First Independent Mena Newspaper
The President of the World Bank Group (WB) David Malpass has welcomed Morocco’s proactive and anticipatory strategy to mitigate the effects of the health crisis. During a meeting held via videoconference with Minister of Economy & Finance Mohamed Benchaaboun, on the sidelines of the IMF/WB spring meetings, Malpass highlighted the readiness of the Bank to […]
OCP Africa, subsidiary of the state-owned Moroccan phosphate group (OCP) has teamed up with the International Islamic Trade Finance Corporation (ITFC) of the Islamic Development Bank (IsDB) to boost rice farming and enhance agriculture value chains in Côte d’Ivoire. Under a cooperation agreement inked this week, the ITFC will support OCP Agribooster program to be […]
Cement producer LafargeHolcim, listed with the Casablanca stock exchange, announced the completion of its new plant in Taroudant worth $330 mln with an annual capacity of 1.6 million tons. The new factory, which is set to start production in July, will supply cement for construction and infrastructure projects in the region of Souss and […]
The International Monetary Fund has lowered slightly its economic forecasts for Morocco saying the Kingdom’s growth is expected to reach 4.5 pc in 2021, while the Fund’s previous projections for the country were estimated at 5 pc. The IMF new outlook takes into account several internal and external factors including the high uncertainty that surrounds […]
China and Tunisia signed Tuesday inked a grant deal valued at around $14.2 million (TND40 million) earmarked for the financing of projects in the North African country. The signing took place between Tunisia’s top diplomat Othman Jerandi and his counterpart Zhang Jiang. The deal did not detail projects to be determined by both countries, Webdo […]
With the advent of the fourth industrial revolution (Industry 4.0), the Moroccan government wants to adopt innovative technologies such as intelligent robotics, artificial intelligence …combined with new approaches to data management to take up upcoming challenges. The goal is to enable local manufacturers and the supply chain save time, boost productivity, reduce waste and costs, […]
Morocco’s economic growth is expected to jump 14.5% in the second quarter this year after a growth of 0.7% in the first quarter, the high commission for planning said. The forecast is based on a 13.7% improvement in agricultural activity, the agency said as abundant rainfall bodes well for the crop year. Morocco’s economic growth […]
Car parts manufacturer Clayens NP Morocco has extended its production plant in Mohammedia, increasing the surface area of the plant by around 70%. The extension project, which required an investment of 73 million dirhams, will create 100 more jobs, bringing the plant’s total human resources to 550 people. It will also generate an additional […]
A Moroccan economic monitoring committee (CVE) decided to maintain aid to workers in sectors most hit by the pandemic until June. This financial aid benefits 102,000 workers in sectors handicapped by the Covid-19 outbreak, notably tourism, catering, events and other services whose normal activity halted due to the restrictive measures to contain the virus. These […]
The French Development Agency (AFD) has agreed to provide a €1.5 million (MAD 16 million) grant to the Moroccan Ministry of Tourism, Air Transport, Handicrafts and Social Economy, to help reinforce the social and solidarity economy (SSE) framework in Morocco. The financial aid is aimed at helping the ministry strengthen the national legal mechanisms of […]