Moody’s Downgrades Outlook for Major Moroccan Banks Amid Economic Concerns
11 April 2021
Four formerly stable Moroccan banks are now on a negative outlook. Moody’s has just confirmed the Ba1 long-term deposit ratings of these banks.
Economy
Morocco Aims to Boost Exports with New Kosher Certification Partnership
11 April 2021
Morocco is showing an interest in the "kosher" market. In this sense, a framework agreement has been signed between the Moroccan Association of Exporters (Asmex) and the (…)
Moroccan Dirham Weakens Against Euro, Gains on Dollar Amid Reserve Changes
11 April 2021
The dirham depreciated by 0.50% against the euro and appreciated by 0.78% against the US dollar, during the period from April 1 to 7, 2021. This is indicated by the indicators (…)
Morocco Streamlines Customs Procedures, Easing Burden on Users
11 April 2021
The new law 55-19 relating to the simplification of administrative procedures and formalities grants certain facilities to client-users, indicates a circular published by the (…)
Tanger Med Industrial Zones See 10% Growth Despite Pandemic Challenges
10 April 2021
The production of the six industrial activity zones of Tanger Med has seen a remarkable increase despite the Coronavirus pandemic. According to the CEO of Tanger Med Zones, (…)
Morocco Pledges Aid for Struggling Cafe and Restaurant Sector Amid Ramadan Strike
10 April 2021
The Moroccan authorities have announced, without much precision, support for the cafe and restaurant sector, which has been engaged in a strike movement since Friday across the (…)
Morocco and Russia Renew Fishing Agreement, Expanding Maritime Partnership
10 April 2021
A maritime partnership agreement has just been adopted between a Moroccan parliamentary commission and Russia. This document replaces the 2016 agreement, which came to an end (…)
Morocco’s Cannabis Legalization Sparks Land Rush in Ketama, Doubling Prices
9 April 2021
The adoption of the draft law on the legal uses of cannabis in Morocco has generated great interest for investors in the Tangier region and others who are flocking to Ketama (…)
LafargeHolcim to Open $300 Million High-Tech Cement Plant in Agadir, Morocco
8 April 2021
LafargeHolcim Maroc plans to commission its Agadir cement plant next July to serve Souss-Massa and the southern provinces of the Kingdom.
Morocco’s Tax Revenues Shift: Corporate Tax Falls 13%, Personal Income Tax Rises
8 April 2021
The Directorate General of Taxes has noted a divergent evolution of revenues from corporate income tax (CIT) and personal income tax (PIT) revenues. While CIT is down 13.2%, (…)