Fipar Holding and IFC authorized to increase stake in Retail Holding SA
On September 12, a decree signed by Morocco’s Prime Minister, Aziz Akhannouch, and the Minister of Economy and Finance, Nadia Fettah, authorized Fipar Holding to acquire 12.3% of the capital and voting rights in...
Flavors Food Company (AHG & Marjane) debuts restaurants Pitaya in Casablanca
Pitaya, the renowned Thai street food brand, has opened its first restaurant in Casablanca at Marina Shopping, marking a significant milestone in its international expansion. This launch introduces Moroccan consumers to the authentic flavors...
Crédit Agricole du Maroc shines in first half of 2024 with record growth
Crédit Agricole du Maroc (CAM) has achieved remarkable financial results for the first half of 2024, with an impressive surge in its net profits. The bank's consolidated net income soared by 178% compared to...
Morocco’s real estate market shows signs of strong recovery
Morocco's real estate market is demonstrating promising signs of recovery, supported by solid data. Cement sales surged by 7.2% by the end of August 2024, signaling a positive trend in the construction sector. Simultaneously,...
Ithmar Capital and COFIDES: Two key players driving economic development
This week, Ithmar Capital, Morocco's sovereign wealth fund, hosted a high-level delegation from COFIDES, Spain’s development finance company, to strengthen bilateral cooperation. During this meeting, Ángela Pérez, representing COFIDES, held talks with Obaid Amrane,...
Tamwilcom mobilizes 21 billion dirhams in financing in first half of 2024
Tamwilcom’s efforts to support both businesses and individuals have resulted in the mobilization of 21 billion dirhams (MMDH) in financing during the first half of 2024, backed by commitments totaling 11.8 MMDH. This marks...
Managem’s net profit declines to 259 million dirhams in H1 2024
Managem's net profit attributable to the group (RNPG) dropped to 259 million dirhams (MDH) in the first half of 2024. This decrease is primarily due to higher taxes and an increase in the share...
CMI takes steps to resolve competition concerns amid electronic payments dispute
In May 2023, Naps SA filed a complaint with Morocco's Competition Council, accusing the Centre Monétique Interbancaire (CMI) of engaging in anti-competitive practices in the electronic payments sector. After a thorough review, the Competition...
CIH Bank posts strong results for first half of 2024
CIH Bank continues its upward trend, showing remarkable growth by the end of the first half of the year. Client deposits have reached 76.2 billion dirhams, reflecting a net inflow of 2 billion dirhams—a...
COSUMAR boosts profitability in H1 2024 as local sugar sales climb
In the first half of 2024, COSUMAR, Morocco’s leading sugar producer, recorded a consolidated revenue of 4.98 billion dirhams, representing a modest increase of 0.5% compared to the same period in 2023. This growth...