Morocco's Arrabet and Skaleet partner for a new neo-bank offering in Africa  (Read more...)

Morocco approves Fortescue-OCP green hydrogen joint venture in Morocco

Australian metal mining company Fortescue Ltd and Moroccan fertilizer producer OCP Group have received approval from the Kingdom’s Competition Council to create a joint venture. This partnership will establish a large-scale renewable energy, green hydrogen, and ammonia production hub in Morocco. The equally owned joint venture was approved by the Moroccan regulator during a meeting held on July 24. According to an April press release by OCP, the partnership aims to supply green

Morocco to co-host and join military exercise Arcane Thunder 24

Arcane Thunder 24, a military exercise involving Moroccan soldiers, will be co-hosted by Morocco from August 5 to 16. The exercise will also be partially held in Germany, according to an announcement by the U.S. Army on July 29. Arcane Thunder 24 will feature 300 soldiers from four countries: the U.S., Morocco, Germany, and the United Kingdom. It is a theater-wide electromagnetic warfare precision synchronization exercise. «It’s another opportunity to further strengthen

Morocco PM represents King Mohammed VI at Mauritanian President's inauguration

Head of Government Aziz Akhannouch arrived in Nouakchott on Thursday to represent King Mohammed VI at the inauguration ceremony of Mauritanian President Mohamed Ould Cheikh El Ghazouani, who has been re-elected for a second term. Akhannouch was greeted at Nouakchott airport by Mauritanian Prime Minister Mohamed Ould Bilal Messaoud and Moroccan Ambassador to Mauritania Hamid Chabar. Ould Cheikh El Ghazouani was re-elected for a second term as President of the Islamic Republic of Mauritania

Moroccans rally in Rabat to denounce assassination of Hamas leader

Hundreds of Moroccans took to the streets on the evening of July 31, in a demonstration organized by the National Action Group for Palestine. The protest was in response to the killing of Hamas political leader Ismail Haniyeh in an Israeli raid that targeted his residence, Wednesday, in Tehran, Iran. Participants waved Palestinian flags and chanted slogans in support of the Palestinian resistance and the resilience of the people of Gaza in the face of ongoing Israeli aggression, which has been

Moroccan man kidnapped, forced to transfer bitcoins, and murdered in Kyiv

A Moroccan man was kidnapped, forced to transfer $170,000 worth of bitcoins, and then killed in Kyiv, Ukraine, by four men, according to police on July 29. Quoting a police source, local newspaper Kyiv Independent reported that the victim, who was from Morocco, was abducted from outside his house in Kyiv’s Solomianskyi district around midnight. The four men, who have been arrested and charged with kidnapping and murder, took the victim to an abandoned building, where they coerced

Algeria vows retaliation after France recognizes Morocco's sovereignty over Sahara

After withdrawing its ambassador from Paris in response to France's recognition of Moroccan sovereignty over the Sahara, Algeria has vowed to take further measures. Yesterday, Algerian Foreign Minister Ahmed Attaf confirmed in a press conference that «the initial step of withdrawing the ambassador is not just a call for consultations but a reduction of Algerian representation in France». Attaf described this move as a «strong expression of disapproval» and indicated

UN to uphold Security Council resolutions on Sahara after France's shift

The United Nations (UN) has responded to French President Emmanuel Macron's recognition of Morocco’s sovereignty over Western Sahara. In a daily press briefing, the Spokesperson for the Secretary-General addressed a question about whether France’s shift in position would «affect the UN’s approach to the matter». «We’ve seen reports of the letter conveyed by the President of France to the King of Morocco regarding Western Sahara», said

Moroccan international Yasmine Zouhir signs with FC Betis

Moroccan international Yasmine Zouhir will join the Spanish women's league (Liga F) next season, having signed a contract with FC Betis. The 19-year-old striker signed a two-year contract with the Sevillian side on Wednesday, leaving AC Roma, the Spanish club announced in a press release. Born on July 16, 2005, in Saint-Priest-en-Jarez, France, Zouhir has served as the captain of Morocco's youth national team. The young Moroccan international, who previously played for French club

EU Stance on Western Sahara unchanged despite France's move

Following France's announcement of its recognition of Moroccan sovereignty over the Sahara, the European Union (EU) reiterated on Wednesday that its position on the issue remains unchanged. «It is the responsibility of each member state to react based on its own positions», the EU foreign affairs spokesperson said on Wednesday. «The EU's common position on this issue remains unchanged». The EU continues to support UN Secretary-General Antonio Guterres and his envoy for

French Socialist Party criticizes Macron's recognition of Moroccan sovereignty over Sahara

