Tag: Morocco

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

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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…

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Amethis acquires majority stake in Moroccan distributor of irrigation systems Magriser Group

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MOROCCO – Africa-focused private equity firm Amethis has expanded its portfolio with an investment in Magriser, a pioneer in the distribution and installation of turnkey micro-irrigation and solar pumping systems in Morocco. Under the deal, Amethis has acquired a majority stake through its Amethis MENA Fund II, dedicated to the SMEs in the region. The investment is aimed to enable Magriser to transition in a new development phase which will entail launching its own production unit for micro-irrigation pipes by the end of 2021 and ambitions to expand its activities…

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Fertilizer company OCP Group secures US$350m loan facility from Afreximbank

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MOROCCO – African Export-Import Bank (Afreximbank), the Pan-African multilateral EXIM Bank, has signed a 7-year US$350 million Term Loan Facility to provide financing to OCP Group, a phosphate mining and leading fertilizer company, to support its expansion plans across Africa. The financing is part of Afreximbank’s remit to advance regional trade in Africa where its support is prioritized towards activities of African multinational corporations dubbed “Intra-African Trade Champions” – reflecting their status as key actors in the expansion and acceleration of Intra-African trade. Prof. Benedict Oramah, President of Afreximbank, observed…

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Marlink extends partnership with maritime company Soremar Group to enhance fishing safety

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MOROCCO – Marlink, a provider of Smart Network Solutions, has extended its partnership with Soremar Group, a maritime company, to provide an enhanced range of safety and vessel management services to fishing operators in North Africa. This agreement will enable Soremar clients, companies operating fishing vessels in the Mediterranean and Atlantic Ocean, to access vessel monitoring systems (VMS) using Iridium’s L-band communications. “Fishing operators in North Africa focus on safety compliance and the optimisation of potential catch, so the ability to combine mandated safety services with digital tools is an…

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Nestle invests US$1.3m in installation of private solar station in Morocco in quest for net zero emissions

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MOROCCO – Multinational food manufacturing giant Nestle has inaugurated a private solar station in Morocco at the city of El Jadida in line with its focus on reducing green-gas emissions. The station covers a land of 7,000 square meters adjacent to the company’s factory operating some 2,600photovoltaic panels to produce 1.7 gigawatts of electricity per year, eliminating more than one million kilograms of CO2. Morocco’s Minister of Energy Aziz Rabbah at the inauguration ceremony highlighted that Nestle’s installation of the solar station was in line with the county’s strategy that…

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Fertilizer giant OCP Group launches agricultural development centered website to promote industry growth

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MOROCCO – Morocco’s state-owned phosphate and fertilizer group OCP group has launched a new website dedicate to promote the establishment of agricultural ecosystem under the Al Moutmir initiative. Al Moutmir initiative launched in 2018 is OCP’s model of integrated agricultural development, encompassing a multi-service offering of innovative and personalized solutions to better support farmers. This initiative is focused on promoting best agricultural, technical and governance practices, and in particular uses fertilization as a real lever to improve productivity and preserve natural resources. The newly launched online platform is further expanding…

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Morocco lifts import duties on wheat to build up stock following low production

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MOROCCO – The Government of Morocco has extended the suspension of import duties on common wheat and products until May 31, 2021 in a bid to keep the cost of imports at a competitive level and build stocks. The North African country is facing historically low wheat production due to low rainfall which has made the government turn to imports to ensure supply of the commodity. The country’s cereal production for the 2019-2020 season decreased by 39% compared to the previous season reaching 3.2 million tonnes, according to a report…

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Moroccan B2B e-commerce startup Chari.ma planning expansion after strong growth in Casablanca

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MOROCCO – Chari.ma, a Moroccan B2B e-commerce platform that fashions retailers with suppliers is seeking an investment to enable it expand both at home and into other French-speaking African countries such as Tunisia, Algeria, Ivory Coast and Senegal. This follows its strong growth in its launch market of Casablanca, having already signed up 10,000 shops as its clients, reports Disrupt. Launched early last year, the company uses technology to resolve existing supply chain inefficiencies between retailers and suppliers by allowing traditional proximity store owners to order products through and easy…

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Russia mulls banning Moroccan tomatoes over safety concerns

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MOROCCO – The Russian Federal Service for Veterinary and Phytosanitary Surveillance has announced that it was considering a ban on tomatoes and other vegetables imported from Morocco over food safety concerns. Sergey Dankvert, the head of Rosselkhoznadzor, in an interview with Russian news agency TASS said that the move by the Russian authorities was in an effort to prevent infected tomatoes and vegetables from morocco from entering the Russian market. According to the Russian surveillance institution, some Moroccan vegetables, most-notably tomatoes, are infected with the Pepino mosaic virus whose symptoms…

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Blue Investment Holding acquires 35% stake in Moroccan grocery retailer BIM

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MOROCCO – Blue Investment Holding owned by Helios Investment Partners, a private equity fund manager focused on the Africa region, has acquired 35% stake of BIM’s subsidiary in Morocco for about US$9.6 million. BIM is a leading discount grocery retailer in Turkey listed on the Borsa İstanbul. The stake acquisition takes the value of the Company to over US$200 million. “We are very excited about partnering with BIM, a world class partner and the pioneer of discount retail in Turkey, to invest in their market-leading, fast-growing, and profitable Moroccan business,”…

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