First Independent Mena Newspaper
Moroccan Holmarcom Group has bought a 51 pc stake in Kenya’s Monarch Insurance Company for an undisclosed sum. The transaction, which is subject to approval by Kenya’s competent authorities, will enable Holmarcom to become the majority shareholder along with Kamu Group and Maisha Bank. The Moroccan private group operates in finance, insurance, agribusiness, distribution, logistics […]
Head of the special committee on the new development model, Chakib Benmoussa, submitted the final findings of the committee in a detailed report to King Mohammed VI, the Royal office said Tuesday, adding that the new model shall serve as a National Pact for Development. The report was commissioned by the Monarch as part of […]
President of the European Bank for Reconstruction & Development (EBRD), Odile Renaud-Basso has voiced the Bank’s strong commitment to support Morocco’s economic recovery, regional integration, green economy, youth employment and gender equality. Mrs. Renaud-Basso made the remarks during her virtual talks Monday and Tuesday with Moroccan officials including ministers of economy Mohamed Benchaaboun and Foreign […]
Morocco and Mauritania are bound by excellent political relations and are set to foster their economic ties as they prepare for a high joint committee in that regards, said Moroccan and Mauritanian foreign ministers at the end of a meeting in Rabat this monday. Moroccan Foreign minister Bourita highlighted the positive development in bilateral […]
Since the COVID-19 epidemiological situation in Morocco is gradually improving as evidenced by a drop in the number of new cases, deaths, cases in intensive care, as well as a drop in the virus reproduction rate, the government has decided to cut the duration of the night curfew nationwide. The curfew that ran from 8 […]
Morocco’s tourism sector still reels under the impact of the pandemic with a drop in arrivals to 430,000 tourists in the first quarter of 2021, down 78% from last year, and plummeting revenue to 5.3 billion dirhams, Morocco’s tourism minister Nadia Fettah Alaoui said. The impact of the global health crisis on tourism in Morocco […]
The Japan International Cooperation Agency (JICA) will contribute to the financing of Morocco’s territorial development projects with a $165 Mln loan. The loan agreement was concluded recently between JICA and le Fonds d’Equipement Communal (FEC), which is trying to diversify its sources of financing on an international scale. This comes as Morocco is embarking on […]
Tunisia’s finance minister returned from the US with a grant of $500 million intended to finance infrastructure projects. “Our visit to Washington was important and fruitful with International Monetary Fund, World Bank and American officials”, minister Ali Kooli told Reuters. Kooli was in Washington to start discussions about a new loan program with the IMF. […]
The European Union has contributed up to one million euros to a twinning project between French and Tunisian public television with the aim of modernizing the North African country’s state-run television, Business News reports. The project to span over 24 months aims chiefly at backing the modernization of Tunisia’s public media in line with the […]
As the world is celebrating this May 10 first- ever International Argan Tree Day, Morocco announced plans to speed up the process of planting argan trees to meet a growing international demand for argan oil and byproducts due to their health benefits. So, 50,000 hectares will be planted with argan trees by 2030 in the […]