The Moroccan Economy in Brief: Thursday, December 6, 2018
1. The majority BCP in the capital of the Senegalese start-up Wizall: "Banque Centrale Populaire (BCP) has announced a majority stake in Wizall, a Senegalese start-up that is active in mobile money. This platform, owned by Total Senegal, operates mainly in the payment of salaries and money transfers."
2. Investments: Cimac signs an agreement with the world's leading arbitration institution: "The Casablanca International Center for Mediation and Arbitration (CIMAC) has signed a memorandum of cooperation with the International Center for the Settlement of Investment Disputes (ICSID), the world's leading institution in this field. This agreement, concluded on the fringes of the 4th edition of the Casablanca Arbitration Days, provides for the possibility of organizing arbitration hearings administered by ICSID at CIMAC's premises, contributing to scientific research on dispute settlement and the organization of joint events and seminars."
3. Heetch officially obtains his license to practice in the Wilaya of Casablanca: "Heetch has taken a further step towards the full normalization of its business in Morocco. First legal application of transport in the Kingdom, Heetch has just officially obtained its authorization to operate in the Wilaya of Casablanca, a prelude to legalization throughout the National territory."
4. Launch of Fondation Renault Maroc: "On Thursday morning, November 29, Renault Maroc announced the creation of Fondation Renault Maroc. The new entity gives a new dimension to the Group's social and societal commitments and naturally ensures the continuity of its CSR and sponsorship policy. Its mission is to design and develop a set of actions around two central pillars: inclusion and sustainable mobility."
5. Banks: Société Générale relies on mobile money to grow in Africa: "The French bank Société Générale, present in 19 African countries, wants to benefit from the demographic boom and has pan-African ambitions. It intends to multiply at a lower cost thanks to its mobile money solution,''Yup''. It is considering a partnership with a regional player with a complementary footprint, particularly in East Africa."