First Independent Mena Newspaper
Attijariwafa bank has added a new trophy to its rich record of accomplishments at national and continental levels, after the prestigious international journal Global Trade Review named the banking institution as Leader in Trade in Morocco in 2020. This trophy rewards leading banks in terms of financing foreign trade in their country. The Casablanca-based Attijariwafa […]
The mining industry in Zambia, the country’s main provider of foreign exchange, brought in $60 to $65 million from February to April, compared to the $90 million expected. Zambia is the second largest copper-producing country on the continent. Severe global restrictions on movement have hit mining supply chains and hindered the export and sale of […]
The World Bank has approved a $48-million loan to Morocco to enable the country mitigate the impacts of the coronavirus pandemic which has so far infected 8,985 people in the North African Kingdom, killed 212, while 7,960 others recovered. The loan, which is part of an ongoing Program for Results project, approved in 2015, aims […]
Head of Moroccan employers association (CGEM) Chakib Alj said the key interest rate and reserve requirement cut to 1.5% and 0% respectively are conducive for an economic recovery from the repercussions of the coronavirus. These cuts give banks more flexibility in financing enterprises during this crisis notably SMEs, he told local media. The government has […]
Morocco’s central bank cut the key interest rate from 2% to 1.5% to shore up the economy and reduced the reserve requirement for banks to 0% to release more liquidity. The Bank revised downwards its forecasts for 2020 to -5.2%, the lowest rate since 1996, compared with 2.5% in 2019, as the coronavirus impact and […]
King Mohammed VI has ordered the shipment of medical aid to help 15 African countries in their efforts to deal with the coronavirus outbreak, the foreign ministry said. The medical aid is made of nearly 8 million facemasks, 900,000 face shields, 600,000 hygiene caps, 60,000 protective clothing and 30,000 liters of sanitizers in addition to […]
Car manufacturers are interested to maintain operations in Morocco where production costs are one of the most competitive globally, Industry Minister Moulay Hafid El Alamy said. Speaking to MPs, he denounced as baseless the claims that France will call back its car production plants because of the crisis caused by Covid-19. Thanks to Morocco’s competitiveness, […]
Revenue of Morocco’s private clinics and pharmacies dropped significantly, as many patients shun medical treatment over coronavirus fears. Head of Morocco’s private clinics association, Redouan Semlali, said revenue for most clinics dropped by 60 to 85% over the last two months with losses estimated at 100 million dollars. Quoted by L’economiste daily, Semlali said Damane […]
King Mohammed VI has instructed the Moroccan private sector to conduct massive testing to protect the employees and resume activity in a secure environment, as part of the participatory management of the Covid 19 pandemic. The Ministry of Health and the General Confederation of Moroccan Enterprises (CGEM) said in a recent joint statement that this […]
About 18.5 million facemasks have been exported by 69 Moroccan factories to 11 countries in the four continents, announced on Tuesday the Ministry of Industry and Trade. These certified masks, which have become a hot commodity during the ongoing coronavirus pandemic, were exported between May 21 and June 8 after the local manufacturers built a […]