First Independent Mena Newspaper
Morocco’s General Confederation of Enterprises (CGEM) and the Israeli Employers and Business Organizations (IEBO) signed a strategic partnership agreement to promote economic and trade relations as well as technological development between Morocco and Israel. The partnership agreement was signed Monday during a videoconference by CGEM President Chakib Alj, President of IEBO and of Manufacturers Association […]
Queues in Algerian post offices of employees waiting to receive their salaries are getting longer as the country experiences a liquidity crisis combined with higher inflation that hit purchasing power of citizens. The cosmetic measures introduced by the government have not anticipated the cash crisis in the country where the banking system is one of […]
Morocco’s national railway operator (Office National des Chemins de Fer) has chosen French Alstom company to ensure the maintenance of new-generation PRIMA M4 electric locomotives. An agreement was signed Wednesday by the two partners. It comes after the contract won by Alstom Morocco in 2018 for the supply of 30 locomotives. Since then, fifteen PRIMA […]
Morocco’s phosphate group, OCP, has secured a $350 million loan facility from the African Export-Import Bank (Afreximbank) that will support the Group’s expansion plans across Africa. The Pan-African multilateral EXIM Bank announced earlier this week the signing of the 7-year $350 million term loan facility to provide financing to OCP Group. The bank, through its […]
Members of a visiting Basque economic delegation said they were “surprised” and “impressed” by the quality of infrastructure in the city of Laayoune, expressing their keenness to examine investment prospects in the Moroccan Sahara, particularly in the sectors of fisheries and renewable energies. “We were surprised and impressed by the infrastructures that exist in […]
The American Heritage Foundation Think Thank which has just published its Index of Economic Freedom 2021 ranked Algeria 162nd out of the 178 countries listed and 13th among 14 countries in the Middle East and North Africa region. Algeria’s economic freedom score is 49.7, making its economy the 162nd freest in the 2021 Index, the […]
The Polisario and its mentor Algeria failed once again in bringing a case in New Zealand against a sovereign fund that imports Moroccan phosphates. The high court in New Zealand has rejected a complaint by the Polisario against the sovereign fund which it said has authority to make investments in line with local laws. […]
American billionaire Mark Cuban is looking forward to investing in thriving sectors in Morocco such as Fintech and High-tech, according to several Israeli news outlets. The successful investor is the owner of the Dallas Mavericks basketball team of the NBA. He became a billionaire in 1998 at the age of 40 when he sold the […]
Moroccan authorities have awarded UK Altus Strategies Company (ALS) three new copper and silver exploration projects after it engaged in a competitive tender process. With these new projects, ALS increased its portfolio to seven base and precious metals projects in the Kingdom. “We are delighted to gain three new copper and silver projects in Morocco. […]
Morocco’s mining company Managem completed its partnership with China’s Wanbao to acquire 65% of Gabgaba gold mine in Sudan. The deal is in line with Managem strategy to develop its investments in Africa and develop its activities in Sudan, Managem said in a statement. Managem together with Wanbao will expand the Gabgaba mine […]