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The Moroccan Economy in Brief: Friday, January 17, 2020

CTM is in the process of acquiring 100% of the capital of Satcoma-Satas Voyageurs:
The Moroccan Transport Company (CTM) has reached an agreement to acquire 100% of the share capital of Satcoma-Satas Voyageurs SARL from the partners of the latter, the Company announced Thursday. In accordance with this agreement, the effective completion of this acquisition is subject to the lifting of a number of conditions precedent, particularly the obtaining of regulatory approval from the competition authorities in Morocco, the company said in a statement.


Al Karama inaugurates a new water bottling plant in Kenitra:
The mineral water company Al Karama, subsidiary of the Ynna Holding group, inaugurates a new bottling unit in Kenitra "Amane Gharb." The plant, which covers an area of 5,000 m², required an investment of MAD 35 million. Its annual production capacity is 30 million liters for 5L bottles, and 10 million liters for 1.5L bottles.


The PSA Group will gain 2.1% market share in Morocco in 2019:
The carmaker PSA closed 2019 with mixed commercial results, with declines in registrations in its main markets. In the Middle East-Africa region, the group saw its market share gain 0.4 points compared to 2018, despite markets that declined by 100,000 units (excluding Iran). Breakthroughs were thus achieved in Morocco (+2.1 points), Turkey (+2.1 points) and Egypt (+6.1 points), the manufacturer states in a press release. In the same region, the group sold 164,266 vehicles, compared with 765,000 worldwide (554,000 light commercial vehicles and 211,000 passenger cars).


Masen invests MAD 367 million in the project company:
Masen has been given the green light to enter the Noor Midelt I round. According to the decision of the Head of Government, co-signed by Finance Minister Mohamed Benchaâboun and published in the Official Gazette of January 9, 2020, the agency, through its subsidiary Masen Capital, is authorized to participate up to 25% in the capital of the project company Noor Midelt I. This represents an investment of about MAD 367 million, which will be paid over a period of 3 years. The project company is also 75% owned by the consortium consisting of EDF Renouvelables (35%), Masdar (30%) and Green of Africa (10%).


Attijariwafa bank and Arab Bank consolidate their partnership:
Attijariwafa bank group and Arab Bank signed last Tuesday a memorandum of understanding. Objective: to strengthen their mutual cooperation in Morocco, the Hashemite Kingdom of Jordan and other countries in which both parties operate, Attijariwafa bank said in a statement. The signing of this memorandum by the presidents of the two groups took place on the sidelines of the Jordanian-Moroccan Investment Forum, which was held in Amman on January 13.