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Morocco

Italy won't let the Fiat Topolino fly the Italian flag because Stellantis makes it in Morocco

Stellantis to remove Italian flag from Fiats made in Morocco

The automobile giant Stellantis will remove the Italian flag from its Fiat Topolino model after being accused of breaking Made In Italy laws because the car – technically a quadricycle – was produced in Morocco. Dozens of the vehicles were seized at the port of Livorno for violations of the law, which insists on strict […]

Migrants attempting to reach Italy from Tunisia. About 270,000 so-called irregular migrants arrived in the EU via sea crossings last year

EU reveals total aid to North Africa to combat migration 

The European Union provided €673 million ($718 million) in funding to four North African countries from 2021-23 to help the quartet reduce what it calls irregular migration to the 27-member bloc, official data shows. Last year about 270,000 “irregular migrants” arrived in the EU via sea crossings, 64 percent more than in 2022. Crossings from […]

An Emirates Boeing 777-300R. The Morocco facility will convert passenger planes to cargo

Boeing plane conversion facility to be built in Casablanca

A production facility is to be set up in Morocco to convert Boeing 777-300ER passenger jets into freighters. Stratos Industries will build three wide-body aircraft hangars at the Mohammed V International Airport in Casablanca as part of a deal between US-based companies Kansas Modification Center (KMC) and Integrated Aerospace Alliance (IAA). KMC will convert up […]

Egypt's wealthiest man, Nassef Sawiris, who lives in Cairo, has interests in construction, manufacturing and sports

Cairo has most billionaires in Africa, but wealthy are leaving

Cairo is home to more billionaires than any other African city, but Egypt is facing an exodus of its wealthiest citizens. The international wealth advisory firm Henley & Partners said Cairo is home to four billionaires, and 30 centi-millionaires – those worth $100 million or more. Most reside in affluent parts of Greater Cairo, including […]

Solar power panel

Cost of Xlinks Morocco-UK project balloons by a third

The cost of an ambitious project to deliver green energy from the south of Morocco to power homes in the UK has ballooned by more than a third to $30 billion. Xlinks First is behind the Morocco-UK renewables project, which would construct the world’s longest high-voltage direct current (HVDC) subsea power cable between the North […]

Morocco gas

British companies strike deal on Moroccan offshore gas licences

Two British energy companies have completed a deal over stakes in two offshore Moroccan gas licences.  The transaction between Chariot Energy and Energean, announced Wednesday, involves the Lixus and Rissana offshore licences. The Lixus Offshore licence covers an area of sea north of Rabat of approximately 1,800 sq km, with water depths ranging from the […]

The US interest rate cuts may affect commodity prices but beyond that Lebanon citizens will not see a difference, says one observer

Lebanon needs more than US rate cuts to turn its economy around

Probable US interest rate cuts could help Jordan and Morocco attract additional foreign investments as well as easing their already manageable loan repayment commitments, experts predict, but Lebanon’s financial problems remain so acute that a reduced debt burden will make little difference. US 10-year treasury yields – the most important determinant of government borrowing conditions […]

Ryanair Morocco

Morocco denies subsidising Ryanair domestic flights

Morocco’s Ministry of Tourism has denied claims that it is subsidising the Irish low-cost carrier Ryanair’s expansion across the country. Ryanair will open domestic flights throughout Morocco from the summer as part of its $1.4 billion investment in the North African country. It had been reported that the Moroccan National Tourism Office would be providing […]

An artist's impression of the new Casablanca cruise terminal to be operated by a consortium led by the UK's GPH

UK’s Global Ports to operate Casablanca cruise terminal

A consortium led by British cruise operator Global Ports Holding (GPH) has secured preferred bidder status for operating a new cruise terminal in Casablanca. The consortium was awarded a 15-year concession agreement with Morocco’s state-owned Agence Nationale des Ports (ANP). The consortium and ANP are working towards finalising the concession terms, the London stock exchange-listed […]

The free trade agreement was signed in May 2022 by the two countries' economy ministers: Orna Barbivai of Israel and the UAE's Abdulla bin Touq Al Marri

Israel’s trade with Arab countries up 16% in 2023

Trade between Israel and the seven Arab countries that have normalised relations with the Jewish state broke records in 2023, exceeding $4 billion, up 16 percent from 2022, according to a report. Bilateral trade among the nations decreased by only 4 percent following the outbreak of the war in Gaza in October, from $937 million […]

