First Independent Mena Newspaper
The weather has been clement for Morocco this year after generalized rainfall that promises better crop year and bigger wheat yield, Reuters reported. Citing wheat traders, the agency said that Morocco may harvest 10 million tons of cereals this year, up from 3 million last year, which means less imports. Morocco imports usually 2 to […]
Morocco is putting the final touches on the Takaful insurance key to a growing participatory finance triggered by real estate mainly. Speaking at a national insurance seminar, Central Bank Governor Abdellatif Jouahri said Takaful will be launched soon as the main stakeholders are working together to finalize it. A law on Takaful was approved by […]
Morocco’s state-owned OCP Group, the world’s largest phosphate mining and leading fertilizer company, and the Eastern & Southern African Trade and Development Bank (TDB) announced on Tuesday $400 million fertilizer trade finance transactions sealed via blockchain technology. Some $270 million of this deal have already been completed, while the remaining sum will be finalized in […]
The Morocco Africa Cultures and Developments Organization (OMA) and a Nigerian business delegation signed, Monday in Rabat, a partnership agreement providing for the setting up of a Nigeria-Morocco Business Council. By bringing together business operators from the two countries, the council will help support the various memoranda of understanding signed by the heads of […]
Morocco’s Central Bank (Bank Al-Maghrib) and its Hungarian peer Magyar Nemzeti Bank (MNB) have agreed, under an agreement, to foster their cooperation in banking digitalization and innovation in financial services. The agreement, which was signed on Monday, also deals with risk management related to digitalization as well as cybersecurity and digital transformation. Speaking on this […]
Morocco’s agricultural exports were boosted thanks to abundant rainfall this year, the agriculture ministry said. Some 4.9 million hectares have been sowed mostly with cereals, the main staple for the Moroccan population. although the accumulated rainfall remains 5% below an average year, it stood at 271 mm far better than last year auguring well for […]
The OCP Group continues to strengthen its skills in the most specialized fields. Another important step has just been taken with the signing of an agreement between OCP Maintenance Solutions and the Canadian company Nucléom, a world leader in high-level industrial inspections. Thus, the subsidiary of the OCP Group specializing in predictive maintenance and […]
Amethis MENA Fund II, which is exclusively dedicated to North Africa and the Middle East, has announced the signing of a majority investment in Magriser Group, one of the pioneers in the distribution and installation of turnkey micro-irrigation and solar pumping systems in Morocco. This is the first operation of Amethis MENA Fund II, dedicated […]
Nigeria’s President Muhammadu Buhari thanked king Mohammed VI for the success of a Moroccan-Nigerian project under which Morocco will build a 1.3 billion fertilizers plant in Nigeria. ‘’We are well on our way to becoming a regional and global fertilizer power house,’’ said President Buhari on his official twitter account after announcing the signing by […]
Morocco’s phosphates and fertilizers producer OCP posted a 4% increase in its revenues in 2020 to 56.2 billion dirhams as volumes offset a drop in prices. The group said exports of phosphates-based fertilizers rose 12% following higher demand in India and Brazil. ‘’OCP achieved significant growth in 2020, one of the most challenging business periods […]