Advertising

Economy


OCP Group Plans MAD 5 Billion Bond Issuance to Fund Green Investment Program

OCP Group, Morocco's leading phosphate company, is preparing to issue bonds worth MAD 5 billion from December 10 to 12, 2024. This move aligns with the company's ongoing green investment strategy for 2023-2027, which has a substantial budget of MAD 130 billion. The Moroccan Capital Market Authority......

Morocco Takes Action to Ensure Steady Red Meat Supply Amid Livestock Shortages

To stabilize the red meat market, Morocco has implemented key measures, including suspending import duties and VAT on fresh and chilled meats. Morocco is grappling with a significant decline in its national livestock due to consecutive years of drought and rising feed prices. This challenge has put......

Bitcoin Surpasses $100,000 Following Trump's Appointment of Crypto-Friendly SEC Chair

Bitcoin has reached a new milestone, surpassing $100,000 for the first time in history, driven by the nomination of a crypto-friendly chairperson for the US Securities and Exchange Commission (SEC). This unprecedented surge in value has captured the attention of the crypto community, sparking widespread......

Saham Group Completes €745 Million Acquisition of Société Générale’s Moroccan Subsidiaries

Saham Group has finalized its acquisition of Société Générale’s Moroccan banking and insurance subsidiaries, marking a significant milestone for the company and a notable return to the financial sector for its founder, Moulay Hafid Elalamy. The transaction, valued at......

Morocco's Sustainable Mining Industry Takes Center Stage at IMC Morocco 2024

Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali, underscored the Kingdom’s commitment to fostering a sustainable mining industry during her speech at the first International Mining Congress of Morocco (IMC Morocco 2024) in Marrakech on Tuesday, according......

Morocco Imposes Tariffs on Egyptian Canned Tomatoes to Protect Local Producers

Morocco has introduced temporary anti-dumping tariffs on canned tomato imports from Egypt following an investigation by the Ministry of Trade and Industry. This move responds to a complaint from the National Federation of Food Industries, highlighting concerns about unfair trade practices affecting the......

Spain and Morocco's Electrical Link: Bridging Two Continents Underwater

Spain and Morocco have shared a unique connection since 1997, one that runs deep beneath the Strait of Gibraltar. While discussions about a potential tunnel dominate headlines, an existing submarine electrical interconnection quietly underscores a history of cooperation between Europe and Africa. The......

House of Councillors Approves First Part of 2025 Finance Bill

The Finance, Planning, and Economic Development Committee of the House of Councillors has officially approved the first part of the 2025 Finance Bill. This decision came after a majority vote on Monday, with the proposal passing 12 votes in favor, 2 against, and one abstention. The government responded......

Record Military Budget Approval by Putin A Heavy Toll on Russia's Economy Amid the War in Ukraine

Russian President Vladimir Putin has approved an unprecedented defense budget for 2025, allocating approximately $126 billion, or 13.5 trillion rubles, to the national defense sector. This amount constitutes 32.5% of the total government spending, marking a significant rise from the previous year’s......

China and Morocco Deepen Electric Vehicle Battery Partnership

Chinese companies are increasingly investing in Morocco's burgeoning electric vehicle (EV) industry, drawn by the country's strategic location and opportunities tied to U.S. subsidies. A recent article by the South China Morning Post highlighted the growing collaboration, marking a pivotal moment......

BANK OF AFRICA Revolutionizes the Ecosystem with Its Collaborative Supply Chain Finance Platform

BANK OF AFRICA has solidified its reputation as an innovation leader with the launch of the first fully digital and collaborative platform dedicated to Supply Chain Finance (SCF) in Morocco. This groundbreaking solution is accessible to both buyers and suppliers, transforming financial flow management......

Morocco’s Aerospace Exports Soar to $2.16 Billion in 2024, Fueling Economic Growth

Morocco's aerospace sector has seen significant growth in 2024, with exports reaching MAD 21.86 billion ($2.16 billion), marking an impressive 17.3% increase compared to the previous year. This rise reflects a robust performance, particularly in the assembly segment, which alone grew by 26.9%, bringing......

Morocco’s Trade and Services Show Positive Growth Despite Increased Deficit

Morocco's export sectors have experienced notable growth, positioning the country as a rising force in global trade, especially in services. As of October, Morocco's trade exports reached MAD 373.54 billion ($37.4 billion), reflecting a 6.2% increase compared to MAD 351.66 billion ($35.21 billion)......