First Independent Mena Newspaper
Four major dams with a total storage capacity of 1.42 million cubic meters will be built by 2027 in Morocco’s Northern Tangier-Tetouan-Al Hoceima region. According to director of the Loukkos Hydraulic Basin Agency Abdelhamid Benabdelfadel, the four dams, which will push up the region’s national storage capacity by 26 pc, will be constructed within the […]
Morocco’s trade deficit has slowed to 1.5% in 2019 partly due to a fall in energy imports and a rise in agricultural and automotive sector exports. The import bill was 491 billion dirhams while exports stood at 282 billion dirhams. Energy imports decreased 7.2%, representing 15.6% of all imports, thanks to lower prices in international […]
Moroccan producers of raspberry have received the green light from the US health and agricultural authorities to export their output to the American market which has grown significantly over the past few years. The announcement has just been made by Morocco’s food safety agency (ONSSA). Moroccan raspberries secured access to the American market after extensive […]
Agadir’s urban development program launched Tuesday at a ceremony held under the chairmanship of King Mohammed VI will propel the city in a new development era and consolidate its positioning as a regional economic hub. The new 2020-2024 program, worth $622 million, is based on a participatory approach involving the various stakeholders in the […]
The European Bank for Reconstruction & Development (EBRD) has approved a €20 million loan to Moroccan Bank “Crédit du Maroc” to boost green investment of SMEs and contribute to the development of value chains in the North African Kingdom. The EBRD funds will be extended as sub-loans to local SMEs that plan to invest […]
The African Export–Import Bank, Afreximbank, will lend Tunisia $1.3 billion to support public and private enterprises as well as public and private banks. Afreximbank director of trade financing Aymen El-Zoghbi said $500 million will be allocated to boost state-run and private companies. The remaining $800 million will be earmarked for supporting banks in private and […]
Joining word to action, King Mohammed VI supervised Tuesday the launch of an urban development program, meant to transform Agadir into an attractive and competitive economic hub. The Monarch, who was accompanied by Crown Prince Moulay el Hassan, also presided over the signing of the framework-agreement on the urban development program of the city […]
Morocco launched on Monday “Intelaka” initiative, which provides young entrepreneurs with the necessary support and funding to start their own business. The move gives substance to the integrated program spearheaded by King Mohammed VI to back SMEs and facilitate their access to financing. The “Intelaka” program was launched in a ceremony chaired in Rabat by […]
As the number of tourists visiting Morocco reached 13 million in 2019, scoring a growth rate of 5.2% between 2018 and 2019, the National Confederation of Tourism (CNT) presented over the weekend, in Marrakech, the 2020 roadmap, which aims to make Morocco an authentic destination “offering a diversity of experiences to share”. This tool, developed […]
Morocco’s phosphates and fertilizer producer, OCP, will start exporting fertilizers to Romania after the setting up of a company dubbed SEEFCO, which will be in charge of imports, stockpiling and marketing in the eastern European country, Moroccan media reported. The OCP’s SEEFCO, which stands for South East European Fertilizer Company, will operate in partnership […]