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Economy


Wafa Assurance Expands Its Footprint, Securing Approval to Operate in Gabon's Life Insurance Sector

In a strategic move aimed at extending its footprint across Africa, Wafa Assurance has secured approval to operate in the life insurance sector in Gabon. This milestone comes as a testament to the company's commitment to contributing to the economic development of the African continent. On April......

Morocco's Fiscal Deficit Narrows Significantly to MAD 1.18 Billion in April

Morocco's fiscal situation has undergone a remarkable turnaround, showcasing substantial improvement as the budget deficit shrinks to a mere MAD 1.18 billion (approximately $113 million) by the end of April 2024. This figure marks a significant decline from the MAD 10.58 billion deficit recorded......

Morocco's Edge in European Markets Amid Growing Environmental Concerns Surrounding Textile Industry

The textile industry has undergone a significant transformation with the rise of fast fashion, a phenomenon primarily affecting the ready-to-wear sector. Characterized by a staggering number of new designs and constant collection renewals, accelerated production cycles, and inexpensive clothing have......

Driscoll's Maroc Inaugurates Berry Processing Facility in Larache

In a significant stride for Morocco's flourishing berry industry, Driscoll's Maroc, a subsidiary of the renowned US-based berry producer, has initiated the construction of a cutting-edge berry processing facility in Larache. The inauguration ceremony unfolded under the auspices of Larache Province......

Morocco's Middle Class Ascendance: Poverty Declines as Economic Prosperity Rises

In a remarkable revelation challenging prevailing perceptions, a recent study conducted by The Policy Center for the New South (PCNS) unveils a heartening trend in Morocco's socioeconomic landscape. Contrary to the widespread belief that Moroccan society is becoming increasingly polarized with the......

Attijariwafa Bank Takes Legal Action Against Defamatory Allegations, Turns to Spanish Courts

In a decisive move, the banking group Attijariwafa Bank has announced its intention to pursue legal action against those responsible for disseminating blatantly false, slanderous, and defamatory statements about the group and its Chairman and Chief Executive Officer, Mr. Mohamed El Kettani. The bank......

Morocco's Grain Imports from European Union Reach Remarkable Heights

In a notable turn of events, recent data unveiled by Eurostat, the esteemed European statistics office, reveals Morocco's emergence as a significant importer of grain from the European Union (EU). In 2023, the North African nation imported a staggering 5 million tons of grain from the 27 member states......

Tomato Price Rollercoaster: A Constant Battle for Moroccan Consumers

In an almost artistic movement, tomato prices in Morocco engage in a veritable classical dance, fluctuating between sublime elevations and dramatic falls, much to the dismay of consumers. After a period of relative calm, during which prices seemed to have finally taken pity on the already strained pockets......

ONCF Upgrades Signaling Infrastructure Between Casablanca and Kenitra

As part of its comprehensive modernization program aimed at continuously improving its services, the National Office of Railways (ONCF) is undertaking an extensive initiative to upgrade the signaling infrastructure along the Casablanca-Kenitra rail corridor. From May 12 to May 26, 2024, these large-scale......

Soaring High: Saudia's Ascent as a Premier Airline Brand

In the ever-competitive realm of commercial aviation, Saudia, the national airline of Saudi Arabia, has firmly established itself as one of the fastest-growing airline brands on the global stage, according to Brand Finance's annual report on the top 50 airline brands. Saudia's brand value has......

SDX Energy Secures Substantial Cash Infusion, Fueling Moroccan Ambitions

SDX Energy, a London-based energy firm, has taken a significant step towards strengthening its presence in Morocco with the receipt of a substantial cash infusion from the sale of its Egyptian assets. An initial $3.5 million from the sale of its West Gharib assets in Egypt has provided a financial boost,......

Akhannouch Outlines Economic Measures Amid Global Crises at Government's Midterm Review

During a plenary session dedicated to assessing the government's midterm performance, Head of Government Aziz Akhannouch delivered a comprehensive address to the Chamber of Advisors, outlining the economic measures undertaken to support businesses and preserve macroeconomic stability amidst global......

OLA Energy Maroc Forges Strategic Partnership with ExxonMobil for Local Blending of Mobil Lubricants

In a bold move to strengthen its position in the African lubricants market, OLA Energy Maroc, a leading energy company in Morocco and a major energy player in Africa, has entered into an innovative agreement with ExxonMobil Petroleum & Chemical BV. This strategic partnership allows OLA Energy Maroc......