First Independent Mena Newspaper
Islamic banking products in Morocco could expand their deposit bases by 5 to 10 pc, says Fitch Ratings, noting that the ability to grow the deposit base is positive for Morocco’s economic development because deposits represent about 70% of banking sector funding. “We expect growth of participation banks in Morocco will be high initially, as […]
The growing diplomatic rift between Qatar and other regional Doha as S&P downgraded its credit rating from AA to AA- while warning that further steps in this vein could follow. The decision was made late on Wednesday. The crisis has also reflected on the country’s stock market as it slipped by 9%. The riyal has […]
The automotive industry in Morocco has become the leading export sector, thanks notably to the investments of French automaker Renault Group that celebrated the export of 1 million vehicle made in its Moroccan plants of Tangier and Casablanca. “Renault is a success story that we would like to duplicate in other sectors,” said Industry and […]
Morocco has comparative advantage in terms of sharing experience and expertise in Africa, notably in renewable energies, an area of excellence in the North African Kingdom, said the Financial Times. In an article by Siona Jenkins titled, Morocco Capitalises on Early Lead in Renewables, the British paper sheds light on the continental leadership of Morocco […]
Moroccan firm, Nova Power, will build in Côte d’Ivoire a Photovoltaic power station with a total capacity of 25 megawatts for a total cost of 23.5 billion CFA francs, Local media said. The plant, to be built in Banguebogo, 570 km north of Abidjan, mirrors Cote D’Ivoire’s ambition to diversify energy sources through boosting the […]
Attijariwafa Bank, la Caisse Centrale de Garantie and le Groupe Crédit Agricole du Maroc have all won 2017 African Banker Awards in various categories. Attijariwafa Bank has been awarded the trophy of “Best Regional Bank in North Africa”, la Caisse Centrale de Garantie has obtained the “Financial Inclusion Award”, while le Groupe Crédit Agricole du […]
The European Bank for Reconstruction & Development is providing a loan of up to US$ 2 million to the Microfund for Women (MFW) for on-lending to female entrepreneurs in Jordan. Access to finance through banks remains extremely limited for micro, small and medium-sized enterprises (MSMEs) in Jordan, a country that is also particularly exposed to […]
Protesters in the southern Kebili province have forced the closure of another oil pumping station as their claims for job opportunities gain momentum. The closing of the Faouar pumping station, operated by French Perenco company, has been confirmed by several media outlets in Tunisia. The closing was reportedly carried out peacefully, without any clashes with […]
FLSmidth has won a five-year contract from Moroccan Phosphates Office (OCP) to operate port equipment for handling phosphate, fertilizers, and sulphur. The port is located in Jorf Lasfar, El Jadida, 100 km south of Casablanca. The contract marks FLSmidth’s first Operation & Maintenance contract in Morocco, the Copenhagen-headquartered company said in a press release. FLSmidth […]
The International Monetary Fund has reaffirmed Morocco’s continued qualification for the Precautionary and Liquidity Line (PLL) Arrangement after a first review of its executive board. The two-year PLL arrangement for Morocco in the amount of SDR 2.504 billion (about US$3.42 billion) was approved by the IMF’s Executive Board in July 2016. After completing a first […]