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Economy


Renewables Surge Ahead but Still Fall Short of Climate Goals

A new report reveals a record-breaking surge in global renewable energy infrastructure installation last year, but critical climate targets remain unmet, highlighting the urgency for more substantial efforts. In 2023, an astounding 507 gigawatts (GW) of renewable electricity generation capacity came......

WEC Lines Unveils Innovative Shipping Route Linking Morocco and the UK

Dutch shipping giant, WEC Lines, is set to revolutionize the shipping industry with the introduction of a groundbreaking direct route connecting Agadir, Morocco, and the Port of Liverpool in the United Kingdom. Scheduled to kick off this month, this novel service aims to offer importers a fast and environmentally......

Mining for a Brighter Future: Morocco and Saudi Arabia Sign Agreement to Strengthen Cooperation

Representatives from the Kingdom of Morocco and Saudi Arabia convened this week to formalize an agreement aimed at boosting cooperation between the two nations in the mining sector.  On Tuesday, Moroccan Minister of Energy Transition and Sustainable Development Leila Benali and Saudi Minister of......

Billions Invested in Modernizing Morocco's Road Network

The Moroccan government, under the leadership of Infrastructure Minister Nizar Baraka, has pledged a significant investment of 20 billion dirhams to revamp the nation's road infrastructure through comprehensive regional development programs. This substantial commitment is designed to elevate connectivity......

Sustainable Partnership: Azura and Suez Sign Two Waste Management Contracts

Azura Group, a global leader in the fruit & vegetable and aquaculture sectors, has entered into a strategic partnership with Suez, a leading provider of circular economy solutions for waste. The collaboration involves the signing of two 6-year contracts for the management of organic waste from Azura’s......

Revitalizing a Crucial Maritime Link Between Morocco and the Canary Islands

This week, a high-level delegation from Morocco is set to arrive in the Canary Islands to engage in discussions aimed at restoring regular ferry services between the Spanish archipelago and the Moroccan port city of Tarfaya. The reestablishment of this maritime route holds the promise of fortifying economic,......

Ethiopian Cargo Expands Maghreb Presence with Casablanca Inauguration

Ethiopian Cargo & Logistics Services has soared into Casablanca's airspace, marking its 35th freighter destination and strengthening its Maghreb presence. The inaugural flight, operated by a Boeing 777-200F, capable of transporting over 100 tons of cargo, signifies the carrier's commitment......

Morocco's Treasury Fuels Optimism with Strategic Investments

Morocco's Treasury is confidently steering the nation towards sustained financial prosperity. In a strategic move this week, the Treasury and External Finance Department (TEFD) allocated an impressive 2.32 billion Moroccan dirhams ($239 million) from cash surpluses to short-term operations. This......

Unlocking Prosperity: Morocco's Initiative to Connect Sahel Countries to the Ocean

In the midst of a global struggle for influence across Africa, Morocco has emerged as a key player, unveiling a groundbreaking initiative in November 2023 to catalyze economic growth in the Sahel region. Under the visionary leadership of His Majesty King Mohammed VI, this ambitious plan seeks to establish......

Morocco's Tanger Med Port Launches $714 Million Expansion Supported by World Bank

Morocco's Tanger Med Port is set to undergo a substantial $714 million expansion, bolstered by funding from the World Bank, as it targets growth and enhanced global competitiveness. The state-owned Tanger Med Port Authority aims to extend capacity, modernize facilities, and solidify its position......

Morocco Emerges as Key Beneficiary of UK Trade Diversification Post-Brexit

In the wake of the UK's endeavor to broaden its trade alliances beyond the EU, Morocco and Egypt have stood out as significant beneficiaries, particularly in terms of increased British imports. A recent analysis by the Daily Express reveals a remarkable surge of over 200% in imports of fruits and......

Iberdrola Expands Clean Energy Reach with €300 Million Investment in Morocco

Spanish energy leader Iberdrola is amplifying its commitment to renewable energy with a strategic move into Morocco. The company unveiled its latest initiative this week, securing a substantial €300 million loan from the International Finance Corporation (IFC) to accelerate its global transition......

High Wages: An Asset for Workers, a Challenge for Businesses?

Morocco boasts the third-highest minimum wage among major EU garment suppliers, presenting both opportunities and challenges for the country's vital textile industry. A recent study from the French think tank Evalliance suggests that Moroccan manufacturers may need to adapt pricing and production......