Graderco's annual grain business represents over 25% of Morocco’s imports

UAE’s Invictus buys 60% of Moroccan grain trader 

Invictus Investment Company has acquired a 60 percent stake in Morocco’s largest grain trader, Graderco, and its subsidiaries from Zalar Holding.  The deal will lead to 20 percent growth in consolidated revenues over the nine-month post-acquisition period, said the Abu Dhabi-listed company. Invictus reported revenue of AED8.1 billion ($2.2 billion) and 5.4 million metric tonnes in […]

An Al Boraq high-speed train at Tangier-Ville station. The line opened in 2018 and runs to Casablanca

Morocco issues tender for high-speed rail to Marrakech

Morocco has issued a tender for a high-speed rail link as part of its $37 billion strategy to connect more of its cities, ports and airports by train. The national rail operator ONCF is seeking companies to build a 375km line, which will stretch from Kenitra on the northwest coast to Marrakech in the south.  […]

The Al-Oyeynah Research Station in Saudi Arabia. Gulf nations are taking steps to increase renewables investment

Acwa Power faces $47m loss in Morocco solar plant outage

Saudi Arabia’s Acwa Power estimates it will incur a revenue loss of $47 million following a breakdown at one of its Morocco renewable energy plants.   The 150-megawatt Noor III solar power plant will face a “forced outage” until November 2024 due to a leak in the molten salt hot tank, the company said in a […]

The loan will be used to improve public services, and create jobs throughout Morocco

Morocco signs $109m loan deal with African bank

Morocco has received a loan worth €100 million ($109 million) from the African Development Bank to fund new investment and sustainable infrastructure projects across the country. The loan agreement was signed with Fonds d’Equipement Communal, a bank dedicated to financing investment projects and development programmes in Morocco. Funds will be used to improve public services, […]

Leila Benali, Morocco's minister of energy transition and sustainable development at the 6th United Nations Environment Assembly. She says the country is aiming for 7GW of renewable energy by 2030

Morocco offers new incentives for green hydrogen investors

Morocco has launched new incentives to attract investors in green hydrogen projects. The Rabat government has allotted 1 million hectares (almost 3,900 square miles) of land for new projects as part of its “hydrogen offer,” the office of Morocco’s prime minister, Aziz Akhannouch, said in a statement. The first phase involves making 300,000 hectares of […]

A solar installation in Morocco. The $20bn Xlinks Morocco-UK renewables project should be operational by 2030

XLinks reaffirms UK is priority for Morocco power project

British renewable power company Xlinks is “100 percent committed to the UK” despite reports suggesting it was refocusing its attention on Germany. Xlinks is overseeing the $22 billion Morocco-UK renewables project, which involves building solar panel and wind farms in the desert of the North African country. Via the installation of high-voltage direct current (HVDC) […]

Morocco's desalination plants will provide water for OCP Group’s industrial sites and drinking water for the towns of Safi and El Jadida

Morocco gets $188m to build three desalinisation plants

Moroccan fertiliser company OCP Group has secured $188 million worth of funding to build three new seawater desalinisation plants as part of the government’s emergency plan for drinking water supply. The state-backed company signed an agreement with the African Development Bank (AfDB) to fund its green investment programme. The construction of the new desalinisation plants […]

Unemployment increased from 15.8 percent to 16.8 percent in urban areas of Morocco marketplace Marrakesh Marrakech

Morocco job market hit by rise in rural unemployment

Morocco’s unemployment rate increased by 13 percent to nearly 1.6 million last year as the country’s rural areas haemorrhaged jobs. Between 2022 and 2023, the national economy lost 157,000 jobs, according to the latest figures from the Higher Commission of Planning. Although urban areas recorded an increase of 41,000 jobs, employment in rural parts of […]

Moroccan farmer Ahmed Al Amri inspects his crop. The government is encouraging imports as drought affects wheat production

UAE’s Invictus seeks takeover of Moroccan grain trader

Invictus Investment Company is planning to acquire a majority stake in one of the largest grain traders in Morocco as it seeks to expand operations across Africa. The UAE commodities house, which is listed on the Abu Dhabi bourse, is aiming to buy a 60 percent stake in Graderco from Zalar Holding.  The deal is […]

Morocco registered an annual 2.9% reduction in imports

Morocco’s 2023 trade deficit contracts on lower imports

Morocco’s trade deficit narrowed 7.3 percent year on year to $28.6 billion in 2023, the country’s foreign trade watchdog, Office des Change (OE), said in a report. The improvement was due to an annual 2.9 percent reduction in imports, reaching $71.5 billion, and a marginal 0.2 percent rise year on year in export values to […]