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The Moroccan Economy in Brief: Tuesday, February 12, 2019

Crédit Agricole Group in Morocco once again distinguished:
Crédit Agricole du Maroc Group was once again named "Best Development Finance Institution" in 2018 for the African continent by the Association of African Development Finance Institutions (AADFI). "This distinction, obtained for the third consecutive time and which places the GCAM at the top of African financing and development institutions, confirms Crédit Agricole du Maroc Group's business model and its ability to support, through innovative and adapted mechanisms, all components of the agricultural and rural world, particularly the most vulnerable," the Group says.


The 5th edition of the National Crafts Week brings together 1,200 exhibitors in Marrakech:
The activities of the fifth edition of the National Crafts Week (SNA), which kicked off last Saturday on the Bab Jdid esplanade in Marrakech, continue until the 17th of this month. The event, which brings together more than 1,200 exhibitors from the 12 regions of Morocco, is an opportunity to highlight the contribution of this sector to the national economy. This was underlined by the Minister in charge of the sector, Mohamed Sajid. In a statement to the newspaper "Le Matin", the Minister of Tourism, Air Transport, Crafts and Social Economy stated that the handicraft sector in Morocco employs nearly 2.3 million inhabitants, or nearly 20% of the working population, and contributes 7 to 8% of the gross national product.


Morocco confirms its leadership in Africa:
Morocco is the leading African market of the Société Générale Group. The latter has just published its annual results with very good commercial momentum (+8% for revenues) and profitability for the Retail Banking and International Financial Services businesses in Africa. NBI amounted to €1.4 billion and RNPG to €208 million. This performance is particularly driven by Societe Generale Morocco, which confirmed its position as the group's leading bank on a continental scale in 2018. The Moroccan subsidiary generates net banking income of €410 million, representing 29% of Africa region revenue.


Opening of the 11th edition of the Regional Trade Days:
The eleventh edition of the Trade Days of the Tangiers-Tetouan-Al Hoceima region opened on Friday in Tetouan, on the theme "For a strong trade sector contributing to economic development". This economic meeting, which continues until March 8, is part of the role and structuring mission of the Chamber of Commerce, Industry and Services of the Tangiers-Tetouan-Al Hoceima region (CCISTTA) to boost trade, intensify communication between the main actors in the field in the region, traders and professional associations, and boost trade flows between the region's cities.


Morocco accounts for 50% of the sector in North Africa:
Morocco is the leader in business aviation in North Africa. "It alone accounts for 50% of the private flight segment in the region," said Zouhair Mohamed El Aoufir, CEO of the National Airports Office (ONDA), during a meeting around the 3rd edition of the MEBAA Show Morocco Business Aviation Show to be held on September 25 and 26, 2010, in Marrakech. A meeting that allowed the organizers to share their ambitions to develop the Marrakech exhibition so that it would be equal to that of Dubai.