First Independent Mena Newspaper
Since the call made last year by King Mohammed VI of Morocco, several initiatives have been launched targeting sectors such as education, training and youth issues with the aim of reducing social and spatial disparities. In a speech at the opening of the Parliament’s fall session Friday, King Mohammed VI said through such initiatives and […]
South African financial services company has strengthened its foothold as Africa’s largest insurance firm with the completion of the $1.1 billion purchase of Morocco’s Saham Finances SA after regulators approved the deal. The acquisition, which was sealed on October 9 and has entered into force on October 11, will help Sanlam boost presence in 33 […]
Morocco’s 2019 draft appropriation bill will give priority to social development notably in the fields of education, health and employment, said a statement read out by Spokesman for the Royal Palace, Abdelhak Lamrini. The appropriation bill was reviewed at the ministerial council chaired by King Mohammed VI Wednesday and will be submitted to the parliament. […]
Toyota Tsusho Corporation, supported by CFAO, its subsidiary, has won a $44 million contract to supply Morocco an oceanographic and fishery research vessel. The building of the research boat is expected to be completed in 2020 while delivery is scheduled for 2021. It will be built at the Mitsui E&S Shipbuilding Tamano Shipyard in Japan. […]
Algeria’s foreign exchange reserves dwindled by $8.72 billion to $88.61 billion in June 2018, the Algerian news agency APS said. The rise in oil prices has not helped Algeria reduce the pace of its dwindling reserves, which dropped from $114.1 billion in 2016 and from $178 billion in 2014. Analysts say that even with oil […]
Morocco and Russia will sign shortly an agreement on civil nuclear energy. The deal would be the first of its kind to be sealed between the two countries. The content of this agreement, proposed by the Russian side, has not yet been specified. The announcement of this project was made Thursday in Rabat by a […]
A new World Bank report forecasts growth in the Middle East and North Africa (MENA) to reach 2.8% by 2020, but calls for a regional push toward a new digital economy that would generate higher levels of growth. Growth in the MENA region is projected to rebound to an average of 2% in 2018, up […]
Morocco topped the podium of the biggest car producers in the African continent, outpacing South Africa, the Wall Street Journal reported. In 2017, Morocco’s two leading car factories in Tangier and Kenitra achieved a joint output of 376,000 cars, worth 70 billion dirhams. In South Africa, only 331,000 cars were made the same year. Between […]
Morocco will issue an international bond in 2019 said governor of the Central bank Abdellatif Jouahri, adding that the country may consider the renewal of the IMF precautionary liquidity line which expires this year. Jouahri was speaking to the press at a regular press conference in which he announced that the Central bank maintains its […]
Morocco’s BCP bank started talks with French BCPE bank to buy major stakes in four of its African banks. BCP said in a statement it aims at acquiring BPCE’s controlling stakes in Cameroon, Madagascar, Congo and Tunisia. The French bank owns 68.5% of Banque Internationale du Cameroun pour l’Épargne et le Crédit (BICEC); 71% of […]