First Independent Mena Newspaper
Morocco’s OCP Group, the world leader in the fertilizers market, posted sales of 32.5 billion dirhams, in the first half of 2021, up 18.5% compared to the same period last year when sales amounted to 27.4 billion dirhams. In the second quarter of 2021, the turnover reached 18.19 billion dirhams, compared to MAD 15.13 […]
Swiss aircraft manufacturer, Pilatus, and Belgian aerospace company, Sabca, have sealed a deal for the assembly of PC-12 aerostructures in Morocco. The deal, which was inked Monday by Pilatus and Sabca CEOs in presence of Morocco’s minister of Industry Moulay Hafid Elalamy, will give impetus to aerospace ecosystem set up in the Kingdom to attract […]
Moroccan tomatoes have made big gains in market share and sales in the European Union during the few past years, according to Hortoinfo magazine. Morocco’s tomato exports increased to the EU during the last five years, while the Spanish and Dutch tomato sales in the EU have plummeted. In the first semester 2021, Moroccan tomato […]
Egypt-based investment company, Egypt Kuwait Holding Co SAE (EKH), will invest $500 million over the coming five years, CEO Sherif El-Zayat has revealed. El-Zayat said the company will invest $100 million a year and has made available $100 million to seize any acquisition opportunities during the upcoming period. In this vein, the firm already decided […]
The Moroccan government has approved the setting up of a National Financial Intelligence Authority to better combat money-laundering, terror financing and weapons proliferation. The establishment of this new entity comes following the recommendations issued by the Middle-East & North Africa Financial Action Task Force which has called for upgrading the country’s financial intelligence unit […]
The recent measures by the Tunisian President to dismiss the Prime Minister and disband parliament have been described as a “power grab” that may delay the financing deal with the IMF. Tunisia has struggled with endemic unemployment and an economic slow-down worsened by the Covid-19 crisis and pinned hope on a $4 billion loan package […]
Morocco has developed one of the globe’s most competitive automotive industry hubs and prepares to raise production to 1 million cars annually, US magazine “Automotive Industries” said recently. In a special issue on the car industry in Morocco, the media explained how Morocco was leveraging its ready access to the European automotive market with an […]
Morocco expects to add 650 million dollars to its foreign exchange reserves as part of $1.2 billion that will be offered to the country under the IMF’s Special Drawing Rights. The sum is to be unlocked by the IMF this August 23 after a historic approval by the IMF Board of Governors to allocate Special […]
Aya Gold & Silver, a precious metals mining company, has announced that it has identified a new mineralized zone, which stretches over four kilometers in length, at the level of the silver deposit of Imiter bis. Imiter bis silver deposit is located 150 kilometers from Ouarzazate and five kilometers from Managem’s Imiter Mine, which is […]
The European Bank for Reconstruction and Development (EBRD) has rubber-stamped the loan of $25 million for Egypt-based United Metals Company (UMC). The funding is aimed at backing the company’s working capital needs amidst the COVID-19 pandemic. The loan will enhance the Company’s financial resilience to withstand the potential negative implications of the COVID-19 pandemic through […]