First Independent Mena Newspaper
African-focused start-up Andela has raised $100m in a tour in United States, led by Al Gore’s Generation Investment Management. Andela, founded in 2013 to train African software developers and help them get hired by global companies, said it would use the most recent cash injection to expand the business and improve its internal data tools […]
Morocco has attracted a steady flow of foreign direct investment, unlike the rest of North Africa, which has seen a sharp decline in FDI, said the Financial Times in a story published Thursday. While many economies in North Africa have struggled to bring back foreign investors, Morocco has fared better than most. It has a […]
Morocco closed 2018 with a record number of 12.3 million tourists visiting the country, that is an 8.3% rise compared with 2017, the tourism ministry said. Tourism revenues rose to 73.15 billion dirhams in 2018, from 69.7 billion dirhams in 2017, making the sector one of the main sources of hard currency for Morocco. With […]
The International Monetary Fund (IMF) in a report released on Wednesday announced that the economy of Sub-Saharan countries should rise this year. In its World Economic Outlook Update, titled ‘A Weakening Global Expansion’, the Washington-based Fund indicated that economic growth in Sub-Saharan Africa should pick up in 2019, forecasting a 3.5 per cent growth for […]
The European Union announced Wednesday it adopted a financial assistance package worth €305 million to Tunisia, which is the highest amount ever allocated under the European Neighborhood Instrument. The funds will assist the North African country create jobs for youth, close gaps among local communities, promote entrepreneurship and improve living conditions. “This record financing reflects […]
The European Parliament’s Committee on Fisheries adopted Wednesday (Jan.23), by a large majority, the fisheries agreement between Morocco and the European Union (EU). The decisive vote of this committee, which decides on substantive issues, is the final step in the European Parliament’s specialized committees before the ultimate adoption in a plenary session expected to take […]
The Italian government has donated €1.5 million ($1.7 million) to the United Nations Relief and Works Agency for Palestinian Refugees (UNRWA) to provide health services for Palestinian refugees in Lebanon while Russia has pledged $10 million. UNRWA has been raising money to support refugees in Palestinian territories after the U.S., known as the largest contributor […]
Negotiations are underway for the launch of a direct air route between Morocco and China by the end of 2019, head of Morocco’s tourism promotion office ONMT said. The new link will depart either from Morocco’s economic hub Casablanca or from Marrakech, the Kingdom’s tourism hub towards either Beijing or Shanghai, the ONMT chief said. […]
French carmaker Renault topped the podium of car sales in Morocco with a market share of 42% in 2018, that is 75.418 cars. A report by Renault said that Morocco remains the main market for the group where it has production plants in Tangier and Casablanca. Last October, Renault said it will bring up its […]
Morocco’s fisheries output stood at 1.31 million tons in 2018, unchanged from 2017 levels, the national fisheries office (ONP) said. The value of the 2018 catch is estimated at 7.3 billion dirhams the ONP said, noting that most of the catch took place on the Atlantic coast with 1.28 million tons with the rest on […]