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Banking / Investment in Morocco

  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • Heirs Holdings and Banque Centrale Populaire of Morocco Sign Investment MOU

    MOROCCO, 2016/12/08 Yesterday, King Mohammed VI of Morocco and President Muhammadu Buhari met at the Presidential Villa to sign bilateral agreements, aimed at strengthening economic ties between Morocco and Nigeria The agreements cover the areas of investment, training, youth skills-building, oil and mining, tourism, infrastructure, banking, finance, insurance and logistics and represent the desire on the part of both countries to deepen political and economic ties.
  • Morocco set to approve 10 Islamic banks before the end of 2016

    CASABLANCA, 2016/07/04 Morocco’s Central Bank has said it would start approving Islamic banks this year with the aim of allowing business to begin in early 2017. The central bank said it had received seven requests to open Islamic banks and three to open windows selling Islamic products. Two Gulf banks want to establish fully owned subsidiaries while four others are partnering with local banks, an official said.
  • Morocco Approved 36 Investment Projects For MAD 63 Billion in 2015

    MOROCCO, 2016/01/05 Morocco’s Investment Commission (AMDI) approved 36 investment projects in 2015 totalingMAD 62.86 billion, to generate 8,452 jobs, Minister of Industry, Trade & New Technologies, Moulay Hafid Elalamy, said. “The year 2015 posted a significant increase in terms of investment all with additional than MAD 47.36 billion and doubling the number of direct jobs to be created, that is 4,395 jobs,”Elalamy said at a press conference on Wednesday, following a conference of the Inter-MinisterialInvestment Committee, held in Rabat under the chairmanship of Chief of Government, AbdelilahBenkirane. Elalamy noted the predominance in the industrial sector in terms of investment and job creation in 2015.
  • Morocco’s insurance industry

    MOROCCO, 2015/12/26 Credit expansion and growing awareness yielded robust increase across Morocco’s insurance market, with life and savings products in particular posting strong performances in the initial half of 2015. While the domestic insurance market continues to provide steady returns, Moroccan institutions are as well building up their networks in sub-Saharan Africa, where low penetration rates and rapid economic development signal formidable increase prospects. Thanks to the expansion efforts of recent years, Moroccan insurers have emerged as major players on the continent and, according to recent rankings by Jeune Afrique magazine, presently account for five of the top-15 insurers on the continent by premiums written.
  • Morocco well-positioned to draw investment to sub-Saharan Africa

    MOROCCO, 2014/08/18 Morocco is well-positioned to be a driving force in order to attract international investment towards sub-Saharan Africa, said, on Monday in Washington, Malian Minister of Industry and Investment Promotion Mustapha Bin Barka. Next several decades of economic presence in Africa, Morocco has the competences and the necessary expertise to better assess dangers facing Africa and play a role of a facilitator to direct international investment to some strategic sectors in sub-Saharan Africa, the Malian minister told MAP.
  • Investment and Partnership opportunities in Morocco,

    PORTUGAL, 2013/07/17 Organized by "World Business Partners" in collaboration with the University of Lisbon, and the Portuguese Industrial Association, under the theme "Shopping for an opportunity," the conference discussed several topics related to the strategy of internationalization of Portuguese companies in this time of crisis, and the need to invest in nations with multiple investment and business opportunities such as Morocco. Speaking on this occasion, Ambassador of Morocco to Portugal, Karima Benyaich, gave an overview of the political reforms in Morocco and the performance of the Moroccan economy, highlighting the evolution made by the Kingdom in different sectors inclunding the institutional reforms launched to stimulate business climate for foreign investment .
  • Mobile Banking Prioritised As Kenya, Morocco Woo Investors

    KENYA, 2013/06/29 The Morocco government this Monday held closed door discussions with senior Kenya government officials in effort to overcome barriers of trade between the two sea-port endowed nations. The talks, which as well highlighted the opportunity that exists within mobile banking, were held in the sidelines of a business exchange visit to Nairobi by over 106 Moroccan investors under the banner of the Maroc Export Promotion Centre. Trade Minister for Morocco, Dr Abdelkader Amara while addressing a room packed with Kenyan and Moroccan business class, termed an agreement signed between the two nations as a “significant initial step towards improved trade volumes between the two nations.”
  • Morocco to enact sukuk law

    CASABLANCA, 2013/05/18 Morocco is finalising the publication of a new securitisation law that will allow the national and companies to issue sukuk, the Islamic equivalent of bonds, and preparations for a corporate and a sovereign bond are by presently underway, according to Islamic finance experts.