First Independent Mena Newspaper
The Central People’s Bank of Morocco (BCP) has secured funds from Proparco and the African Development Bank, destined to upgrade its business financing in West Africa, mainly in Côte d’Ivoire, Guinea, Mali and Senegal, where the bank is operating through its subsidiary Banque Atlantique. BCP has thus signed Thursday in Casablanca a funding agreement with […]
Danone CEO was pushed to pay a visit to Morocco where a local subsidiary Centrale Danone is hit by a consumer boycott slashing sales and triggering layoffs. The CEO Emmanuel Faber met with families and youth who expressed their views on prices and quality. He then held a press conference in which he promised to […]
Japanese group Mitsui & Co. has injected over $27 million in the capital of Zalar Holding, an operator of grain, feed, and broiler integration businesses in Morocco and Senegal. The two sides also agreed to set up a strategic business alliance. Through this transaction, Mitsui & Co. looks forwards to contributing to food supply in […]
Imports continue to drain Algeria’s foreign exchange reserves, which are expected to end 2018 with $85 billion as the country reels under the drop in oil revenues. Reserves were at $90 billion by the end of May, almost less than half the $190 billion reserves registered in end 2014 prior to the oil price slump. […]
A delegation of the Royal Armed Forces recently visited the Ankara-based Turkish Aerospace Industries headquarters to negotiate the purchase of T-129 attack helicopters, the much coveted aircraft by international air forces. According to FAR-Maroc, a website specializing in defense issues, senior officers of the Royal Armed Forces have just made a trip to Turkey to […]
Morocco’s economy is expected to post a growth rate of 3.6% in 2018, the Central Bank said, revising upwards estimates of 3.2% in the appropriation bill. This growth is due to a rebound in agricultural added value by 5.7% as the country expects a good crop year with cereal production projected to stand at 98.2 […]
Rabat hosted Tuesday the launching conference of the European Union External Investment Plan (EIP) in Morocco that will pave the way to a better business environment and foster economic development. The EIP launching conference in Morocco was attended by Michael Köhler, European Commission Director for Neighbourhood South, and Moroccan Minister of Economy and Finance, Mohamed […]
The College of European Commissioners unanimously adopted the exchange of letters covering the Sahara region in the agriculture agreement with Morocco. The decision will be submitted to the vote of the European Parliament after a European Court of Justice decision on the Sahara. Sources from Morocco and the EU said that under the new agreement […]
Foreign investment in Algeria plummeted to $1.2 billion in 2017, a drop of 26 per cent compared to 2016, according to the UN Conference on Trade and Development (UNCTAD). The figures show Algeria’s perceived unfriendliness among foreign investors who are expecting genuine reforms that inspire confidence instead of superficial measures. In the Doing Business Index, […]
Africa practice, a pan-African strategy and communications consulting firm, has joined Casablanca Finance City, the 1st financial center in Africa, according to the 2018 Global Financial Center Index Set up in 2003, Africa practice advises some of the largest institutions, companies and investors on the continent. It operates from seven African offices and delivers assignments […]