First Independent Mena Newspaper
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 […]
Morocco’s Phosphate group, OCP, and Chinese Hubei Forbon, which specializes in fertilizer additives, have signed a comprehensive partnership agreement under which they will jointly develop a new generation of eco-friendly fertilizers. Under the partnership, the two companies will work together develop a new generation of high added-value fertilizers such as biostimulants, sulfur fertilizers, fertilizers with […]
The European Bank for Reconstruction and Development (EBRD) has announced a €4.3 million loan to Moroccan packaging company Multisac SA, which specializes in the production of woven polypropylene bags. It is the first local company benefitting from EBRD’s and EU’s Trade and Competitiveness Program, which aims to improve value chains and make businesses more competitive […]
Mauritanian Foreign Minister Ismail Ould Cheikh Ahmed called on Moroccan businessmen to grab the investment opportunities offered in his country. The Mauritanian minister who paid a two-day visit to Rabat sept.20-21 stressed the need for stepping up bilateral ties at all levels particularly in the economic field. He said Mauritania offers investment opportunities in the […]
Tanger-Med, one of the largest ports in the Mediterranean, took part on September 20-22 in the third Meeting of the African Economic Zones held by The African Free Zones Organization (AFZO). Themed “Economic Zones and Free Zones’ contribution to sustainable economic development in Africa,” the event brought together representatives of 30 African countries as well […]
King Mohammed VI has launched 3rd phase of the revamped National Initiative for Human Development (INDH), an ambitious socioeconomic plan destined to close the social gap, combat poverty and reduce social inequalities. The 3rd phase of the plan, to be carried out over a four-year period (2019-2023), will cost $1.9 billion. It seeks to support […]
Novares, a global plastic solutions provider, has opened its first production plant in North Africa, in the Moroccan city of Kenitra. The plant will supply the newly-opened PSA facility in Kenitra and Renault plant in Tangier. This new 10700 m² facility, equipped with a painting zone with a clean room and a clear coat application […]
Japanese automotive supplier JTEKT has launched the construction works of a plant to produce electric power steering systems. The plant, the Japanese group’s first in the MENA region, is located in Tangier. With an initial investment of $22 million, the factory aims to reach an initial production capacity of 300,000 units a year when it […]
German media and publishing group Bertelsmann has merged its customer service business with Morocco’s Saham, creating a new market leader in Europe, Africa and the Middle East. Each will hold 50% of the new company branded as Arvato, which operates in 25 countries with 48,000 employees on its payroll offering services across the market for […]
Morocco officially opened an office to attract more Indian tourists as the North African Kingdom seeks to diversify its tourism emitting markets. “This office of the Moroccan tourism promotion agency will help us in planning various strategic promotional and awareness programs to tap the robust tourism sector in India”, Morocco’s Tourism Minister said in New […]