First Independent Mena Newspaper
France’s Société General plans to sell majority stakes in its Morocco banking activity to Saham, Moroccan media reported. Saham, owned by former industry minister Moulay Hafid Alamy, had reached a deal to buy 57% stake in the French subsidiary bank, Le360 said in an exclusive. The transaction to buy the fourth largest universal bank in […]
The “Just Transition” project aimed at supporting Morocco’s efforts to implement its climate policy was launched on Wednesday in Rabat, by the European Union and Morocco. The project, worth over €10 million (approximately 109 million dirhams), is co-financed by the German Ministry for Economic Cooperation and Development (BMZ) and the European Union (EU). Entitled “Just […]
Princess Lalla Asmae, youngest sister of King Mohammed VI, and the First Lady of Côte d’Ivoire, Dominique Ouattara, inaugurated, on Wednesday in Rabat, Lalla Asmae Foundation’s Hearing Diagnosis & Rehabilitation Centre and launched a newborn hearing screening program in the Rabat-Salé-Kenitra region at Moulay Youssef Hospital Centre. After cutting the inaugural ribbon, the Princess and […]
Morocco’s Mohammed VI Investment Fund and Moroccan banks (GPBM) signed a deal to allow private investors access to subordinated debt. The fund said it will allocate 4 billion dirhams to this financing mechanism that will be available starting from April. The new launched subordinated debt targets enterprises with a capitalization of 5 to 500 million […]
Somalia has finished the process of becoming a fully-fledged member of the East African Community (EAC) after it has ratified the accession treaty to an economic bloc that has some of Africa’s rapidly growing economies. Somalia joined Kenya, Tanzania, Uganda, the Democratic Republic of Congo, Burundi, Rwanda, and South Sudan, as part of the exclusive […]
Only days after the announced $35 billion deal with the UAE for the development of Ras al-Hekma on its Mediterranean coast, Egypt is reportedly also targeting investors from Qatar and Saudi Arabia offering them prime Red Sea coastal land in Ras al-Ghamila in South Sinai for sale as part of Cairo’s attempt to inject cash […]
The President of the United Nations General Assembly, Dennis Francis, has designated Morocco’s Ambassador to the United Nations, Omar Hilale, to co-facilitate the UN negotiation process relating to the modalities and the Political Declaration of the World Social Summit dubbed “Second World Summit for Social Development” which will take place in 2025. Hilale will conduct […]
Spain, which is one of Morocco’s key economic & political strategic partners, looks forward to the railway projects launched by the North African Kingdom to meet growing demand. “Morocco has just launched projects to develop its rail network and Spain is ready to contribute to these projects”, said Spanish Transport minister Oscar Puente Santiago following […]
Morocco’s biggest mining company Managem plans to raise 3 billion dirhams (300 million dollars) to finance its expansion plans in Morocco and Africa. The company said the capital increase will take place between March 14 and April 2 as it braces to start production at a gold project in West Africa known as Tri-K, with […]
The African Continental Free Trade Area (AfCFTA) has so far failed to boost Africa’s global trade participation that still stands at a mere 3%, according to a new report that assessed the progress in regional integration in the continent. African countries continue to conduct a greater volume of trade with countries beyond the continent rather […]