Finance & Economy

In a milestone for its pan-Africa mission, Africa Finance Corporation, one of the region’s biggest investors in infrastructure development, today announces that it has exceeded 30 member states, representing more than half the continent. Membership by Burkina Faso, Democratic Republic of Congo and Morocco, all in the first quarter of …

Morocco’s gross domestic product (GDP) growth is expected to reach 4.6% in 2021, according to the latest World Bank projections. “In Morocco, production is expected to rebound to 4.6% in 2021 under the effect of several factors, namely the reduction of problems linked to the drought, the maintenance of accommodating …

The world leader in furniture and decoration, IKEA, announced the upcoming opening of its second department store in the Kingdom in Tetouan, within the commercial zone developed by the Tanger Med Zones. “The establishment of this new store represents an investment of nearly 400 million dirhams (MAD), which is sure …

The World Bank (WB) approved a loan of $ 450 million in support of Morocco’s long-term strategy to strengthen human capital. This loan, which aims to improve early childhood development in rural areas, will finance the third phase of the National Initiative for Human Development (INDH), with the development of …

After furniture giant Ikea in 2015 and rising star of mid-range watchmaking Daniel Wellington more recently (in 2018), another renowned Swedish group is planting its banner in Morocco. This time, it is the world leader in the production of rubber and industrial polymers in question and who has just inaugurated …

Morocco plans to reimpose customs duties on soft and hard wheat of 135% and 170%, respectively. The country’s agriculture ministry said that the plan is to cut imports at a time of higher prices in international markets. The import duties had been suspended until May 15 to ensure price stability …

Morocco has seen its tomato exports to Russia collapse over the past four years, reaching less than 36,000 tonnes in 2020. A figure three times lower than in 2016. Morocco has lost its place as the leading supplier of tomatoes to Russia. The Russian Federation now imports less than 10% …

Despite the health crisis, Morocco is ranked fifth this year in the list of best economies in Africa. This is what emerges from the Forbes Middle East 2021 ranking, compiled using data from the International Monetary Fund (IMF) and the World Bank. For this year 2021, the IMF estimates the …

The automotive sector has shown great resistance to the impacts of the crisis caused by the Covid-19 pandemic. In the first quarter of 2021, the sector recorded growth of 38.9%. In its recent statistics, the Foreign Exchange Office reported that automotive sector exports were MAD 22.602 billion in the first …

The green economy development project places Morocco among the most competitive countries in the world in terms of energy production from renewable sources, said the Minister of Industry, Trade and of the green and digital economy, Moulay Hafid Elalamy. Today, this positioning offers the Moroccan industrial base an exceptional competitive …