Morocco’s Central Bank announced that measures will be gradually taken to ensure a more flexible exchange rate of the Dirham amid promising macro-economic conditions marked by low oil prices and increasing demand on phosphates. The floating of the pegged dirham was encouraged by the IMF which sees in a more flexible exchange regime a move […]
Business
Private Russian Security Firm Involves in Arming Haftar Forces
A private Russian security firm said it sent agents to Eastern Libya to deliver arms to Khalifa Haftar confirming concerns in the West over a growing Russian influence in Libya, Reuters reported. Oleg Krinitsyn, owner of private Russian firm RSB-group said in an interview with Reuters that a force of several dozen Russian armed private […]
Emirati’s Strata Eyes Morocco to Channel Supply to Europe
United Arab Emirates-based aero-structures manufacturing company is eyeing investment in Morocco to ease supplies to its European market. The announcement was made by the company’s CEO Badr Al Olama in a statement to Reuters. “We are looking for a country near Europe, I have mentioned Morocco,” Al Olama said. Strata is owned by Mubadala Aerospace […]
Algeria’s Foreign Reserves Shrink to $112 Bln
In a pessimistic tone that bodes ill for Algeria’s economic prospects, Algerian Prime Minister Abdelmalek Sellal announced yet a new slump in the country’s foreign exchange reserves, which currently stand at $112 billion. As Algeria’s revenues continue to be battered by the slump in oil prices, Sellal, who was speaking in Annaba at a meeting […]
Morocco, Gateway to Chinese Investments in Africa- Asian Magazine
Morocco and China are eager to extend their economic cooperation to the African continent as Chinese investors seem poised to build on Morocco’s strategic location and business ties with Africa, said The Diplomat, a magazine specializing in the Asia-Pacific region. “Morocco can be China’s gateway into West Africa and beyond, where Moroccan companies and businessmen […]
With Morocco, ECOWAS Becomes 16 Largest Economy in the World
In the face of the paralysis crippling the Maghreb union, Morocco opted to look south reaching out to its partners in West Africa with whom it has been building partnerships on a sound foundation underpinned by a south-south cooperation approach. The recent request by Morocco to join the West African economic community (ECOWAS) is the […]
Côte D’Ivoire, First Destination for Morocco’s FDIs
Côte D’Ivoire has been receiving most of Morocco’s foreign direct investments thanks to sustained efforts by the business community in the two countries and the existence of a strong political willingness evidenced by the close ties between the leadership of the two countries. The current visit of King Mohammed VI to Abidjan is part of […]
Morocco’s Attijariwafa bank sets sails towards Ghana
Morocco’s leading bank group, Attijariwafa bank, has set sails towards Ghana where it seeks to conquer the banking market. In a first step, it signed a partnership agreement with GCB Bank Ltd, the second top bank group of the West African country. After it established its presence in several francophone countries neighoring Ghana, Attijariwafa bank […]
Strengthening Partnership Tops Agenda of Moroccan King’s Visit to Côte d’Ivoire
Strengthening the friendship ties and economic partnership existing between Morocco and Côte d’Ivoire is on top of the agenda of the current visit King Mohammed VI is paying to Abidjan. Commenting on the visit, Ivoirian President Alassane Ouattara said the visit is “a new sign of confidence and friendship” towards his country. He expressed […]
Morocco Looks South, Opts for ECOWAS
Morocco has officially requested membership in the Economic Community of West African States (ECOWAS), a sub-regional grouping that has been steadily forging ahead on path of regional economic integration. “In the context of the Royal tour in Africa- notably in some west African countries- and following directives from King Mohammed VI, the Kingdom of Morocco […]