The French Socialist Party (PS) has spoken out about French President Emmanuel Macron's decision to recognize Morocco’s sovereignty over the Sahara, condemning the «hasty diplomatic shift without consulting parliament» and reaffirming its commitment to a foreign policy that «respects international law, human rights, and the self-determination of peoples». «Like many other French citizens, we observed a letter addressed to King Mohammed VI on the occasion of

FIFA unveils Morocco-Portugal-Spain 2030 World Cup bid details

The International Federation of Association Football (FIFA) revealed the details of the Morocco-Portugal-Spain 2030 World Cup bid on Wednesday, just days after it was submitted by the three countries in Paris. The bid file includes a map showing Morocco in full alongside Portugal and Spain. Spain proposed 11 stadiums, Portugal proposed three, and Morocco nominated six: Tangier, Fez, Marrakech, Agadir, Casablanca, and Rabat. According to FIFA, the Agadir stadium will have a capacity of

Macron informed Tebboune of France's shift on Sahara weeks before official announcement

France’s recognition of Morocco’s sovereignty over the Sahara continues to provoke strong reactions from Algerian officials. This morning, Algeria's Foreign Minister Ahmed Attaf revealed that President Emmanuel Macron informed President Abdelmadjid Tebboune of France's shift in position on the Sahara conflict on June 13, during the G7 summit in Italy. Attaf added that Tebboune «responded to his French counterpart in a very strict, firm, and precise

Morocco's central bank reports 3.9% increase in money supply for 2023

Money supply (aggregate M3) reached 1,750.8 billion dirhams (MMDH) in 2023, reflecting a 3.9% increase year-on-year, according to Bank Al-Maghrib's (BAM) recent annual report on the economic, monetary, and financial situation. By component, sight deposits with banks rose by 6.8%, while term deposits and foreign currency deposits decreased by 10.9% and 12.7%, respectively. Additionally, banknotes in circulation continued to grow robustly, with an increase of 10.9%. However, securities held by

LG Energy Solution considers Morocco for new battery production plant

LG Energy Solution Ltd., a battery company based in Seoul, South Korea, is considering Morocco as a site for constructing a battery production plant. «Morocco is a key candidate for this expansion due to its strategic location and growing industrial capabilities», said Wonjoon Suh, head of LGES’s advanced automotive battery division. In an interview with Reuters earlier in July, Suh mentioned that in addition to Morocco, LGES is also considering Finland and Indonesia as

Paris Olympics : Moroccan boxer Khadija El Mardi advances to quarter finals

Moroccan boxer Khadija El Mardi qualified on Wednesday for the under 75 kg category quarter finals at the Paris-2024 Olympic Games. El Mardi bested Britain's Chantelle Reid in the last 16 on a 3-2 judges' decision. On Tuesday, Moroccan pugilist Widad Bertal qualified for the under 54kg category quarter finals, defeating Thailand's Jutamas Jitpong on a judges' decision (3-2). Meanwhile, her fellow countrywoman Yasmine Mouttaki was eliminated in the under 50kg quarter finals by the

King Mohammed VI invites President Macron to Morocco following France's stance on Sahara

One day after France officially recognized Morocco’s sovereignty over the Sahara in a letter from President Emmanuel Macron, King Mohammed VI responded with a letter expressing appreciation for Paris's «clear and strong position on the Moroccan Sahara». In his letter sent on Wednesday, July 31, the Moroccan monarch thanked President Macron for his «personal commitment to strengthening the partnership between our two countries». «I fully appreciate the clear

A Moroccan-Dutch tax expert challenges NATO Secretary General appointment

Moroccan-Dutch tax specialist and legal advisor Karim Aachboun is seeking to prevent former Dutch Prime Minister Mark Rutte from becoming NATO Secretary General. Aachboun, who has initiated legal action against NATO and Rutte, is aiming to stop Rutte's appointment to avoid him gaining immunity through his new role. Aachboun has two lawsuits against Rutte in the Netherlands: one related to a controversy over allowances and another concerning the death of a Dutch woman in Gaza in October

Israeli man in Morocco divorces wife via zoom in unprecedented case

In an unprecedented move, an Israeli man living in Morocco divorced his wife, who resides in Israel, via Zoom. According to Israeli media, the couple, married for over a decade, had been living separately, with the husband residing in Morocco and the wife in Israel. The wife sought a divorce through the Israeli Family Court and the Rabbinical Court, but the husband reportedly refused to grant the divorce because she lived in Israel. The Agunot Division of the Rabbinical Courts Administration