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The Moroccan Economy in Brief: Thursday, February 14, 2019

Casablanca Finance City and Abu Dhabi Global Market join forces:
Casablanca Finance City (CFC) and Abu Dhabi Global Market (ADGM), the international financial centre, signed a memorandum of understanding on Monday in Abu Dhabi to develop financial services in Morocco and the United Arab Emirates. The text of the memorandum was signed by SWC's Director General, Said Ibrahimi and the Director General of the ADGM Registration Authority, Dhaher Bin Dhaher Al Mheiri.


Africa at the time of Civictech:
And seven for the "inwiDAYS". The flagship event of the digital and entrepreneurial scene was held on Thursday, February 7, 2019 in Casablanca. An essential platform for exchange and debate on the technologies of tomorrow, InwiDAYS aims to create an entrepreneurial dynamic by rewarding the most innovative projects. Startups from more than 15 countries on the continent participated in the qualifying phases of the competition. Of the 8 finalists, four represent sub-Saharan African countries. All of them have defended projects on the same theme: Civictech.


80 million dirhams from the EBRD for the automotive sector:
The European Bank for Reconstruction and Development (EBRD) announced on Monday a €7.5 million (MAD80.5 million) loan to Tuyauto Gestamp Morocco, a new automotive parts producer owned 50% by Tuyauto (Morocco) and 50% by Gestamp Automocion (Spain). EBRD funds, which are intended to support the Moroccan automotive sector, will be used to finance the first phase of Tuyauto Gestamp Morocco's activities in welding and assembling metal parts for the new Peugeot-Citroën plant in Morocco, the EBRD said on its website.


Morocco-Australia, a promising partnership to be developed:
Despite the 17,000 km separating them, Morocco and Australia share common values and interests that offer enormous opportunities for operators from both countries to engage in dynamic cooperation and elevate the bilateral economic partnership. With bilateral trade not exceeding $97 million in 2018, the potential is far beyond this performance and there is so much to do. It was with this in mind that a large delegation of Moroccan institutions and economic professionals, led by the Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forestry, Mr Aziz Akhannouch, visited the country from February 4 to 13.


Involys: Strong increase in earnings and new CEO:
The former president of the SNI/ONA group (now Al Mada), Bassim Jaï Hokimi, has just been appointed as CEO of Involys, on the occasion of the meeting of its last Board of Directors. He replaces Mohamed Bachir Rachdi, whom King Mohammed VI recently appointed as President of the National Authority for Integrity, Prevention and the Fight against Corruption (ICPC).


ANCFCC launches the "Mohafadati" service to track land register entries:
As part of its strategy to digitalize services and services and to further ensure better protection of property rights and improve the quality of services provided to citizens and professionals, the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC) has launched the "Mohafadati" service for monitoring land book entries. The "Mohafadati" service allows any owner to join this platform, in Morocco or abroad, to remotely monitor the situation of his registered property. Users of this service will be informed of any operation registered on their land titles by email or SMS: (mortgage, seizure, total or partial sale...)