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Economy


OCP Successfully Concludes 5 Billion DH Perpetual Subordinated Bond Offering

 Moroccan phosphates giant, OCP S.A., has successfully concluded a 5 billion Moroccan dirham (DH) perpetual subordinated bond offering through a public announcement, as stated by the company. The bond offering, structured into two tranches featuring distinct interest rates and review periods, garnered......

Wafa IMA Assistance Receives 2024 Service Client of the Year Award

Wafa IMA Assistance, a pioneer in assistance services, has been honored with the prestigious 2024 Service Client of the Year Morocco award in the “Assistance” category, marking a historic achievement since its establishment in 2011. This recognition underscores the firm's unwavering commitment......

Le Cénacle unveils 'Nelio': A Pioneering Advertising Agency with a Multifaceted Media Portfolio

During a professional meeting gathering industry experts and the diverse team of a renowned media group, Le Cénacle officially announced the launch of a new advertising agency with versatile media content on Thursday evening at one of Casablanca's most well-known hotels. This significant......

Morocco Unveils Three Programs to Enhance Competitiveness in the Craft Industry

The Moroccan Ministry of Tourism, Handicrafts, and Social and Solidarity Economy has introduced three ambitious programs with the aim of fortifying the competitiveness of participants in the country's artisanal sector. These initiatives are seen as integral components of the government's overarching......

Morocco's Tax Overhaul: Navigating Property Sales with Mandatory Tax Clearance

A stringent property tax measure outlined in Morocco's 2024 Finance Act is poised to significantly impact real estate and business sales transactions within the country. Sale contracts can no longer be drafted until the seller obtains tax clearance, marking a pivotal change in the legal landscape. The......

Marrakech Ignites Climate Innovation Hub for MENA Region

A groundbreaking climate innovation hub has been launched in Marrakech, Morocco, with the aim of empowering entrepreneurs across the MENA region to develop solutions addressing the global climate crisis. The Marrakech Coalition for Climate Entrepreneurship (CCE) Hub, unveiled on December 12th, is supported......

Morocco-EU Partnership: Successful Advances in Competition Law

A collaborative partnership between Morocco and three European Union member states Greece, Poland, and Italy has resulted in significant advancements in Morocco's competition law and oversight, as per officials. Ahmed Rahhou, President of Morocco's Competition Council, announced on Tuesday that......

Empowering Moroccan Women Entrepreneurs: Sharing Experiences and Strategies

Marrakech recently hosted a timely workshop, focusing on promoting the economic empowerment of women entrepreneurs in Morocco and the wider Arab world. This event, an integral part of the Arab Entrepreneurship Summit, brought together female business owners and economic leaders to discuss strategies......

Ryanair Confirms $1.4 Billion Investment in Morocco, Introducing Over 1,100 Weekly Flights

Irish low-cost carrier Ryanair has revealed ambitious expansion plans for Morocco, solidifying its commitment to the country by offering more than 1,100 weekly flights across 175 routes this summer, including the addition of 35 new routes. As part of a substantial $1.4 billion investment, Ryanair is......

Ensemble Maroc Expands Total Stations Presence with the Support of Venezia Ice

Two years after falling under the stewardship of investment fund manager Adenia, facilitated through Overseas Catering Services (OCS), the holding company overseeing contract catering operations in Morocco, Ivory Coast, and Senegal, Ansamble Morocco is actively advancing its foray into the complementary......

ONCF Tender Sees Alstom and Talgo Compete for Lucrative Moroccan Rail Contract

A high-stakes bidding competition is currently underway between European rail giants Alstom and Talgo, both vying for the highly lucrative contract to supply Morocco with 168 new trains. The state-owned national rail operator, Office National des Chemins de Fer (ONCF), initiated the bidding process in......

Extension of Tax Amnesty for Inactive Companies in Morocco

The "tax amnesty" initiative, introduced by Morocco's 2023 Finance Law for inactive companies, has recently been extended until December 31, 2024. Initially met with subdued interest, attributed to unfamiliarity with the legal framework, apprehensions about tax implications, and a tendency......

Morocco and Georgia Commence Negotiations for Air Service Agreement

Morocco and Georgia have initiated negotiations to facilitate the signing of an air service agreement, as announced on the Facebook page of the Georgian Civil Aviation Agency (GCAA). A meeting took place between representatives of the aeronautical authorities of Morocco and Georgia during the ongoing......