Morocco seeks to expand International Cooperation on renewable energy

MOROCCO – The government of Morocco aims to further strengthen international cooperation in renewable energy, announced Minister of Energy Transition and Sustainable Development Leila Benali. Benali said that the kingdom seeks to establish more cooperation with countries and international bodies to attract foreign investments and transfer technology, particularly in the energy field. The minister made her remarks at the 26th…

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Chariot raises US$25.5M for offshore gas project in Morocco

MOROCCO – Africa-focused energy exploration company Chariot has raised US$ 25.5 million to progress its flagship Anchois offshore gas project in Morocco, as well as its other renewable energy projects across Africa. The Anchois gas development project, which falls under the Lixus Offshore drilling license, covers an area of around 2,390km², with a water depth that ranges from the coastline…

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Skaleet partners Mobiblanc for cutting-edge technology to serve banks across Africa

MOROCCO – Skaleet, an international fintech providing a next-generation Core Banking Platform (CBP), has partnered with Mobiblanc, an Agile Digital Services Enterprise (ESN), to offer turnkey solutions to financial institutions across Africa. The partnership will ensure that financial institutions have the capacities to launch new digital and innovative financial solutions that they can provide to their customers, whether businesses or…

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Oracle opens new research and development lab in Morocco

MOROCCO – American multinational computer tech firm Oracle has announced it will establish a new branch of Oracle Labs, Oracle’s advanced research arm, at Casanearshore Park in Casablanca, Morocco, to house up to 100 researchers. Researchers at the new facility will use Oracle’s cloud, AI, and machine learning technologies to tackle the most pressing challenges facing business, science, and the…

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Autochek acquires Morocco’s KIFAL Auto to drive North Africa expansion

MOROCCO – Autochek, the automotive technology company making car ownership more accessible and affordable across Africa, has announced the acquisition of Morocco’s KIFAL Auto to drive its expansion into North Africa. This acquisition represents the first major expansion of a West Africa-based startup into North Africa and it will facilitate effective Pan-African collaboration to drive innovation across the continent’s growing…

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French Development Agency loans US$104.78M to Moroccan Water Company

MOROCCO – The French Development Agency (AFD) has agreed to provide MAD1.05 billion (US$104.78 million) loan to Morocco’s RADEEM and RADEETA through two separate agreements. The two agreements intend to facilitate access to sanitation and drinking water services for more than 1.8 million people living in the autonomous water companies’ utility territories. These territories include: Radeej (El Jadida), Radeel (Larache),…

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EBRD provides US$41.71M loan to Morocco’s Ports Agency for climate resilience

MOROCCO – The European Bank for Reconstruction and Development (EBRD) has provided US$41.71 million loan to Moroccan Agence Nationale des Ports (ANP) for climate resilience of ports of the North African Kingdom. The loan is the first to a Moroccan state-owned entity without a sovereign guarantee. It will comprise two tranches: a US$15.64 million committed loan and US$26.07 million of…

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Credit Agricole partners Mastercard to introduce innovative payment solutions in Morocco

MOROCCO – Credit Agricole (CAM) has signed a long-term strategic partnership with Mastercard to implement new technologies, products, and services that will render transparent and secure transactions for the Moroccan market. With the agreement, CAM becomes the first African bank to launch the cards digitization service on E-commerce websites that supports the Mastercard’s digital enablement service for merchants also known…

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Morocco partners Saudi-Arabia to intensify renewable energy cooperation

MOROCCO – The government of Morocco has signed a memorandum of understanding with Saudi Arabia on the peaceful use of atomic energy. The signing of the agreement was done by Morocco’s minister of Energy Transition and Sustainable Development Leila Benali and Saudi-Arabia’s Minister of Energy, Prince Abdulaziz bin Salman. The memorandum aims to increase the two countries’ engagements in the…

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Stellantis reports US$43.57B net revenues in first quarter of 2022

MOROCCO – Stellantis, a multinational car manufacturer present in Morocco, has reported a turnover of US$43.57 billion in the first quarter (Q1) of 2022, up 12% compared to last year’s US$38.94billion. According to Stellantis’ reporting, its shipment volume decreased by 12% in Q1 2022, due to the global shortage in semiconductor chips, an essential micro-electric component for cars. Over the…

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