First Independent Mena Newspaper
Moroccan subsidiary of French diary company Centrale Danone has announced heavy losses estimated at 150 million Dirham for the first half of the year due to a continuing consumer boycott. The boycott was launched on April 20 and caused the company to suffer a steep deficit after posting 56 million Dirham profits the same period […]
Moroccan Minister of Agriculture Aziz Akhannouch and Tariq Sijilmassi, Chairman of banking Group Crédit Agricole, chaired on Tuesday, in Rabat, the signing ceremony of an agreement with the farmers’ cooperatives and their Union (UNCAM) and the National Federation of millers. Under the agreement, Crédit Agricole bank will provide agricultural cooperatives soft loans to enable them […]
Despite a sizable fiscal consolidation in 2017, the fiscal and current account deficits remain large in Algeria, which continues to face important challenges posed by the fall in oil prices four years ago, the IMF said. The fall in oil revenues was mostly felt in Algeria’s reserves which fell by $17 billion to $96 billion […]
Morocco has a booming aeronautics industry attracting world giants from Bombardier to Boeing bringing the local sourcing rate to 29% currently with the goal of reaching 35% by 2020. The industrial clusters created to support this industry have proven their efficiency towards increasing the local sourcing rate up from 17% in 2016. Industry Minister, Moulay […]
As it continues its sealed border policy with neighbors, combined with import restrictions, Algeria deepens its isolation in a dynamic African continent, further undermining prospects of economic diversification away from oil and gas. In a two-speed Africa where countries post two-digit growth rate, Algeria lags behind due to the short-sightedness of its leaders who failed […]
Morocco’s thriving automotive industry continues to attract foreign investors and car parts markers looking for business and growth opportunities. Among these investors, Adient, the global leader in automotive seating, which has announced the opening of its first plant in the North African Kingdom. The plant, based in Kenitra, will expand Adient’s fabrics business, which designs […]
The UK-based mining exploration company Altus Strategies Plc is expanding its presence in Morocco. Through its 100% owned subsidiary Aterian Resource Ltd, this company has obtained new exploration licenses for zinc and copper in the North African Kingdom. The new permits will enable Altus engineers to carry out exploration works in Ammas, Takzim Est and […]
A consumer boycott hit Morocco’s market leader for milk, Centrale Danone, which announced laying off temporary contract workers and a 30% reduction in the amount of milk it collects. The boycott started 40 days ago and gained large support among citizens. A survey on L’economiste showed that 42% of Moroccans are boycotting Centrale-Danone along with […]
Morocco’s pharmaceutical industry covers 60% of the needs of the local market, said health minister Anass Doukkali. He underscored the potential of the pharmaceutical industry, which now represents 2% of Morocco’s GDP, adding that 10% of the medicine produced in Morocco is exported to foreign markets. Doukkali, who was speaking at a Francophonie event, said […]
The celebration of the international Africa Day is an occasion to shed light on the South-south cooperation approach adopted by Morocco under the leadership of King Mohammed VI yielding concrete projects that address the continent’s pressing challenges. By matching words with action, Morocco geared the bulk of its foreign direct investments to help African countries, […]