First Independent Mena Newspaper
Morocco, which joined the International Energy Agency as an Association Country in November 2016, has signed a three-year joint work program with the IEA to deepen bilateral cooperation in the areas of energy security, energy efficiency, renewable energy, capacity building and data and statistics. Under the program, tailored to Morocco’s specific needs as it transitions […]
The launch of the gradual float of the Dirham to reach a flexible exchange rate regime will not lead to currency devaluation reassured Governor of Bank Al Maghrib, Abdellatif Jouahri. Speaking at a press conference in Rabat, Jouahri played down the speculations on risks of Dirham devaluation due to the currency float saying that the […]
IFC, a member of the World Bank Group, and Proparco, a subsidiary of Agence Française de Développement (AFD), are investing €100 million and €35 million, respectively, in the first green bond issuance by Banque Centrale Populaire (BCP), to promote sustainable, environment friendly projects in Morocco. This is the first green bond issuance in foreign currency […]
The Global Innovation Index 2017 ranked Morocco as the first innovative economy in North Africa and the third on the continental level preceded only by South Africa and Mauritius. The index, co-edited by Cornell SC Johnson College of Business, in partnership with INSEAD and the World Intellectual Property Organization (WIPO), showed that Morocco continues to […]
Moroccan automotive industry is gaining momentum and growing at a rapid pace due to incentives and competitive factors attracting more and more investors and makers of car parts. These factors include Morocco’s proximity to European market, modern infrastructures, free trade zones, qualified cheap manpower, open economy and stability. French car manufacturer Peugeot-Citroën has just launched […]
Islamic banking products in Morocco could expand their deposit bases by 5 to 10 pc, says Fitch Ratings, noting that the ability to grow the deposit base is positive for Morocco’s economic development because deposits represent about 70% of banking sector funding. “We expect growth of participation banks in Morocco will be high initially, as […]
The growing diplomatic rift between Qatar and other regional Doha as S&P downgraded its credit rating from AA to AA- while warning that further steps in this vein could follow. The decision was made late on Wednesday. The crisis has also reflected on the country’s stock market as it slipped by 9%. The riyal has […]
The automotive industry in Morocco has become the leading export sector, thanks notably to the investments of French automaker Renault Group that celebrated the export of 1 million vehicle made in its Moroccan plants of Tangier and Casablanca. “Renault is a success story that we would like to duplicate in other sectors,” said Industry and […]
Morocco has comparative advantage in terms of sharing experience and expertise in Africa, notably in renewable energies, an area of excellence in the North African Kingdom, said the Financial Times. In an article by Siona Jenkins titled, Morocco Capitalises on Early Lead in Renewables, the British paper sheds light on the continental leadership of Morocco […]
Moroccan firm, Nova Power, will build in Côte d’Ivoire a Photovoltaic power station with a total capacity of 25 megawatts for a total cost of 23.5 billion CFA francs, Local media said. The plant, to be built in Banguebogo, 570 km north of Abidjan, mirrors Cote D’Ivoire’s ambition to diversify energy sources through boosting the […]