First Independent Mena Newspaper
A new World Bank report forecasts growth in the Middle East and North Africa (MENA) to reach 2.8% by 2020, but calls for a regional push toward a new digital economy that would generate higher levels of growth. Growth in the MENA region is projected to rebound to an average of 2% in 2018, up […]
Morocco topped the podium of the biggest car producers in the African continent, outpacing South Africa, the Wall Street Journal reported. In 2017, Morocco’s two leading car factories in Tangier and Kenitra achieved a joint output of 376,000 cars, worth 70 billion dirhams. In South Africa, only 331,000 cars were made the same year. Between […]
Morocco will issue an international bond in 2019 said governor of the Central bank Abdellatif Jouahri, adding that the country may consider the renewal of the IMF precautionary liquidity line which expires this year. Jouahri was speaking to the press at a regular press conference in which he announced that the Central bank maintains its […]
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 […]