First Independent Mena Newspaper
Morocco plans to increase spending on social protection to 5 billion dollars annually, covering mandatory health insurance, direct cash handouts to needy social categories, and housing acquisition aid, head of the government Aziz Akhannouch said. Speaking to members of Parliament, Akhannouch said the measures are in implementation of the King’s directives to move towards a […]
Mauritania and the Islamic Development Bank (IsDB) signed Monday October 23 a new support strategy framework agreement under which the Saudi Arabia-based institution will provide further assistance to the North African country in the 2024-2026 period. Abdessalam ould Mohamed Saleh, Mauritania’s Minister of Economy and Sustainable Development and the IsDB President Muhammad Al Jasser signed […]
Egyptian holding company GYPTO pharma and several other local companies signed Monday $129.44 million worth of contracts with Saudi Arabian Med City Pharma company to transfer drug manufacturing technology and production to the kingdom, ‘Ahram Online’ reports. Under the deal, GYPTO Pharma will also manufacture some of its drug brands in Med City’s factories in […]
King Felipe VI of Spain highlighted, Monday in Bilbao, the importance of his country’s relations with Morocco and underlined that Morocco has “economic sectors with high potential.” “Morocco is a country with high potential economic sectors,” King Felipe VI said in an address delivered at the opening of the 26th National Congress of Family Business, […]
The Moroccan government has increased its general budget by 6.3% to about 62 billion dollars to meet increasing spending on social safety nets, earthquake reconstruction, job creation, and economic development. Speaking to members of Parliament, Finance Minister Nadia Fettah Alaoui said the government will also increase its public investment budget by 35 billion dirhams to […]
As many as 34 people dealing with funds in several State entities, including the office of the President, have been banned from leaving the country amid an ongoing investigation into alleged funds embezzlement. Aly Touré, the Prosecutor of the Court for the Repression of Economic and Financial Offenses (CRIEF) has targeted the people in question […]
Morocco was the top outperforming destination of the Greenfield Foreign Direct Investments (FDI) in 2023, as it attracted worldwide commitments totaling $34 billion worth of investment projects. These pledges are projected to double the previous all-time high of $15.8 billion set in 2008, fDi Markets said in a recently released report. The North African country […]
The Critical Minerals Africa 2023 summit was held in Cape Town this week (17-19 October), with a high-level ministerial panel addressing the future of African mineral resource development, as the continent’s mineral reserves gear up to power a global energy transition. The Critical Minerals Africa 2023 summit, organized by Energy Capital & Power, serves to […]
As world leaders gathered in Beijing for China’s Belt and Road Initiative (BRI) forum this week, analysts see China as making a renewed focus of its development drive on poorer countries in the global south, notably in Africa, as the country’s relations with the West become increasingly frosty. China’s financial support for projects in nearly […]
Morocco’s automotive exports reached $8.8 billion between January and August this year, a jump of 35.6% year on year, says “FDI Intelligence” in its latest report on the investment opportunities offered in the North African Kingdom. This impressive growth highlights the sector’s leading position in the country’s overall exportation, as it outperforms the sectors of […]