The Moroccan Economy in Brief: Thursday, August 11, 2022

Programme "Relaunch Export": the Ministry of Industry is looking for candidates:

The Ministry of Industry and Trade, in partnership with the Ministry of Economy and Finance, is launching the Moroccan Agency for Development of Investment and Exports (AMDIE) and the Moroccan Association of Exporters (ASMEX), launched an international support programme specific to Moroccan companies with export potential operating in the industrial and service sectors. Called "Export Relaunch", this program will provide “tailor-made, individualized and differentiated support” according to the company’s profile. It is articulated around the company’s real and specific ambitions and needs in terms of international development. Objective: to strengthen its international competitiveness and provide it with the means to compete in foreign markets. The programme targets companies with an annual export turnover of more than 10 million dirhams over the last two financial years.”

Tanger Med: "Marhaba takes place in good conditions":

“The Marhaba 2022” transit operation continues “in good conditions” at the Tanger Med port, while a peak is expected for the last week of this August. The device for the return phase is in place and the port authority of Tanger Med has invited the travelers to consult the traffic forecasts available on the website and the mobile application, and plan their return to avoid important waiting periods, particularly the period of high attendance August from 25 to 30 2022.”

The CMT strengthens its governance:

The Compagnie Minière de Touissit (CMT) is changing its governance. Following the resignation of Juan Carlos Rodriguez Charry from his position as CEO, the company’s Board of Directors appointed Luc Gérard Nyafe as CEO at the Board of Directors meeting on August 8. The Board also co-opted Amine Amor, Jawad Youssefi and Ramon Carrasco. These cooptations will be subject to ratification at the next general meeting of shareholders. It should be noted that Guillaume Leclerc is appointed as interim country manager for Morocco. This reorganization of the Board of Directors provides the company with greater mining expertise and knowledge of the Moroccan financial market. This strengthened governance will enable the company to continue and accelerate its development and knowledge strategy,” explains Luc Gérard Nyafe.

The OMSN is internationally certified:

The Moroccan Observatory of Digital Sovereignty (OMSN) obtains a certification from the IFGICT (The International Federation of Global & Green ICT). It is an international not-for-profit federation, registered in the United States and shortlisted by the UNFCCC - CDM (United Nations Framework Convention on Climate Change – Clean Development Mechanism) as a certified provider of council-related services. training and implementation of energy-efficient technologies applied to the ICT sector. With this certification, the Observatory will be able to deliver certified training courses on topics related to cybersecurity and green technology, adapted to international standards.

Non-financial businesses: Slight increase in debt in 2021:

Financial indebtedness of non-financial enterprises (NFEs) rose by 1.3% in 2021, reaching almost 821 billion dirhams, after a growth of 3.9% in 2019 and 2.7% in 2020. This is reflected in the annual report on financial stability, published by Bank Al-Maghrib (BAM), the Insurance and Social Security Supervisory Authority (ACAPS) and the Moroccan Capital Market Authority (AMMC). This development mainly covers a decrease in the debt of public enterprises from 2% to 271 billion dirhams and an increase in the debt of private NFEs from 3.1% to 550 billion dirhams, notes the document.