First Independent Mena Newspaper
S&P Global Ratings agency maintained Morocco’s ratings at BBB-/A-3 while upgrading its outlook from negative to stable. The stable outlook reflects expectation that fiscal consolidation will continue over the next few years, which will help stabilize debt. “We could raise the rating if budgetary consolidation prospects materially improve or the ongoing transition toward a more […]
French automaker Renault is considering shutting down its plant in Algeria after authorities in the northern African country took measures to curb imports of car parts. The Algerian news agency APS said the French carmaker will close its plant next November after Algeria imposed measures to reduce bill of imports of semi knocked down and […]
American company Spirit Aero systems is reportedly the major bidder for the acquisition of the two bombardier plants in Morocco and Northern Ireland, said on Friday Reuters, citing sources familiar with the matter. However, no deal has so far been sealed and the negotiations are still underway. Both the Canadian aerospace firm and Spirit […]
The second Africa Blockchain Summit (ABS 2019) will be held in Morocco’s capital city of Rabat Nov.21 under the theme: “Blockchain at the service of the financial sector”. The event is organized by Bank Al-Maghrib (Central bank) and Paris Europlace in cooperation with HPS and Talan. It will bring together central banks, monetary and financial […]
The government of Tunisia plans to issue €800 million of bonds on the international debt market next year. “Initially, there is a plan to ask parliament for approval to issue bonds worth up to €800 million ($874.24 million) next year,” a senior official told Reuters Wednesday. The official noted however that it was too early […]
Morocco’s Banque Centrale Populaire, BCP, has acquired 68.5 per cent of Cameroon’s Banque Internationale du Cameroun pour l’épargne et le crédit (BICEC). Till that acquisition, the assets were owned by French group BPCE (Banque Populaire et Caisse d’épargne). The deal was signed Tuesday at BICEC headquarters in Douala, Business in Cameroon reports. Kamal Mokdad, […]
Standard Chartered which has recently released its Trade20 Index, identifying the 20 world economies with the greatest potential for commercial growth, has listed three African countries as rising stars of global trade. These are Côte d’Ivoire (top), Kenya (3rd) and Ghana (13th). The study, which examined 66 markets around the world, found that while existing […]
Japan and Morocco have agreed in principle on a tax convention that will promote further mutual investments and economic exchanges between the two countries, announced the Japanese Foreign Ministry on its website on Tuesday. The Convention includes provisions for the purposes of clarifying the scope of taxation in the two countries, eliminating international double taxation […]
The fall of Thomas Cook will cause a drop of 100,000 tourists pushing Morocco’s tourism promotion office to seek alternatives in France through opening new air routes operated by low-cost airlines. Fourteen additional routes were opened linking Moroccan and French cities. British low-cost airline EasyJet will operate two flights a week from Nantes to Agadir […]
Tourism is currently contributing about 6.25% to Côte d’Ivoire’s GDP thanks to the current tourism infrastructure and investments, Ivorian Minister of Tourism, Siandou Fofana said. According to the minister, the government is now focusing on the strategy “Sublime Côte d’Ivoire” whose implementation, “will list the country among the Top 5 African tourism destinations by 2025.” […]