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

Boston Consulting Group: DG in Morocco named Young Global Leader:

Lisa Ivers, Director of the Moroccan office of Boston Consulting Group (BCG), has been appointed by the World Economic Forum (WEF) as the 2019 Young Global Leader. This award recognizes about 100 young leaders under the age of 40 around the world. The latter are identified and chosen on the basis of their professional background and their contribution to society.



Good results and sustained development for Umnia Bank:

Umnia Bank held a press conference on Wednesday, March 6, during which Mr. Abdessamad Issami, Chairman of the Management Board of the participating bank, presented the financial results and balance sheet for the year 2018. March 6 is also a special date for the bank as it marks the second anniversary of Umnia bank's accreditation by the Central Bank, Mr. Issami raised at the opening of the conference. The latter welcomed the "very honourable" achievements of his bank in both financing and deposit collection for the 2018 financial year.



689 billion dollars went through Fintech in 2018:

New financial technologies play an important role in the development of States. They broaden access to finance, reduce costs and provide new ways of raising funds. "In emerging and developing countries, Fintech offers huge opportunities to strengthen financial inclusion and economic and social development," said Abdellatif Jouahri, Governor of Bank Al-Maghrib at the opening session of the international conference on "Digital transformation: opportunities and risks related to FinTech" held yesterday in Rabat.



Iresen joins the German alliance Hypos:

The Institute for Research in Solar Energy and New Energies (Iresen) has joined the Hypsos network, a German alliance for the promotion of the Hydrogen sector throughout the world. According to the results of two studies, Morocco could capture a significant share of the estimated demand for clean fuels between 2 and 4% of world demand in 2030.



Inwi for the telecom network:

The telecommunications operator "Inwi" has been selected to deploy and manage the telecoms network of the new Casa Anfa cluster, led by the Anfa Urbanization and Development Agency (AUDA), a subsidiary of the Caisse de dépôt et de gestion (CDG) group. Selected after a call for tenders, Inwi will be responsible for the implementation, management and operation of the telecom network in this urban area, the telecommunications operator said in a statement published on Wednesday. According to the press release, Inwi, designated as "operator manager", has the mission to support AUDA in all stages of development, marketing and maintenance, and to take charge of the complete management of the transmission and distribution network.