First Independent Mena Newspaper
ape-Town based insurer Sanlam said it will fully acquire Morocco’s SAHAM group insurance business in Africa in a $1.05 billion deal. The deal will give Sanlam access to SAHAM’s 26 markets across North Africa, the Middle East and West Africa and builds on its business that spans 11 African countries, India and Malaysia. SAHAM Finances, […]
IT spending in the Middle East and North Africa (MENA) is projected to boom to $155 billion in 2018, growing 3.4 % from last year, US consultancy Gartner Inc. said. The consultancy said at its annual three-day Symposium ITXPO that spending on software is expected to grow 12.7% in 2018, compared to 10.9% growth in […]
Around 40 pc of Morocco’s citrus production are exported to the EU, Morocco’s major trade partner, with 30-35 pc going to Russia and a further 15-17 pc to North America, while the local market absorbs 70 pc of the output. The Moroccan citrus industry is expected to produce 2.4 million metric tons (MT) during the […]
Morocco is preparing a new strategy to lure more tourists with the target of receiving 12 million tourists in 2018 and 15 million in 2020. After closing 2017 with a record number of 11.35 million tourists visiting the country, that is a 10% rise compared to the previous year, the tourism ministry will unveil a […]
The European Bank for Reconstruction & Development (EBRD) has provided the Tunisian banking and insurance software developer Vermeg a €25 million loan for the acquisition of Lombard Risk, a leading global provider of integrated regulatory reporting and collateral management solutions. Founded in 2002, Vermeg counts major internationally-renowned financial institutions and central banks in more than […]
Chairman of Casablanca Finance City Authority (CFCA), Said Ibrahimi, sees positive prospects in the horizons as CFC strengthens its position as Africa’s leading financial hub. Speaking at press conference Ibrahimi said that members of Casablanca Finance City (CFC) have so far contributed 75% of the overall investments carried out by Morocco in Africa. He said […]
Morocco’s automotive ecosystem is expanding and attracting more and more investors, upbeat over the North African Kingdom’s growth potentials in this very competitive sector. Among these investors, Nexteer automotive, which has unveiled plans to set up a new production facility in Kenitra, about 40 km to the north of Rabat. In a first stage, Nexteer […]
Bank Al-Maghrib, Morocco’s Central Bank, and the International Finance Corporation, member of the World Bank group, held Thursday an international conference on Public Credit Registry best practice, focusing on how credit reporting data can support regulators’ institutional functions and help ensure financial stability. The joint work is part of a wider project aiming to strengthen […]
President of The European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti, who is paying a visit to Morocco underscored that EBRD will continue supporting Morocco in priority areas such as promoting youth employment, facilitating the setting up of SMEs and encouraging green economy projects. Chakrabarti said, during a meeting with the head of government […]
Banque Centrale Populaire (BCP), one of Morocco’s three biggest lenders, continues its expansion in Africa with the acquisition of Banque des Mascareigne in Madagascar and the opening of a subsidiary in Mauritius, thus becoming the first Moroccan bank to operate in the island. With this acquisition, BCP reinforces footprint in the Indian Ocean as part […]