First Independent Mena Newspaper
South African Bank, Rand Merchant Bank (RMB), issued the sixth edition of its report “Where to Invest in Africa”, ranking Morocco third most attractive investment destination in Africa. Morocco came third in the ranking preceded by Egypt and South Africa in the report, which aims to serve as a guide to corporate investment. According to […]
Leading Moroccan bank, Attijariwafa Bank, is expecting its newly acquired Egyptian unit to be its major growth driver in coming years and is planning to expand its operations by adding new branches and hiring staff. The bank anticipates that the Egyptian operation will contribute 12% to 14% of its net income in 2018, with revenue […]
Egypt plans to issue a new $1.8 billion bond by the end of November and a new $10 billion Eurobond program next year, Finance Minister Amr El Garhy said on Monday. According to the official, the finance ministry would determine the currency of its next Eurobond issuance within two weeks. “The issue will be in […]
Morocco will have invested $40 billion by 2030 in projects aiming to develop the energy sector as it ambitions to derive 50% of its energy needs from renewable sources by the same year. “The Kingdom has succeeded, through an ambitious strategy, to turn its challenges into genuine investment opportunities, through its commitment to projects aimed […]
Lloyds, the world leader in insurance & reinsurance, is bracing to install its African base in Casablanca Finance City (CFC), says Moroccan newspaper l’Economiste. After several months of talks, Lloyds group has finally obtained CFC status, which allows the British firm to operate in Casablanca and sell its services & products to African countries. CFC, […]
On his way back from Astana where he attended a summit of the Organisation of Islamic Cooperation (OIC) in his capacity as president of the Non-Aligned Movement, President Maduro of Venezuela stopped in Algeria where he had talks on means to halt the oil price glut. Maduro could obviously not meet Algeria’s ailing President Bouteflika, […]
Bahrain’s Al Baraka Bank deems that the regulatory framework in Morocco is conducive for the launch of an Islamic finance venture. The Bank’s Chief Executive, Adnan Ahmed Yousif, told Reuters that the Bank targets the expanding Islamic finance in Morocco in effort to diversify assets and revenues in Africa. Morocco is attractive for Islamic banks […]
A delegation of India’s Titagarh Group is on a visit to Morocco to explore investments opportunities in the North African country’s expanding rail sector. Led by the Group CEO Umesh Choxdhary, the Titagarh delegation held talks with Moroccan officials including Morocco’s Transport, Logistics and Water Minister Abdelkader Amara. The Moroccan ministry announced in a statement […]
Spain’s car parts maker, Ficosa, is planning to set up in Morocco a plant specialized in producing in-vehicle cameras, Spanish media reported. The Catalonia-based Ficosa, which has been sold to Japan’s Panasonic last July, plans to invest €50 million in two new plants in Morocco and Malaysia respectively. The Moroccan factory will be located in […]
Sound Energy, the European and African focused upstream gas company, announced that it has received a funding proposal for its Tendrara gas export pipeline in eastern Morocco from Advisory & Finance Group Investment Bank. Sound Energy explained in a statement that after receiving a non-binding expression of interest from Oil & Gas Investment Fund (OGIF) […]