First Independent Mena Newspaper
The International Finance Corporation provides al Amana Microfinance, one of Morocco’s largest micro lenders, $8 Million loan to support smaller businesses, especially those run by women. Under the partnership agreement sealed Wednesday, al Amana will use the money to extend its reach to more micro-entrepreneurs and informal enterprises. At least half of the proceeds will […]
The African Development Bank Group will lend Morocco €87 million to help the country implement the Support Program for the Generalization of Social Coverage. The primary objective of this operation is to consolidate the foundations of a viable social protection program based on an integrated and inclusive approach, said the African financial institution in a […]
The European Investment Bank (EIB) and Banque Misr have signed two technical assistance agreements to support small- and medium-sized enterprises (SMEs), Arab Finance reports citing emailed press release on July 6th. The first program will bolster Banque Misr’s credit risk management and help it adopt SME financing best practices. The second according to the statement […]
Morocco has hosted within four weeks three key events to leverage resources and spur joint action in favor of Africa’s financial resilience in the face of overlapping crises. Last month, Morocco hosted a meeting of African Union finance ministers to discuss common challenges and how to maintain steady funding for the continental organization. The same […]
The 2022 meeting of the African Consultative Group of Finance Ministers & Central Bank Governors of the 54 African Member States of the World Bank and the IMF wrapped up works Wednesday in Marrakech with the adoption of the “Marrakech Declaration”. The document urged the WB and the International Monetary Fund to provide “rapid, comprehensive […]
Morocco’s economic growth will slow down to 0.8% in the third quarter this year, compared to 8.7% the same period last year, the high commissioner for planning HCP said. The HCP mentioned the impact of the geopolitical tensions and imported inflation that has slowed the post-covid growth of the Moroccan economy. Global demand on Morocco […]
The exports of Moroccan automotive sector increased by 24.4% to over $4 billion during the past five months against $3.2 billion recorded the same period of last year, according to latest data released by Moroccan Foreign Exchange Office. However, the share of car sales in total exports slightly drops to 23.4% end of May 2022 […]
King Mohammed VI has called for more international support and cooperation to enable African countries to mitigate the impacts of the soaring inflation affecting the global economy and enhance their resilience in the face of external shocks. In a message to participants in the 2022 Meeting of the African Caucus of Finance Ministers & Central […]
Credit rating agency Moody’s affirmed Morocco’s outlook to stable from negative while it maintained its long-term issuer at BA1. Moody’s noted the recovery of Morocco’s real GDP to levels backed by solid crisis management capacities by the government during the pandemic, the agency said in a statement. “The improved governance track record underpins Moody’s expectation […]
Tunisia is starting this Monday formal talks with the International Monetary Fund (IMF) for a credit line to be used to prop up the sluggish economy of the North African country, a source at the Central Bank of Tunisia (CBT) told state-run news agency TAP. The team of the Washington-based international financial institution is expected […]