Finance & Economy

The area reserved for the production of tangerines, satsumas, clementines and mandarins was in 2018 of 64,102 Ha. Since 2014, Moroccan production of tangerines, satsumas, clementines and mandarins has increased by 1.6% over one year. In 2019, the Kingdom was in fourth position in the world ranking of the main …

Initially scheduled for July 2020, the operationalization of the African Continental Free Trade Area (AfCFTA) could finally take place next January, the organization’s Secretary-General Wamkele Mene announced. According to the Secretary, the procedure was suspended due to the current Covid-19 pandemic but this gives time to member countries to conclude …

The Covid-19 health crisis has damaged several key sectors, including tourism, resulting in unprecedented losses. And Morocco has not escaped it. In its report entitled “Covid-19 and tourism: Access to economic consequences”, the United Nations Conference on Trade and Development (UNCTAD) ranked Morocco in 7th position among the countries most …

The top management of the RAM gathered the staff representatives yesterday to present to them the tracks envisaged for the exit from the crisis which generates losses of the order of MAD 50 million per day for the national company. It is about the implementation of a draconian restructuring plan. …

The BCP group, a leading Pan-African banking player, and Huawei, a global operator in the telecoms and new information technology sector, have signed a Memorandum of Understanding (MoU) in order to consolidate their strategic cooperation on the scale of the African continent, both on the banking side and on that …

Forbes magazine has just released a new ranking for the Middle East. Among the 100 companies mentioned, four are founded and run by Moroccan families. Titled “100 most powerful Arab family businesses in the Middle East 2020”, this ranking from Forbes magazine includes four Moroccan companies. These are Akwa, FinanceCom, …

Fuel prices have risen since the end of containment, from 25 to 35 cents per liter, according to the distribution network. The deconfinement gave way to the rise in fuel prices at service stations. Thus the Diesel shows a price of 8.25 dirhams/liter while gasoline is at 9.24 dirhams. The …

In order to jointly boost the asphalt activity in Morocco and exploit synergies in the medium and long term, Madjaline Holding sells to Cepsa 40% of its interests in its companies Sorexi and Bitulife, leaders in the manufacture and sale of asphalt in Morocco. This transaction, which takes place in …

Edmond de Rothschild Private Equity is planning to make new investments in Morocco and would have done so already had COVID-19 not arrived, CEO Johnny El Hachem said. “We have deals in the pipeline we are ready to make,” adds El Hachem. “Morocco offers huge opportunity. We will focus here …

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are stepping up their support for green investments and climate resilience in Morocco, Egypt and the countries of the Eastern Partnership (Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine). The EU is providing a total of €61.3 million …