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Economy
In a pivotal stride toward fortifying Morocco's agricultural cooperative landscape, the 2024 Finance Law heralds an extended VAT exemption designed to invigorate the sector. This progressive measure not only seeks to slash operational costs but also aims to propel the competitiveness and expansion......
In a promising development for Morocco's economy, new data from the Exchange Office reveals that remittances from the Moroccan diaspora have reached an impressive MAD 105.4 billion, equivalent to $10.65 billion as of November. This figure represents a notable 4.4% increase compared to the same period......
In a recent report titled "Fixed Income Weekly" by BMCE Capital Global Research (BKGR), the primary market has experienced a significant surge in treasury uptake, totaling an impressive 7.2 billion dirhams (MMDH) from December 22nd to 28th. During the final auction session of the year, the......
In a momentous development, Sofac has officially declared a substantial increase in its social capital, soaring from DH 193.2 million to DH 210.45 million. This remarkable growth, totaling DH 17.25 million, was accomplished through the issuance of 172,500 new ordinary shares, each carrying a nominal......
In the third quarter of 2023, Morocco's national economic growth experienced a significant upswing, reaching 2.8% compared to the 1.7% recorded during the same period in 2022, as reported by the High Commission for Planning (HCP). This positive development is attributed to a 2.7% increase in non-agricultural......
In a significant development, the Moroccan Capital Market Authority (AMMC) has officially recorded the latest update to Attijariwafa Bank's certificate of deposit (CD) issuance program. This momentous event, documented on December 28, 2023, under the reference EN/EM/038/2023, encompasses several......
In a noteworthy diplomatic exchange, Morocco's High Planning Commission (HCP) recently welcomed a distinguished delegation from Egypt to Rabat. This rendezvous was not just a customary visit; it was a strategic exploration of Morocco's expertise in the meticulous compilation of national economic......
Morocco and the European Investment Bank (EIB) have forged a historic alliance, formalizing a financial partnership valued at 100 million euros to bolster Morocco's ambitious Forests of Morocco 2020-2030 strategy. The signing of this agreement, attended by esteemed delegates including Fouzi Lekjaa,......
The autonomous water and electricity distribution company of Marrakesh, RADEEMA, has unveiled ambitious plans to invest nearly $3 billion over the next five years in fortifying the city's water and power systems. This extensive infrastructure project is geared towards ensuring a reliable supply of......
In a remarkable achievement, the Moroccan craft sector continues its outstanding performance, reaching a staggering 984 million dirhams by the end of November 2023, marking a notable 7% increase from the previous year. Minister of Tourism, Craftsmanship, and Social and Solidarity Economy, Fatim-Zahra......
Morocco has recently finalized agreements with Germany's development bank, KfW, securing €250 million in loans and €7 million in grants. These funds are earmarked for crucial social protection, sustainable transportation, and irrigation projects. In a ceremony held in Rabat on Wednesday,......
In the face of challenging global economic conditions, Morocco's Marrakech-Safi region exhibited remarkable resilience in 2023, maintaining robust economic growth throughout the year. The region experienced a staggering influx of investments, surpassing 119 billion Moroccan dirhams, marking a remarkable......
Renowned Moroccan executive, Hicham Kabbaj, has assumed the role of President for the Middle East and Africa (MEA) division at Worley, an Australian engineering professional services company. This significant appointment marks another milestone in Kabbaj's distinguished career. Kabbaj brings a wealth......