AFRICA'S NO.1 FOOD, BEVERAGE & MILLING INDUSTRY MAGAZINE

Morocco, France sign agreements to promote climate-smart farming practices

Jul 19, 2021Jul 19, 2021 Editor

MOROCCO – Morocco has entered into an agreement with France to support the “Green Generation 2020-2030” strategy, aimed to promote agricultural sustainability throughout the Kingdom with US$177 million financing. Under the new agreement, the Moroccan government and the French Development Agency (AFD), will work together to support the country’s agricultural industry, and make upgrades to its infrastructure to improve the sector’s sustainability. According to reports by Morocco World, some of the upgrades will include developing agricultural and semi-agricultural entrepreneurship, as well as encouraging agricultural practices that sustainably utilize the natural…

US fast food chains Dunkin’ Donuts, Baskin Robbins open flagship store in Morocco

Jul 6, 2021Jul 6, 2021 Editor

MOROCCO – Dunkin’ Donuts, America’s most popular coffee and baked goods restaurant chain, has landed in Morocco with the opening of the Kingdom’s first outlet at Rabat. Dunkin’ Donuts, which was previously owned by Dunkin’ Brands Group, often operates side by side with its sister company Baskin Robbins, the world’s largest chain of ice cream specialty shops. This will add a wide range of options for consumers to choose from, enabling the to relish in a variety of ice-cream flavors alongside Dunkin’s famous donuts, bangles and breakfast sandwiches, among other…

Morocco to reduce reliance on grain imports in anticipation of triple grain out-put in 2021/22

Jul 5, 2021Jul 5, 2021 Editor

MOROCCO – Morocco is set to register a ten-year high production average of grains in MY 2021/22 by 26.3%, following a bumper harvest due to favourable weather conditions. This was revealed by the Ministry of Agriculture, forecasting total wheat and barley production at 9.8 million metric tons, reflecting a vast increase of 206%, from production out-put registered in MY 2020/21. The total production estimates for the period under review include, 4.8 MMT of common wheat, 2.4 MMT of durum wheat, and 2.6 MMT of barley. In a bid to protect…

Leading Moroccan agricultural companies CMGP, CAS complete merger creating pan-African entity

Jul 2, 2021Jul 2, 2021 Editor

MOROCCO – African Development Partners II (ADP II), a fund advised by Development Partners International (DPI), and AfricInvest, have announced the completion of merger between Compagnie Marocaine de Goutte à Goutte et de Pompage’s (CMGP) and Comptoir Agricole du Souss (CAS), creating a new champion in Moroccan and African agriculture, known as CMGP-CAS. The merger brings AfricInvest into the partnership alongside ADP II, through an investment targeting the expansion of efficient irrigation and agricultural water management technologies, to enable greater output and sustainability in agricultural production. CMGP is a leading…

Fertilizer major OCP Group expands into Sub-Saharan Africa with US$100m support from IFC

Jun 30, 2021Jun 30, 2021 Editor

MOROCCO – OCP Group, the world’s largest phosphate mining and leading global fertilizer group, has inked a US$100 million financing agreement with IFC to expand its value chain in Africa. The project aims to boost OCP’s economic development agenda in the continent, as it sets up sustainable food systems in the region. According to IFC, the funds will be majorly channelled towards expanding the fertilizer company’s logistics networks. The agreement also seeks to increase the availability of fertilizers adapted to local soils and crops, in Cote d’Ivoire, Ethiopia, Ghana, Kenya,…

EIB strengthens its support to Morocco to optimize supply, distribution of drinking water

Jun 25, 2021Jun 25, 2021 Editor

MOROCCO – Morocco’s National Office for Electricity and Drinking Water (ONEE) and the European Investment Bank (EIB) have signed a new agreement worth €37.5 million (US$48.9m). The foreign investment aims to rehabilitate and improve Morocco’s drinking water supply production sites along with distribution infrastructures across the kingdom. The planned investments will ensure the reliability of the drinking water supply and improve the living conditions of the population, mainly in rural areas. It will also help reduce greenhouse gas emissions by reducing water losses in the country’s distribution networks, while strengthening…

European seafood processor Sykes invests US$47.7m in Morocco to establish two processing plants

Jun 23, 2021Jun 23, 2021 Editor

MOROCCO – Sykes Seafood, British specialist in seafood processing, is seeking to invest €40 million (US$47.7m) in the establishment of two new factories in Northern Morocco over the next two years. The new facilities will join the company’s large-scale prawn peeling plant in Tangier, operated by Klaas Puul. The Netherlands-based Klaas Puul, has been operating in Morocco since 1989 and was acquired by Sykes Seafood in 2020, creating a €300m (US$358m) pan-European seafood business. Klaas Puul specializes in shrimps, prawns, and mussels while Sykes offers both saltwater and freshwater fish.…

Turkish retailer BIM sells 35% minority stake in Morocco’s unit to Blue Investment Holding

May 12, 2021May 12, 2021 Editor

MOROCCO – BIM, a Turkish retail chain company, has announced the sale of 35% minority shares of the capital of its subsidiary in Morocco, Bim Stores SARL, to Blue Investment Holding, affiliated with British private equity fund Helios Investment Partners. BIM Morocco said that the total value of the sales stands at MAD 742.10 million (US$83.2 million), with the sales price per share standing at MAD 1,000 (US$112.83). BIM Morocco proceeded to the completion of its sales transaction with Blue Investment holding after both entities signed a sale and purchase…

Innovation accelerator Impact Lab launches Agritech Launchpad for innovative entrepreneurship

May 8, 2021May 8, 2021 Editor

MOROCCO – Impact Lab, an African innovation accelerator, officially launched Launchpad Agritech, an acceleration program dedicated to the promotion of innovative entrepreneurship in the Moroccan agro-industry. With this initiative, Impact Lab aims to accelerate the marketing of Moroccan Agritech startups, but also to encourage the future generation of Moroccan Agritech entrepreneurs. “We are convinced that Morocco has the potential to position itself as a major innovation hub in the agro-industrial sector in Africa. “However, the ecosystem of Agritech startups in Morocco is still weak, and innovation opportunities in the sector…

Morocco records rise in fruits, vegetable exports to UK by 51% in January post Brexit

Mar 26, 2021Mar 26, 2021 Editor

MOROCCO – Moroccan exports of fruit and vegetables to the United Kingdom have grown exponentially, following the Union’s withdrawal from the EU on December 31, 2020. Ever since the result of the Brexit referendum, the UK government has been looking to expand its diplomatic and economic relationships. One facet of this has materialized through the UK’s imports of fruit and vegetables, as it looks to decrease its reliance on EU member states. As part of the UK’s renewed efforts to consolidate new partnerships following Brexit, Poole Harbour Commissioners announced a…