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Economy


Sound Energy Completes Sale of Moroccan Assets to Managem for $45.2 Million

Sound Energy has completed the partial divestment of its Moroccan gas assets to Managem Group, a transaction valued at up to $45.2 million. This move is in line with Sound Energy’s strategy to unlock greater value from its energy projects in Morocco. Graham Lyon, Executive Chairman of Sound Energy,......

Morocco and Atlas Marine Establish New Maritime Route Linking Agadir and Dakar

Morocco has officially partnered with Atlas Marine to launch a commercial maritime route connecting Agadir to Dakar, marking a significant step in strengthening regional ties and fostering economic integration. The protocol agreement was signed by Karim Achengli, President of the Souss Massa Regional......

Lockheed Martin Expands Defense Manufacturing Footprint in Morocco

Lockheed Martin has significantly strengthened its presence in Morocco as part of its ongoing efforts to boost defense partnerships in the North African region. This year marks a milestone for the company, celebrating 50 years of collaboration with Morocco, beginning with the delivery of the first C-130H......

Morocco, DRC, and Zambia Launch Electric Mobility Initiative in Lusaka

Africa’s automotive industry is poised for transformation as Morocco, the Democratic Republic of Congo (DRC), and Zambia collaborate on a pioneering electric mobility initiative. This regional effort, aimed at developing a robust electric vehicle (EV) value chain, was launched in Lusaka, Zambia,......

Building Financial Infrastructure Resilience at AFIS 2024

The discussions on Day 2 of the Africa Financial Summit (AFIS) focused on solutions to steer the continent toward a more connected and inclusive financial future. Casablanca – Africa Financial Summit Shaping Financial Future The Africa Financial Summit (AFIS) is in full swing, with a strong focus......

Morocco Approves $13.4 Billion in Investment Projects, Targeting Job Creation and Economic Growth

The Moroccan government, led by Head of Government Aziz Akhannouch, has approved 56 investment projects valued at 134 billion Moroccan dirhams ($13.4 billion), signaling a robust commitment to economic development and employment generation. Strategic Investment Breakdown During the sixth session of......

OCP Group Eyes 75% Stake in Spain’s Global Feed SLU: Strengthening Its Position in Animal Nutrition

OCP Group, a leading Moroccan phosphate producer, is making strategic moves to expand its influence in the global animal feed sector. The company has submitted a proposal to Morocco's Competition Council to acquire a 75% stake in Spain’s Global Feed SLU, enhancing its control over the Spanish......

Morocco Sets Ambitious Plans for Railway Overhaul to Meet Growing Demand for Clean Transport

The Moroccan government has unveiled a transformative plan to upgrade the nation's railway system, with an investment of MAD 87 billion ($8.7 billion). Transport Minister Abdessamad Kayouh announced this ambitious initiative on Monday, aiming to modernize the network in response to increasing demand......

ONEE Secures €104.7 Million AfDB Grant to Enhance Water Systems and Digitalization

The funding aims to address Morocco's urban water demands and modernize supply systems in response to climate and population pressures. Morocco’s National Office of Electricity and Drinking Water (ONEE) has secured €104.7 million (MAD 1.15 billion) in funding from the African Development......

Tata Group Expands Defense Partnership with Morocco Through Strategic Truck Contract and Manufacturing Facility

India's Tata Group has secured a significant second contract to supply "LPTA 2445 Defence Dump Trucks" to the Royal Moroccan Army (FAR), marking a milestone in the growing defense collaboration between India and Morocco. This new agreement follows the previous delivery of 90 trucks configured......

Morocco and UAE Launch $25 Billion Green Hydrogen Venture in Dakhla

A groundbreaking joint venture between Morocco and the United Arab Emirates is set to revolutionize the renewable energy landscape, with a massive $25 billion investment in green hydrogen and ammonia production in Dakhla, southern Morocco. Strategic Investment Overview The renewable energy company......

Morocco Boosts Trade Connectivity with New Maritime Route Linking Agadir to Dakar

In a strategic effort to strengthen trade ties with Sub-Saharan Africa, Morocco has introduced a new maritime route linking Agadir to Dakar. This initiative, spearheaded in partnership with the British company Atlas Marine, aims to provide a faster and more efficient alternative for transporting goods,......

AFIS 2024: Morocco Hosts Summit Shaping Africa's Financial Future

Leaders gather in Morocco's economic capital to discuss investment, digital tools, and a united African financial market. Morocco is hosting the Africa Financial Summit (AFIS) for the first time in Casablanca. The two-day event, which began today and will run through tomorrow, brings together over......