Adenia, Proparco acquires MEA region’s leading catering service provider Overseas Catering Services

MOROCCO – Overseas Catering Services (OCS), a leading corporate catering and related services provider in Africa and the Middle East, has welcomed new owners to steer it to future growth. Adenia Partners, a private equity firm investing in Africa, has partnered with Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group), to buy the entity for an undisclosed amount. The investment, will support OCS’s organic and external growth and deliver on the management team’s objective to develop a leading platform in the catering and facilities…

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Morocco secures US$131m loan from AfDB for sustainable agriculture

MOROCCO – The Board of Directors of the African Development Bank (AfDB) has approved a new €114 million (US$131.89m) loan to Morocco to enable the implementation of the Support Program for the Inclusive and Sustainable Development of Agricultural and Rural Areas (Padidzar). According to the Moroccan High Commission for Planning (HCP), agriculture, which accounts for 15% of the national wealth produced each year before tourism and industry, is threatened by water stress. The phenomenon caused by drought is a consequence of climate change. In this context, the Padidzar aims to…

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Fertilizer producers OCP, ICL sign agreement to promote sustainability research in Morocco

MOROCCO – Moroccan fertilizer group OCP and ICL Specialty Fertilizer have signed a memorandum of understanding (MoU) to promote sustainable development and the fight against climate change. Under the agreement, the parties will offer funding to support sustainability programs and research at Morocco’s Mohammed VI Polytechnic University (UM6P) and Israel’s Ben Gurion University of the Negev (BGU). The research, according to reports by Morocco Word, will be centred around food security, ecological restoration, smart agriculture, water, climate change, remote sensing, renewable energies, venture capital, among others. The partnership also seeks…

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Moroccan retailtech startup Chari.ma raises US$5m to spearhead expansion plan

MOROCCO – Chari.ma, a Moroccan B2B e-commerce platform that fashions retailers with suppliers has raised US$5 million in the largest venture funding round in the country this year and among the biggest-ever seed funding rounds in the North African nation. The funding round was jointly led by Rocket Internet, Global Founders Capital and P1 Ventures with participations from Plug and Play, Y Combinator, Village Capital, MetLife Foundation, Orange Digital Ventures, Air Angels, SPE Capital, Pincus Private Equity and Reflect Ventures. The Chandaria family, Propertyfinder CEO and founder Michael Lahyani, and…

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Hapag-Lloyd spreads wings across Africa, opens offices in Morocco

MOROCCO – Hapag-Lloyd, a German shipping company mainly transporting agricultural goods out of Africa has set base in Morocco with the opening of its own offices in the country. The logistic company has opened three offices with the headquarter being Casablanca and two satellite offices in both Tangier and Agadir. Morocco, being an important platform for the export of fresh produce, is part of Hapag-Lloyd’s development strategy in the refrigerated container transport sector In addition, the country is perfectly connected to the global Hapag-Lloyd network by the port of Tanger-Med,…

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

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…

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

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…

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

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…

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

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…

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

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,…

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