First Independent Mena Newspaper
Morocco has taken a series of reforms to diversify the triggers of growth for its economy away from dependence on agriculture, phosphates and tourism through developing competitive industries and diversifying its trading partners. Agriculture weights about 15% of the Moroccan economy making the amount of rainfall key to influence economic performance. Last year, cereals output […]
Morocco will acquire AH-64 Apache military helicopters from the US within the next two years. The deal to purchase the Apache helicopters has been in the pipeline since April last year, but the timeframe of delivery has only just been revealed. “Morocco has a pressing need for new sophisticated attack helicopters,” a source told Moroccan […]
The Procter & Gamble Company has named Morocco’s Omar Channawi CEO for the Middle East, Africa and Global Development Markets. He will also be responsible for the Trade Division for Asia Pacific, India, Middle East and Africa, covering a total of 105 countries. Omar Channawi, currently Procter & Gamble Business Vice President for Asia-Pacific and […]
The main source of foreign direct investment in Morocco in 2018 was Ireland, which accounted for 30% of FDIs flows, according to preliminary figures released by the Office des Changes. Thus, out of a total of 34.16 billion Dirhams, Ireland injected in Morocco 9.68 billion Dirhams (+ 6 billion dirhams in one year). France took […]
Morocco has confirmed its position as one of the top performing African economies, topping the Moubarack Lo ranking of emerging countries in 2017. The ranking, published for the second time by the research Group “Institut de l’Emergence”, headed by Senegalese economist and statistics engineer Moubarack Lo, was released on Wednesday in Dakar. Based on the […]
The second Intra-African Trade Fair (IATF 2020) scheduled to take place in Kigali, Rwanda in September 2020 will target the execution of Intra-African trade deals worth more than $40 billion, President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah announced on Wednesday. The event, co-organized by Afreximbank and the African Union (AU), which is […]
The Istanbul-based Pegasus Airlines will launch in July its first route to Morocco, at Casablanca, marking its debut in the North African country. The new route, part of the carrier’s expansion on the African continent, will be inaugurated on July 8. The airline will propose four weekly flights to the Moroccan business city. Passengers will […]
Morocco’s automotive sector exports doubled from 161 billion dirhams in 2013 to 240 billion dirhams in 2018, thus becoming Morocco’s leading exporting sector ahead of phosphates and agriculture. With more than 65.1 billion dirhams worth of exports, the automotive sector came ahead of phosphates and derivatives (43.4 billion dirhams), textile (38.6 billion dirhams) food industry […]
The World Bank has approved a $55 million loan to Morocco to enable the country develop youth employability programs in the Marrakesh-Safi region within the frame of a new project destined to provide economic support to youths. This project will combine training for lower skilled youth, support potential entrepreneurs and investments in local businesses in […]
The International Finance Corporation (IFC) announced it has signed last week a €14 million loan agreement with KMR Holding Pédagogique (KMR), a leading pan-african higher education provider, to expand medical training in Morocco and Senegal and increase the number of health professionals in the two countries. KMR will use the financing to set up Morocco’s […]