First Independent Mena Newspaper
The positive performance of the Moroccan economy enabled North Africa to achieve the second highest growth rate of 4.9% at the African level, the African Development Bank said. The performance of the Moroccan economy, which saw growth rise from 1.2% in 2016 to 4.1% in 2017 gave a boost to North African posted the second […]
Morocco’s aviation industry is cruising full speed steadily and spreading its wings for takeoff. This is what the figures released by the aeronautics federation (GIMAS) show. The domestic sourcing rate of the sector jumped from 17% in 2016 to 29% in 2017, while exports value rose by 18.4 during the same period. This progress is […]
Credit rating agency Moody’s maintained Morocco’s BA1 positive ranking, and noted that the country’s credit strengths reflect a structural shift towards higher value-added export industries and fiscal improvements, which could lead to stronger non-agricultural growth and a stabilization and gradual reduction in public sector debt. “Morocco is strategically positioned within global value chains in the […]
ape-Town based insurer Sanlam said it will fully acquire Morocco’s SAHAM group insurance business in Africa in a $1.05 billion deal. The deal will give Sanlam access to SAHAM’s 26 markets across North Africa, the Middle East and West Africa and builds on its business that spans 11 African countries, India and Malaysia. SAHAM Finances, […]
IT spending in the Middle East and North Africa (MENA) is projected to boom to $155 billion in 2018, growing 3.4 % from last year, US consultancy Gartner Inc. said. The consultancy said at its annual three-day Symposium ITXPO that spending on software is expected to grow 12.7% in 2018, compared to 10.9% growth in […]
Around 40 pc of Morocco’s citrus production are exported to the EU, Morocco’s major trade partner, with 30-35 pc going to Russia and a further 15-17 pc to North America, while the local market absorbs 70 pc of the output. The Moroccan citrus industry is expected to produce 2.4 million metric tons (MT) during the […]
Morocco is preparing a new strategy to lure more tourists with the target of receiving 12 million tourists in 2018 and 15 million in 2020. After closing 2017 with a record number of 11.35 million tourists visiting the country, that is a 10% rise compared to the previous year, the tourism ministry will unveil a […]
The European Bank for Reconstruction & Development (EBRD) has provided the Tunisian banking and insurance software developer Vermeg a €25 million loan for the acquisition of Lombard Risk, a leading global provider of integrated regulatory reporting and collateral management solutions. Founded in 2002, Vermeg counts major internationally-renowned financial institutions and central banks in more than […]
Chairman of Casablanca Finance City Authority (CFCA), Said Ibrahimi, sees positive prospects in the horizons as CFC strengthens its position as Africa’s leading financial hub. Speaking at press conference Ibrahimi said that members of Casablanca Finance City (CFC) have so far contributed 75% of the overall investments carried out by Morocco in Africa. He said […]
Morocco’s automotive ecosystem is expanding and attracting more and more investors, upbeat over the North African Kingdom’s growth potentials in this very competitive sector. Among these investors, Nexteer automotive, which has unveiled plans to set up a new production facility in Kenitra, about 40 km to the north of Rabat. In a first stage, Nexteer […]