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Morocco

Morocco shores up finances by choosing IMF deal over bonds

Morocco has not issued an international bond this year due to market volatility and higher interest rates, opting instead for an International Monetary Fund (IMF) credit line to shore up public finances, the finance minister said on Tuesday. Last time Morocco issued an international bond was in 2020 when it raised $3 billion. “This year […]

Liquor, Alcohol, Beverage

UK drinks firms raise glass to Morocco and Tunisia trade deal

British drinks companies have raised a glass after the UK removed trade barriers that deterred alcohol sales to Morocco and Tunisia. The changes in the countries, which extends to Argentina and Angola as well, will help the UK’s products to reach millions of new potential customers and boost alcohol exports, which reached £6.5 billion last […]

Morocco's decline in the agriculture sector has hit its economy hard

Morocco’s economic growth slows as agriculture slumps

Morocco’s economic growth is projected at 1.8 percent in the third quarter of 2022, compared to 2 percent in the previous year, Morocco World News has reported, citing the country’s Higher Commission for Planning. The agriculture sector’s contribution fell by 15.2 percent and is expected to decrease further by almost 16 percent at the end of 2022, […]

Morocco renewables

Answer to UK’s energy needs is blowing in the Moroccan wind

The UK is working with Morocco on an £18 billion ($20bn) plan to build vast solar panel and wind farms in the desert that could power more than seven million British homes by 2030. It will also deliver electricity at about half the rate of that produced by nuclear power plants. With the world in […]

Cow, Cattle, Mammal

Moroccan group to buy half of Spanish animal nutrition firm

Morocco’s fertiliser producer OCP Group has signed an agreement to purchase a 50 percent stake in GlobalFeed SL from Spain’s Fertinagro Biotech, the company said in a statement. The acquisition is part of OCP’s global growth strategy in the animal nutrition market. GlobalFeed’s operations focus on animal nutrition solutions, manufacturing, and distribution of products such […]

PIF has launched Tasaru Mobility Investments to accelerate EV development in Saudi Arabia

Morocco in drive to become a global EV manufacturing hub

Ask anyone to name the global electric vehicle manufacturing powerhouses and the US and China are the first countries that will spring to mind.  But Morocco now looks set to join the big league after its government announced in July that it is planning to ink a deal with several EV battery manufacturers to construct […]