Blog

The Moroccan Economy in Brief: Thursday, August 9, 2018

1. A Saudi prince invests in Snapchat: "After his bet on Deezer, Saudi prince Al Walid Ben-Talal is also investing in the social network Snapchat. The businessman injected 250 million dollars into the application, an amount representing 2.3% of the capital. This investment comes at the right time for Snapchat which, for the first time, saw its number of subscribers decline. Between the 1st and 2nd quarter of 2018, the social network lost 2% of its subscribers.”


2. Creation of companies in Oujda: 109 negative certificates issued at the end of July: "The Moroccan Industrial and Commercial Property Office (OMPIC) and the Regional Investment Center (CRI-Oujda) issued a total of 109 negative certificates for the creation of enterprises last July. According to a report by the Trade and Industry Delegation covering Oujda, Berkane, Taourirt, Jerada, and Figuig, analysis of the number of certificates by sector of activity reveals a predominance of the services sector with 63 certificates (58 pc), followed by trade (22 certificates, 20 pc), and construction and public works (21 certificates, 19 pc)."


3. Made in Morroco: The first results of an unpublished study: "It is a study covering a 20-year period of industrial policy. Its starting point is the year 1998, which corresponds to the moment when the government decided to put Morocco on a new path of economic and social development. "Made in Morocco" echoes "Made in America" (1989) and "Made in France" (1993). This is what the August 8 issue of Les Inspirations Eco reveals."


4. Samsung invests $161 billion over three years: "Weakened by weaker than expected smartphone sales in the first quarter, Samsung is launching a major investment plan of $161 billion over 3 years to restore its health. In a press release published on Wednesday, August 8, the South Korean group specifies that the investments will be mainly led by its subsidiary Samsung Electronics, flagship of the group and first world manufacturer of electronic chips."


5. An awareness campaign aimed at users making online payments: "More than 77% of Moroccan buyers consider credit card payment as the most popular online payment option. Moreover, the confidence in their purchases and in their online payments remains quite good (59% and 58% respectively). This is what emerges from the survey conducted by the CMI and in partnership with Visa on the occasion of the launch of an awareness campaign aimed at consumers who make their payments online. This "Security Week" campaign aims to "promote even more secure use of bank cards among consumers, while giving them advice to help them better protect themselves against potential fraud"."