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INTO AFRICA June 2019 Edition – African Banking: Emerging Growth

Welcome to the June 2019 edition of INTO AFRICA, a publication written by the professionals, for professionals, investors, policymakers … Advancing and providing fresh insight into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge-sharing. The edition is titled: African Banking: Emerging Growth. African countries have made progress in strengthening their banking sectors and most have adopted several new regulations, such as the clarification of the definition of systemically important institutions in line with…

Exclusive Interview: Mohamed El Kettani, Chairman and CEO of Attijariwafa Bank Morocco

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LAGOS (Capital Markets in Africa) – Mohamed El Kettani, Chairman and Chief Executive Officer of Attijariwafa Bank Morocco, grants an exclusive interview to Capital Markets in Africa. He shared with us his personal life experiences and leadership style as well as Attijariwaja bank’s long-term strategic plans to maximize profitability and enhance shareholders’ value. In addition, Mohamed viewed that Moroccan banking sector has achieved an impressive transformation over the two last decades, thanks to aggressive investment strategies…

Morocco Central Bank Holds Rates, Citing Inflation Prospects

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CASABLANCA (Capital Markets in Africa) – Morocco’s central bank kept its benchmark interest rate unchanged despite rising inflation that’s prompted a damaging product boycott. The central bank kept the key rate at 2.25 percent, citing medium-term inflation and growth prospects. Last month the general affairs minister said the economy could withstand annual price growth of as much as 3 percent, above the 2.7 percent reached in April that was near a five-year high. Spurred by temporary…

Moroccan Potash Hopeful Wins London. Now It Has to Build Mine

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CASABLANCA (Capital Markets in Africa) – Potash developer Emmerson Plc staged a strong return on the London Stock Exchange — its shares surging 62 percent on the first day of being re-admitted as the miner set its sights on a deal with Moroccan fertilizer giant Office Cherifien des Phosphates. The Isle of Man-based Emmerson, which is building the Khemisset potash mine in northern Morocco, was re-admitted to the LSE after raising 6 million pounds ($8…

Morocco: Growth projected at 4.5% over the medium term

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RABAT (Capital Markets in Africa) – The International Monetary Fund projected Morocco’s real GDP growth to decelerate from 4.4% in 2017 to 3.1% in 2018, as agricultural production returns to its normal level following high output last year. But it expected growth to accelerate gradually to about 4.5% in the medium term and to remain favourable in case of improved external conditions and sustained reform implementation. Further, it forecast the inflation rate to average 1.3%…

Morocco’s credit profile reflects move towards value-added exports and fiscal progress

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RABAT (Capital Markets in Africa) – Morocco’s (Ba1 positive) credit strengths reflects a structural shift towards higher value-added export industries and fiscal improvements which could lead to stronger non-agricultural growth and a stabilization and gradual reduction in public sector debt, Moody’s Investors Service said in a report published last Friday. The main constraints on Morocco’s rating are relatively low GDP per capita, a volatile growth pattern and a relatively high, but affordable, debt-to-GDP ratio. A…

Morocco Seeks to Defeat U.S. With Fifth Soccer World Cup Bid

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CASABLANCA (Capital Markets in Africa) – It has campaigned unsuccessfully four times before and is the sole challenger to a formidable joint bid by the U.S., Canada and Mexico. Yet Morocco still believes it has a shot at hosting the 2026 soccer World Cup. At the campaign’s launch in Casablanca on Tuesday, Moroccan officials argued the country was located in a more convenient time zone for the majority of fans, while pledging not to exploit…

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