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Tag: Morocco

BOA Morocco secures US$12m from EBRD to support green energy transition 

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MOROCCO – Bank of Africa – BMCE Group (BOA) has secured €13 million (US$12.95m) financial package from the European Bank for Reconstruction and Development (EBRD), supported by the Green Climate Fund (GCF) and the European Union (EU), to support Morocco’s green transition.  Bank of Africa and its leasing subsidiary, Maghrebail, will extend the financing – of which €9.75 million (US$9.71m) will be provided by the EBRD and €3.25…

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Morocco’s Outsourcia Group acquires customer relationship management PhoneAct

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MOROCCO – The Moroccan outsourcing and customer relationship expert Outsourcia Group has announced the acquisition of Tunisia’s specialist in Offshore Customer Relationship Management, PhoneAct. The acquisition, financed by SPE Capital, the largest stakeholder at Outsourcia, led to the transfer of some shares from Outsourcia to the founder of PhoneAct Mehdi Ayed, making him a new partner in the Moroccan group.…

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Moroccan-based investment firm UM6P Ventures backs Infiuss Health

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MOROCCO – UM6P Ventures, an early-stage venture capital firm, has announced its investment in Infiuss Health to improve clinical trial participation and health equity in Africa. Infiuss Health provides clinical trial access to African participants and allows pharmaceutical companies to conduct and monitor these trials via the Infiuss Health Probe Platform. Through a single dashboard, the all-in-one software platform helps…

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Fintech startup Chari secures US$1m from Endeavor Catalyst to strengthen its expansion plan

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MOROCCO – Chari, a B2B e-commerce and fintech startup, becomes the first Moroccan startup to receive US$1 million (10.9 million MAD) from Endeavor Catalyst, an investment fund that is part of the Endeavor network. Endeavor Catalyst’s investment is part of Chari’s Serie-A round. This funding round allows the Moroccan startup to strengthen its continental expansion and begin its shift to…

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BMCE Capital Investment launches its first venture capital for Moroccan startup

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MOROCCO – BMCE Capital Investment, part of the BMCE Capital Group, has announced the launch of its first venture capital dedicated to financing Moroccan startups. The new MAD 50 million (US$4.5 million) fund underlines BMCE Capital Group’s plan to support Moroccan startups in the seed phase. Over the upcoming months, the fund is set to raise money from renowned Moroccan…

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Moroccan OCP Group to acquire 50% stake in Spain based GlobalFeed company

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MOROCCO – Morocco’s OCP Group, one of the world’s leading fertilizer producers, is seeking to diversify its phosphate production operations and become a leading player in the animal nutrition, with the acquisition of 50% stake in GlobalFeed from major Spanish fertilizer producer Fertinagro Biotech. GlobalFeed operates in the animal nutrition segment, manufactures and distributes a wide range of products, including…

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ECOWAS, Nigeria and Morocco sign MoU for Nigeria-Morocco gas pipeline megaproject

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AFRICA – ECOWAS, the Federal Republic of Nigeria and the Kingdom of Morocco have signed a Memorandum of Understanding (MoU) for a gas pipeline project. According to a published joint communique, the Memorandum of Understanding attests to the commitment of ECOWAS and all the countries crossed by the gas pipeline, to contribute to the feasibility and technical studies, the mobilisation…

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BCP, SOWIT partner to boost financial inclusion of Moroccan Farmers

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MOROCCO – Morocco’s commercial bank, Banque Centrale Populaire (BCP) has signed a partnership agreement with Moroccan agritech startup SOWIT to provide farmers in the Beni Mellal-Khenifra region with access to innovative diagnostic and monitoring solutions for sustainable and effective farm management. The agreement was concluded as part of the Regional Investments initiative launched by BCP to assist innovative Moroccan solutions.…

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EBRD to invest US$19m green bond for Morocco’s national railway operator

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MOROCCO – The European Bank for Reconstruction and Development (EBRD) has announced a €19.2 million (US$19.50m) investment in a green bond issue by Morocco’s national railway operator Office National des Chemins de Fer du Maroc (ONCF). The investment in a certified green bond of €95 million (US$96.50m) by the rail operator will be utilised for the refinancing of debt used…

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EBRD, CTF allocate US$54m to repower Morocco’s wind farm

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MOROCCO – The European Bank for Reconstruction and Development (EBRD) and Climate Investment Fund (CTF) are providing €53.5 million (US$54.28m) to repower Africa’s oldest wind farm located in Morocco in an effort to support the country’s transition to a low-carbon economy. The wind farm mis located in Koudia Al Baida, Tlat Taghramt region near Tangier. It is expected to increase…

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