First Independent Mena Newspaper
The Algerian military regime which has been ruling behind a thin civilian curtain has long used its gas and oil money to buy social peace and quell dissent. But, with the fall in oil prices and the depletion of state coffers, Algerian citizens felt the pain of a dwindling purchasing power which augurs ill for […]
Morocco’s central bank has bought $471 million of excess foreign currency from the local market to absorb excess and ensure the good functioning of the market. The central bank said in a statement that it will maintain hard currency auctions as long as necessary depending on the evolution of the foreign exchange market. In recent […]
Bank of Africa of Moroccan BMCE Group has received a €25 million funding provided by the European Bank for Reconstruction and Development (EBRD), with the support of the Green Climate Fund (GCF) and the European Union (EU) to bolster Morocco’s green economy. The announcement was made Friday by the EBRD which contributed €18.75 million, while […]
The South African Rand Merchant Bank (RMB), in its latest “Where to invest in Africa” report, identifies Morocco as the second country on the continent with best investment-attractiveness thanks to its stability. The author of the report, RMB Africa Economist Daniel Kavishe indicated that Morocco’s economy continues to benefit from political stability. He also highlighted […]
Moroccan trademark Office (Office de la Propriété Industrielle & Commerciale – OMPIC) and the European Patent Office (EPO) have sealed an agreement on the Cooperative Patent Classification (CPC). The agreement, which was signed lately remotely by EPO Chief António Campinos and Head of OMPI Abdelaziz Babqiqi, opens up a new chapter of cooperation between the […]
Morocco will launch public utilities in every region to bring sewage management as well as electricity and water distribution under a single umbrella, local media reported. Under this reform, every region shall have its own utility to manage sewage along with water and electricity distribution as part of a push to promote advanced regionalization, Morocco’s […]
Nigeria, which has partnered with a foreign fintech company, will be a pioneer in Africa, as will its West African neighbor, Ghana, which has been testing its e-Cedi as a new medium of exchange since September. Central banks around the world are exploring ways to create digital versions of their currencies in response to the […]
A “Pact for the modernization of trade and investment between the European Union and the Kingdom of Morocco” has been adopted Tuesday by Business Europe, the Moroccan Employers’ Association (CGEM) and EuroCham Morocco. The document calls for a long-overdue modernization of the framework for EU-Morocco trade and investment relations, capable of unlocking the untapped economic […]
Morocco’s OCP Group and the Ethiopian government have signed an agreement to develop a fertilizer plant in gas-rich Dire Dawa in northern Ethiopia, for a total investment of up to $3.7 billion dollars, as announced by the Ethiopian Ministry of Finance. A visiting Ethiopian delegation led by the country’s Minister of Finance, Ato Ahmed Shide, […]
Acquiring advanced combat drones has featured as a main component of Morocco’s army modernization efforts with the receipt of 12 Turkish Bayraktar drones and news of an upcoming launch of the manufacturing of Israeli Kamikaze drones in the North African Kingdom. The first batch from Turkey, which is part of an order of 13 Bayraktar […]