The Moroccan Economy in Brief: Saturday, January 15, 2022

Morocco bets nearly 1 MMDH in a mega "Convention & Exhibition Center" in Marrakech:

On Thursday in Marrakech, the Minister of Tourism, Handicrafts and Social and Solidarity Economy, Fatima-Zahra Ammor, visited the site that will host the future Convention Centre and Exhibition Centre, called " Marrakech Convention & Exhibition Centre ". With an investment of 937 million dirhams, this future Convention and Exhibition Center, of international dimension, is the fruit of a partnership between the Council of the Marrakech-Safi Region, the Moroccan Society of Tourism Engineering (SMIT), the Ministry of Tourism, the Ministry of Industry and Trade, the Ministry of the Interior, the wilaya of the Marrakech-Safi region, and the Deposit and Management Fund (CDG) .

Tanger Med processes 50% of Moroccan imports and exports:

The Tanger Med complex has realized, over a fairly short period of time, a meteoric expansion of port activity, thanks to the far-sighted vision of the King Mohammed VI, emphasized the Deputy Director General of the Tanger Med Port Authority, Hassan Abkari. "The achievement of the nominal capacity in such a short time, during this period which is at least uncertain, reflects and confirms once again the wisdom of the vision of HM the King Mohammed VI, who was responsible for the launch of this major project," indicated Abkari, in a statement to the news channel M24 .

Casablanca sets aside 375 MDH for an emergency program "Covid":

The Council of the Prefecture of Casablanca recently took place its ordinary session of January, during which it adopted the items on the agenda including the emergency program of the Prefecture of Casablanca and the agreement on the financing of rehabilitation services of facilities for patients with Covid 19. In a press release, the council of the prefecture states that the funding allocated to the emergency program of the prefecture of Casablanca amounts to 375 million dirhams, added that three municipalities will be involved in equal parts.

BCP launches its 1st Gender Bond, 200 MDH collected :

On December 31, 2021, the Banque Centrale Populaire raised its first Gender Bond by private placement. The subordinated bond, with a maturity of 4 years, has been fully underwritten by national institutions for a total amount of 200 million dirhams. This operation, a pioneer in Africa, is in line with the strategic, environmental, and social orientations of the Banque Centrale Populaire. It mainly aims at structuring and financing projects undertaken by women in the framework of the development of solidarity finance.

Moroccan bancassurance in figures:

Bancassurance drained 29.9% of the insurance sector's turnover (CA) in 2020, according to the Insurance and Social Security Control Authority (ACAPS). The sector is still dominated by life insurance with 95.3% of the turnover generated, specifies the ACAPS in its annual report 2020 presented on Wednesday by the acting chairman of the Authority, Othman Khalil El Alamy, to the Head of Government, Aziz Akhannouch. In addition, the report indicates that the bancassurance market is driven by 11 banks, 3 finance companies and a microcredit association. This activity focuses on personal insurance, assistance, and credit insurance.