Finance & Economy

Owned by British businessman Simon Wolfson, the ready-to-wear empire Next has just set up a supply subsidiary in Casablanca, Next Europe & North Africa. Simon Wolfson, life member of the British House of Lords since 2010, heads for Morocco. Following the creation of the new Casablanca subsidiary, the Moroccan suppliers …

The Compagnie de Transports au Maroc (CTM) has concluded an agreement to acquire 100% of the share capital of Satcoma-Satas Voyageurs SARL from its partners. The transaction will be finalized after the lifting of a number of conditions precedent, in particular the obtaining of regulatory authorization from the competition authorities …

The Finance Committee of the House of Representatives has launched discussions on the provisions of Law 15-18 on collaborative funding with the Minister of Economy, Finance and Administrative Reform, Mohamed Benchaâboun. Crowdfundig takes three forms of financing: loan, capital investment and donation. Law 15-18 thus makes it possible to define …

Morocco’s first pharmaceutical factory, Cooper Pharma’s laboratory in Rwanda and East Africa, will be operational next July, announced Danny Mutembe, Cooper Pharma’s representative in Rwanda. This pharmaceutical factory, whose construction had started in 2017, is one of the 21 agreements that were signed between Morocco and Rwanda in October 2016 …

The consortium composed of ENGIE and NAREVA has been declared provisional successful tenderer for the realization of the photovoltaic power plant of Gafsa, launched in international call for tenders by the Ministry of Industry & SMEs and STEG (Tunisian Company of Electricity and Gas). This group will thus be responsible …

One of the disputes between Omar Belmamoun and his American business partner has just been tried. The two entrepreneurs are associated equally in the Brookstone Partners Morocco (BPM) investment fund. The Casablanca Commercial Court of Appeal “suspended the effects” of the ordinary general meeting of May 20, 2019. During this …

Some 115 startups benefited from the funding granted by the Innov Invest Fund last year, an increase of 109% compared to 2018. The total amount of funding granted reaches MAD 40 million, indicates the Central Guarantee Fund in its balance sheet for the year 2019. The startups supported mainly operate …

The year 2019 has made it possible to consolidate the achievements of all of the activities of the Renault Maroc Group and to strengthen its position as the undisputed leader in the national automotive sector, Group Director General Mark Nassif said on Tuesday in Casablanca. Despite a shrinking world market, …

The Bank for International Settlements (BIS) plans to broaden its membership and strengthen its cooperative actions as part of its mission as a forum for international cooperation and the grouping of central banks and financial authorities. To this end, the BIS Board of Directors has decided to co-opt the Central …

Korean Hands, specialist in alloy wheels for cars, inaugurates its factory in Tanger Automotive City (TAC) on Tuesday. The factory is the result of an investment of MAD 3.2 billion with a production capacity of 6 million rims in the long term, enough to cover the production of the factories …