First Independent Mena Newspaper
King Mohammed VI on Thursday launched, in Rabat, the construction works of the new Ibn Sina University Hospital Center, a futuristic project that will strengthen the Kingdom’s health offer with an over 1,000-bed capacity. This socially impacting project, requiring an investment of more than 6 billion dirhams, is part of a global vision to strengthen […]
Morocco’s exports of phosphates and derivatives doubled in the first quarter of 2022 reaching $2.4 billion against $1.3 billion reported same period last year. According to latest data published by Moroccan Exchange Control Office, the positive financial results achieved by the state-owned phosphate OCP group are due to fertilizers’ higher prices which surged from $296 […]
Brazil’s Agriculture Minister Marcos Montes is expected in Morocco this week to seek more fertilizers for his country after a halt of Russian exports, Reuters reported. Brazil relies on imports for about 85% of its fertilizer needs and is concerned about a potential global shortage of the products after Western nations imposed sanctions on key […]
Morocco is among the countries that reacted the fastest to the Covid-19 crisis, said Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) in an interview published by French magazine Le Point. The Kingdom has put in place several instruments of support and social protection, targeting mainly […]
The Moroccan government, the federation of employers CGEM and main labor unions agreed to raise the minimum wage of workers in the public and private sectors as well as family allowances, in a move that is key to maintaining social peace in the country. The government will raise by nearly 16% the minimum wage in […]
The OPEC Fund for International Development (OFID) will contribute $14.3 to the funding of the second phase of the Front-End Engineering Study (FEED) of the Nigeria-Morocco Gas Pipeline project. The legal documentation relating to the $14.3 million financing granted by the OPEC Fund to the National Office of Hydrocarbons and Mines (ONHYM) was signed Friday […]
Morocco’s potential in terms of investment attractiveness and its positioning as a hub towards Africa were under the spotlight during a meeting organized recently at the Chamber of Commerce, Industry and Service of Geneva (CICG), in the presence of an array of economic actors and Swiss business leaders. The meeting “Focus Morocco”, organized by the […]
Morocco’s Holmarcom group has taken control of Credit du Maroc, a subsidiary of French bank Credit Agricole. Holmarcom has bought all the 78.7% stakes owned by Credit Agricole in its Moroccan branch, in a move to strengthen its foothold in the finance and insurance business. Morocco’s Wafa Assurance and other stakeholders own 10.73% and 10.56% […]
Morocco will be home to a 30 hectare-algae farm that is designed to pull out CO2 from the air naturally, which runs the project said. Brilliant plant has been conducting trials since 2013 in Morocco’s desert using sea water to cultivate algae, a plant with potent capacities to remove carbon from the air naturally. “Following […]
The International Monetary Fund (IMF) on Wednesday hailed the “targeted measures” adopted by Morocco to mitigate the impact of soaring energy prices on economy. “The Moroccan government is today undertaking a set of targeted measures, including support for the transport sector of people and goods to relieve the rise in energy prices on production,” underlined […]