, Central Bank governor Abdellatif Jouahri said. Moroccan media has reported over the past few days that the French bank was planning to sell its Morocco branch to Saham […]
The State Department has approved the sale to Morocco of Javelin missiles, an advanced portable anti-tank weapon system expected to strengthen further the Kingdom’s military capabilities. The North African Kingdom has requested to buy 612 Javelin FGM-148F missiles, (including twelve (12) fly-to-buy missiles) and two hundred (200) Javelin Lightweight Command Launch Units (LWCLUs). The $260 […]
Morocco’s central bank has decided to maintain the current key rate at 3 percent and expects the country’s economic growth to be limited to 2.1 percent in 2024, before rebounding to 4.3 pc in 2025. During its first meeting of 2024 held Tuesday in Rabat, the Board of Bank Al Maghrib said the key rate […]
East African central banks are being forced to hike interest rates to contain renewed inflationary pressures emanating from surging shipping and insurance costs due to the disrupted crucial trade routes between Europe, the Middle East, and Asia in the Red Sea. The ongoing Red Sea crisis, involving attacks by the Iran-supported Houthi group based in […]
Morocco’s flag carrier Royal Air Maroc (RAM) announced that it will launch, as part of its plan to strengthen its network and in preparation for the summer season, air routes from its Casablanca hub to Naples, Manchester, and Abuja, from June 22, 2024. The airline will resume direct flights to Naples, Italy, from June 22, […]
Côte d’Ivoire is in the process of meeting the criteria to join the OPEC, the country’s oil and mining minister amadou Sangafowa Coulibaly announced. This came few days after ENI said it found significant reserves of oil offshore Côte d’Ivoire, with a specific well in particular having as much as 1.5 billion barrels of oil […]
The French Development Agency (AFD) will contribute €134.7 million to the public policy budget and the support program of the 2022-2026 roadmap for the reform of Morocco’s national education system. The related loan protocol and financing agreement were signed in Rabat this Monday by Minister in charge of the Budget, Fouzi Lekjaa, and the French […]
UK Company Chariot has decided to conduct a strategic review of its “Transitional Power” division which is present in South Africa, providing sustainable power and water solutions in renewable energy generation and electricity trading. Since 2020, Chariot has built a transitional energy group spanning natural gas, renewables, and green hydrogen. As these divisions have grown, […]
Morocco has offered 1 billion dirhams so far in reconstruction aid to 51,300 households hose houses were totally or partially destroyed in the September 7 quake that hit the High Atlas. The government has offered 20,000 dirhams in a first stage aid to families to start rebuilding their homes and started disbursing a second batch […]
Morocco reported a legal harvest of 294 tons of cannabis, the first since the country allowed the cultivation of the plant for medical and industrial purposes, the national agency for the regulations of activities linked to cannabis ANRAC said. The news was first reported by le360 citing ANRAC which said it offered permits to farmers […]