The Moroccan Economy in Brief: Wednesday, December 5, 2018

1. Financing: $50 million more for the Africa Finance Corporation: "The African Development Bank (AfDB) has announced a $50 million equity investment in the Africa Finance Corporation (AFC), a Lagos-based multilateral financial institution. This funding aims to strengthen the AFC's capacity to finance infrastructure and support the private sector, the AfDB said in a statement published on its portal."

2. Trade: A mega centre soon in Kenitra: "Built on a surface area of 24,700 M², the Kenitra Center shopping centre is a large-scale project located in the heart of the city. It responds to a growing need in the region, which has significant development prospects and aims to create more than 1,000 direct and indirect jobs. The Kenitra Center, which will open its doors next spring, houses more than 380 shops for shopping and also has a food court with 8 restaurants, snacks and 4 cafés, as well as a space dedicated to children with a playroom and a daycare for toddlers. The shops will be set up around a warm and friendly space with a large number of activities."

3. Jet Contractors : Visa for the capital increase: "Jet Contractors has received the visa of the Moroccan Capital Market Authority (AMMC) for a capital increase by cash contribution and by offsetting receivables. The operation concerns a total of 267.99 million dirhams, including 119.99 million dirhams in cash. For the tranche to be paid up in cash, the subscription ratio is set at 5 new shares for 21 preferential subscription rights (DPS). The subscription period is set from December 17 to January 15, 2019."

4. Launch in Casablanca of the "TaQaPro" quality label in photovoltaic solar energy: "The national quality label "TaQaPro" in the photovoltaic solar sector was officially launched on Tuesday in Casablanca, at the initiative of the Moroccan Agency for Energy Efficiency (AMEE), the Moroccan Association of the Solar and Wind Energy Industry (AMISOLE) and the Solar Cluster. "TaqaPro", designed with the support of the German Technical Cooperation (GIZ), aims to integrate companies and installers of photovoltaic solar systems into a "quality" approach, so that users can benefit from a reliable, durable installation that meets their needs."

5. The CMI launches an operation to stimulate card payment in Morocco: "The Centre Monétique Interbancaire (CMI) continues its commitment to the development of electronic payments and the dematerialization of commercial transactions in Morocco. With this in mind, the leading electronic payment institution in the Kingdom is launching, in partnership with AL BARID BANK, ATTIJARIWAFA BANK, BANQUE POPULAIRE, BMCE BANK, BMCI, CIH BANK, CREDIT DU MAROC, CREDIT AGRICOLE DU MAROC, and SOCIÉTÉ GÉNÉRALE, a national operation to promote payment by credit card."