First Independent Mena Newspaper
The production of the millionth car by the Tangier Renault plant marks the success of a unique public-private partnership putting Morocco on the map of the global automotive industry, said Industry and Investment Minister, Moulay Hafid Elalamy. Speaking Monday at a press conference on the occasion of the celebration of the export of the millionth […]
Morocco registered a trade surplus in its trade with Sub-Saharan Africa, which jumped from 1.3 billion dirhams in 2008 to 11.9 in 2016, said Morocco’s Foreign Exchange Office. Morocco’s trade with Sub-Saharan African countries posted a steady growth averaging 9.1% during the 2008-2016 period, said the Office in a report on trade between Sub-Saharan Africa […]
UK Sound Energy Company has reported success in its operations carried out in Koba-1 well at Sidi Moktar, onshore in Morocco. The company engineers have successfully re-entered, completed, perforated and flared gas at surface from the Argovian reservoir (historically the main producing reservoir in the Kechoula discovery). A five meter interval was perforated in the […]
Morocco has received approval for a $25 million loan from the Climate Investment Funds’ Clean Technology Fund (CIF CTF) for a project to generate solar power through an innovative hybrid Concentrated Solar Power (CSP) and Photovoltaic (PV) solution. he Midelt Phase I Concentrated Solar Power Project is being supported by the African Development Bank (AfDB) […]
Leading Japanese car part maker, JTEKT, will set up a plant worth €15 million in Tangier, an investment that will further bolster the automotive ecosystem in the country. The factory is scheduled to start producing car steering systems and drive parts in 2018, the Tanger-Med Port announced in a statement. The plant, to be built […]
Morocco, which joined the International Energy Agency as an Association Country in November 2016, has signed a three-year joint work program with the IEA to deepen bilateral cooperation in the areas of energy security, energy efficiency, renewable energy, capacity building and data and statistics. Under the program, tailored to Morocco’s specific needs as it transitions […]
The launch of the gradual float of the Dirham to reach a flexible exchange rate regime will not lead to currency devaluation reassured Governor of Bank Al Maghrib, Abdellatif Jouahri. Speaking at a press conference in Rabat, Jouahri played down the speculations on risks of Dirham devaluation due to the currency float saying that the […]
IFC, a member of the World Bank Group, and Proparco, a subsidiary of Agence Française de Développement (AFD), are investing €100 million and €35 million, respectively, in the first green bond issuance by Banque Centrale Populaire (BCP), to promote sustainable, environment friendly projects in Morocco. This is the first green bond issuance in foreign currency […]
The Global Innovation Index 2017 ranked Morocco as the first innovative economy in North Africa and the third on the continental level preceded only by South Africa and Mauritius. The index, co-edited by Cornell SC Johnson College of Business, in partnership with INSEAD and the World Intellectual Property Organization (WIPO), showed that Morocco continues to […]
Moroccan automotive industry is gaining momentum and growing at a rapid pace due to incentives and competitive factors attracting more and more investors and makers of car parts. These factors include Morocco’s proximity to European market, modern infrastructures, free trade zones, qualified cheap manpower, open economy and stability. French car manufacturer Peugeot-Citroën has just launched […]