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Economy


Tanger Med: Morocco's Port Emerges Strong Amid Crisis in the Red Sea

As the security crisis in the Red Sea continues to disrupt global maritime transport, Morocco finds itself in an advantageous position, courtesy of its port, Tanger Med. With the escalation of attacks by Yemen's Houthi rebels in the region, prompting numerous vessels to reroute via the Cape of Good......

DFDS Expands Ferry Routes Linking Spain and Morocco

DFDS, a prominent player in international shipping, is embarking on a bold new venture with the introduction of three additional ferry routes spanning the Strait of Gibraltar. These routes, established following DFDS' acquisition of FRS Iberia/Morocco, are poised to enhance travel options for passengers......

Advancing Regional Growth: Morocco and Nigeria Collaborate on Strategic Gas Pipeline

Morocco and Nigeria are advancing an ambitious project aimed at unlocking economic potential across Western Africa a monumental gas pipeline stretching over 5,700 kilometers along the coastline. In a recent meeting in Rabat, Moroccan Minister of Energy Transition, Leila Benali, and her Nigerian counterpart,......

Private Investment in Morocco Surges to $10 Billion in 2022

Morocco witnessed a significant surge in private investment, reaching a total of 100 billion Moroccan dirhams, equivalent to nearly $10 billion, in 2022, as announced by Minister of Investment Mohcine Jazouli on Thursday in Rabat. Although official figures have not yet been released, the minister's......

Unleashing Innovation: Visa Fintech Day in Morocco as a Catalyst for Economic Growth and Financial Inclusion

In the dynamic realm of fintech, where innovation shapes the financial landscape globally, Morocco stands out as a burgeoning market undergoing a transformative shift in its payments landscape. The recently held inaugural Visa Fintech Day in Casablanca marked a pivotal moment in the country's journey......

Rabat to Host 22nd Annual Meeting of OIC Economic Advisors in Morocco

Rabat, the vibrant city, is eagerly preparing to host the 22nd annual gathering of esteemed Economic Advisors representing the Member States of the Organization of Islamic Cooperation (OIC) accredited to Morocco. The highly anticipated event, scheduled for the upcoming Monday, is proudly announced by......

TELUS International's Strategic Move: Establishing Roots in Morocco for Global Growth and Positive Impact

Canadian digital services giant, TELUS International, has recently broadened its global influence with the establishment of a new delivery center in Casablanca, Morocco. This expansion signifies the company's keen interest in harnessing the skills of Morocco's proficient and multilingual talent......

Igniting Innovation in Rural Morocco: Launching the Genious Territory Project in Al Haouz

A groundbreaking initiative is set to foster innovation and sustainability within Morocco's rural communities. On Wednesday, January 24th, Morocco Impact and the SMarT Foundation will unveil the Genious Territory project in the Douar Sidi Hssain commune of the Al Haouz province. The Genious Territory......

Nuclear's Next Generation: A Glimpse into Tomorrow's Reactors

While nuclear power technology is not new, the industry is experiencing rapid innovation. Within this sector, "advanced nuclear" is an umbrella term encompassing anything beyond standard commercial reactors. These advanced nuclear reactors explore different approaches, such as cooling methods,......

Renault Arkana Takes the Crown as the 2024 Car of the Year in Morocco

In a momentous ceremony held on Tuesday, January 23rd, the Renault Arkana secured the prestigious title of Car of the Year (COTY) for 2024 in Morocco. This triumph marked the 5th edition of the competition, where the sleek SUV emerged as the frontrunner in a highly competitive field. Amongst a distinguished......

Morocco Reaffirms Commitment to Boosting African Development

Morocco's top diplomat in the U.S., Ambassador Youssef Amrani, has emphasized his country's unwavering commitment to fostering development throughout Africa. Addressing a roundtable event in Washington D.C. on Monday, Ambassador Amrani lauded Morocco's robust economic ties with the U.S. while......

Inflation Impact: Moroccan Households Struggle as Prices Surge Nationwide

Moroccan households grappled with financial challenges throughout 2023, as inflation took a toll on their budgets. According to a recent report by the High Commission for Planning (HCP), the annual average consumer price index (CPI) witnessed a significant 6.1% surge compared to the previous year. This......

Societe Generale Faces €4.5 Million Fine Over Deceptive Fees

France's financial fraud watchdog has taken action against banking giant Societe Generale, imposing a €4.5 million fine for engaging in deceptive practices that resulted in customers being unfairly charged fees. The penalties stem from an extensive investigation conducted by The General Directorate......