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The Moroccan Economy in Brief: Wednesday, October 10, 2018

1. Sanaa Sayagh at the head of the Roche Maroc Group: "Roche Morocco is strengthening its management and appointing Sanaa Sayagh as the Group's General Manager in the Kingdom. Sanaa Sayagh will officially take up her new position on November 1, 2018, in Casablanca, succeeding Dr. Bart Vanhauwere, recently appointed Director General for Africa. Sanaa Sayagh has been active at Roche Morocco since 1994, and was appointed head pharmacist in 2000 and has held many senior positions over the past two decades."


2. The French target 44% of the Moroccan soft wheat market: "French cereals are expected to continue to gradually regain the ground lost in Morocco two years ago. Indeed, after having satisfied themselves with only 8% of the Moroccan soft wheat market during the 2016-2017 season and having risen to 34% about a year later (which was far from their objective), French cereal farmers want to win a share of about 44% during the 2018-2019 season. This is the objective they set yesterday when they travelled en masse to Casablanca as part of the traditional Franco-Moroccan cereal meetings held each year in the same city. It should be noted that this share reached a peak of more than 65% during the 2015-2016 season, according to France Export Céréales."


3. Crédit du Maroc is arming itself for housing credit: "Crédit du Maroc wants to become the "reference bank" in housing credit. The institution, which claims 6.67% of the market, has initiated "an ecosystem dedicated to this financing with the aim of reinventing it by differentiating itself through innovative solutions and thus developing the bank's retail activity", said Baldoméro Valverde, Chairman of the Management Board of Crédit du Maroc, on October 9 in Casablanca. A multi-channel system has been deployed by the bank, resulting in the launch of a website dedicated to real estate."


4. Vivo Energy Morocco and Injaz Al-Maghrib renew their partnership: "Vivo Energy Morocco has renewed its support for Injaz Al-Maghrib in the field of entrepreneurship education. Through this collaboration, the company encourages the participation of its employees in Injaz Al-Maghrib's initiatives for young students, explains in a statement the company that markets Shell products. The association's entrepreneurship education and awareness programs are designed to unlock the potential of young people and prepare them for their immersion in the job market."


5. Murabaha: 130 million dirhams of financing requests from Arreda: "The participatory window of Crédit du Maroc, Arreda, is on the right track. "We are very satisfied and surprised by the results that have exceeded our expectations," said Baldoméro Valverde, Chairman of the Bank's Management Board on October 9 in Casablanca, on the occasion of the presentation of a new system dedicated to home loans. The participatory activity currently deployed at the Strasbourg agency in Casablanca alone has generated 150 requests for funding for an amount of nearly 130 million dirhams. "This while we have not made any communication around our participatory subsidiary," says Valverde. These requests concern the real estate Murabahah, the only product currently marketed by Arreda's teams."