First Independent Mena Newspaper
The Special Fund for the Management of the Coronavirus Pandemic (COVID-19) has a positive balance of nearly 3.5 billion dirhams, according to the ministry of Economy & Finance. “This account has the necessary funds to acquire the vaccines and to honor all the financial commitments of the State which fall within its field of intervention”, […]
Morocco’s OCP group has announced that it would continue supplying fertilizers to US farmers despite the US decision to impose duties on phosphate fertilizer imports from Morocco. The US International Trade Commission (ITC) earlier this week rendered a decision that will result in the application of a 19.97% countervailing duty on phosphate fertilizer imports from […]
The World Bank has lent Tunisia $100 million for the financing of the covid-19 vaccination campaign in the North African country which still counts at least 1,037 active cases. The announcement was made by Férid Belhadj, World Bank Group Vice President for Middle East and North Africa on the sideline of a meeting with President […]
Morocco’s GDP is expected to increase to 4.5 pc in 2021 as the country’s economy is recovering from a 5.9 pc decline in 2020 after growing 2.5 pc in 2019, says the African Development Bank in its latest report. During the third quarter of 2020, Morocco’s exports of automotive parts and phosphate and derivatives rebounded […]
The US will donate $2.5 million to Morocco in support of its sustained vaccination campaign, the largest in Africa and one of the top 10 most successful in the world. A spokesperson for the US embassy in Rabat said that USAID has given Morocco 10.7 million dollars in support of its coronavirus response. It is […]
The Casablanca Finance City Authority (CFCA) and the Financial Services Development Council (FSDC) of Hong Kong have agreed to strengthen cooperation and share experiences for the development of financial services industry. The agreement was inked Wednesday remotely by CEO of CFCA Saïd Ibrahimi and Head of FSDC Dr Au King-lun. The two centers will conduct […]
The World Bank Vice-Pdt for the MENA region Farid Belhaj has voiced the bank’s readiness to increase its support to Morocco in social and economic sectors to enable the Kingdom take up development challenges. At separate meetings in Rabat with Head of Government Saad Dine El Otmani and Moroccan Minister of Economy & Finance Mohamed […]
The Moroccan government on Thursday adopted a draft law legalizing the use of cannabis for medical purposes. The law will enter into force after approval of the parliament and after it is published in the official bulletin. The draft law provides for the setting up of a national agency in charge of buying the plant […]
The Rwanda Stock Exchange (RSE) announced Tuesday the appointment of SCL Advisory Limited, a company founded and led by Moroccan Selloua Chakri, to help it expand its database and develop its activities around the world. “SCL Advisory Limited will support the Stock Exchange’s efforts to provide financial professionals and issuers with market data, analysis, and […]
The European investment bank provided Morocco last year with €617 million to support the Kingdom’s response efforts to covid-19, the private sector, SMEs and agricultural sector companies. The European bank has doubled in 2020 its funding to Morocco compared to 2019, said the bank in a press release, noting that it took wide-ranging action under […]