Acquisition

Articles

• Rabat Partners with South Korea to Introduce Electric Buses Ahead of 2030 World Cup
  23 March, by Sylvanus

  With a view to the 2030 World Cup, Rabat plans to acquire thousands of buses. In this regard, the city has entered into a partnership with the Korean International Cooperation Agency (KOICA).
  On Friday, Fatiha El Moudni, mayor of Rabat, and Hyewon Cho, country director of the Korean International Cooperation Agency (KOICA), signed a memorandum of understanding to launch a sustainable public transport project in the Moroccan capital. Funded by KOICA, the $13 million project plans to (…)

• OCP Acquires Majority Stake in Iconic Marrakech Hotel La Mamounia for $170 Million
  20 July 2024, by Sylvanus

  The global phosphate giant, OCP, has become the majority shareholder of the La Mamounia hotel following the state’s sale of its stake in the establishment. This operation is part of the policy of divestment of assets deemed non-essential, aimed at financing national development initiatives.
  The Office Chérifien des Phosphates (OCP) has acquired the state’s stake in the La Mamounia hotel for 1.7 billion dirhams. An acquisition that allows it to become the majority shareholder of the (…)

• Morocco’s Military Modernization Raises Concerns in Spain
  12 August 2019, by Kamal

  The Moroccan military arsenal is causing distrust among Spanish officials. An Iberian newspaper highlights the modernization of the Kingdom’s three armies, and reveals the great concern of the officials of the army of the northern neighbor.
  According to the report of the Spanish newspaper, the Moroccan army has significantly enriched and modernized its military arsenal over the past decade. The latest acquisitions of the Royal Armed Forces (FAR), in F-16 fighters, are likely to change the (…)

• Morocco Launches Tender for 20-Meter Coastal Research Vessel
  17 August 2019, by Sylvanus

  Morocco is about to acquire a coastal scientific research vessel. To this end, the National Institute of Fisheries Research (INRH) has launched a tender for its design and construction.
  A coastal scientific research vessel for Morocco. This is the ambitious project of the Kingdom. According to the Specifications Booklet (CPS) accompanying the tender of the National Institute of Fisheries Research (INRH), it is a coastal research vessel, measuring 20 meters long by 6.5 meters wide, reports (…)

• Maroc Telecom Expands into Chad with Acquisition of Tigo Mobile Operator
  17 August 2019, by Sylvanus

  Maroc Telecom has concluded, in N’Djamena, the acquisition of the mobile operator Millicom Chad with its Tigo brand.
  Tigo is expanding with the acquisition of Millicom Chad, which has become Millicom Tigo. According to Idriss Bachar, Chadian Minister of Posts and New Information and Communication Technologies, the steps taken to achieve this result proved successful in March 2019. Thus, all the shares held in the capital of Millicom Chad were sold to Maroc Telecom.
  "On June 26, 2019, (…)

• King Mohammed VI of Morocco Ranks Among World’s Wealthiest Monarchs, Fortune Estimated at $2.1 Billion
  31 August 2019, by Bladi.net

  With a fortune estimated at $2.1 billion, King Mohammed VI is one of the ten largest royal fortunes in the world, according to a ranking compiled by an American website.
  It is Prince Albert II of Monaco who holds the rear of this Top 10, with a fortune estimated at $1 billion, which would represent, among other things, a quarter of the lands on which he reigns as well as a collection of vintage cars. In 9th position comes Emir Sheikh Tamim bin Hamad Al Thani of Qatar who inherited the (…)

• Morocco Acquires 100,000 COVID-19 Test Kits as Part of $2.4 Billion Pandemic Response Fund
  29 March 2020, by Sylvanus

  The special fund dedicated to the management of the Covid-19 disease, endowed with more than 25 billion dirhams (2.4 billion euros), was used to acquire this large quantity of test kits costing two billion dirhams. The state and various donations from public and private companies have helped to feed this fund set up on the instructions of King Mohammed VI.
  It was used to purchase medicines, 1,000 intensive care beds (in addition to the existing 1,642 beds), 550 ventilators, 100,000 test (…)

• Morocco Secures $211 Million Loan to Boost Military Arsenal with French Missiles
  26 May 2020, by Sylvanus

  This announcement follows a $211 million loan granted to Morocco by the French banking group BNP Paribas. The acquisition of missiles and missile defense systems from the missile manufacturer MBDA France is one of the priorities included in Morocco’s five-year plan, implemented since 2017.
  The objective is to establish the regional military supremacy of the kingdom through the modernization of its military forces. Morocco has planned a budget of $20 billion to achieve this goal.
  Since (…)

• Moroccan Auditors Slam Transport Ministry for Excessive Spending and Poor Oversight
  17 September 2019, by Sylvanus

  The Court of Auditors strongly criticizes the budgetary and accounting management of the Ministry of Equipment, Transport, Logistics and Water, due to the overcharging noted in the acquisition of equipment.
  Too many spending gaps (overcharging) at the Ministry of Equipment, Transport, Logistics and Water, as revealed by the 2018 Annual Report of the Moroccan Court of Auditors.
  "The Ministry does not have a clear policy or written measures defining the responsibilities and qualitative (…)

• Derichebourg Exits Moroccan Waste Management Market, Shifts Focus to Europe
  27 September 2019, by Ginette

  The recycling group Derichebourg has announced the sale of its 51% stake in the holding company that groups together all of its household waste collection and service activities in Morocco.
  The group had won a contract in 2014 to manage the household waste collection of two districts of Marrakech, and another in 2015 for the waste of part of the city of Rabat.
  This decision to sell the holding company, Derichebourg AD development, is part of "the continuation of its growth strategy on (…)