First Independent Mena Newspaper
Morocco’s central Bank has teamed up with the International Finance Corporation (IFC) to improve SMEs access to finance through the development of Supply Chain Finance (SCF), which enables both buyers and suppliers to optimize their working capital, improve cash flow, and receive early payment on invoices. An agreement has been sealed lately between Bank Al-Maghrib […]
The European Investment Bank (EIB) has lent Morocco’s National Electricity and Drinking Water Company (ONEE) €37.5 million to rehabilitate and improve water supply and distribution infrastructures in the country. An agreement was signed Friday by the two sides. The EIB funding will help the North African Kingdom to cut greenhouse gas emissions by reducing water […]
A delegation including the ambassadors of Jordan, Saudi Arabia, Oman and Yemen to Morocco visited Dakhla on Thursday to explore the investment opportunities and economic assets in the region. This visit, organized by the Dakhla-Oued Eddahab Regional Council in cooperation with the Diplomatic Foundation, is part of initiatives aimed at informing representatives of foreign delegations […]
The Kingdom’s airports received, during the week from June 15 to 21, 195,547 passengers and 1,857 air flights (international arrivals and departures), according to the National Airports Office (ONDA). Casablanca-Mohammed V airport, the Kingdom’s leading airport platform, received more than 43% of this overall number, with 762 flights carrying around 84,100 passengers, followed by that […]
Morocco’s mining leader Managem said it has produced a first gold bar at its Tri-K mine in Guinea, where it started gold production on June 23. Managem expects to produce 130,000 ounces of gold annually. The company has announced earlier this year that it will start production at the mine where reserves exceed 1.56 million […]
The International Finance Corporation (IFC) intends to support the Moroccan government in its multiple reforms to ensure post-Covid economic recovery and plans to invest $300 million for fiscal year 2021. In this vein, the IFC and the Ministry of Economy and Finance signed Wednesday Wednesday a memorandum of understanding to strengthen their partnership and stimulate […]
Morocco’s growth is expected to reach 5.3% in 2021, and to consolidate to 3.3% in 2022, according to the Kingdom’s Central Bank (BAM). “Growth would reach 5.3 percent this year, driven by a 3.6 percent increase in the value added of non-agricultural activities and a 17.6 percent rebound in the agricultural sector”, the bank […]
Morocco’s central bank governor Abdellatif Jouahri said that defending Morocco’s territorial integrity and supreme national interests takes primacy whatever the cost. Answering a question about the recent spat with Spain, Jouahri was clear-cut saying that Morocco’s response was not dictated by economic calculations but rather by the quest to safeguard the nation’s supreme interest. Morocco […]
Money sent home by Moroccans living abroad represented 20% of overall foreign exchange reserves held by Morocco, head of the government Saad Eddine El Othmani said. Despite the pandemic, remittances proved resilience and showed the values of solidarities held dear by Moroccans. Total remittances stood at 7.4 billion dirhams in 2020, up from 6.9 billion […]
Morocco aims to increase non-phosphate mining revenue to 1.6 billion from 730 million dollars in 2020, the energy and mining ministry said in its newly unveiled 2025-2030 development plan. The plan also provides for raising investments in prospection and research to 450 million dirhams, the ministry said. The mining sector contributes by up to 10% […]