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In recent years Morocco’s banking sector has experienced a period of consolidation at home and expansion abroad following a surge in lending in the decade leading to 2012. The country’s leading banks are now among the largest in Africa, with extensive continent-wide holdings. Despite GDP growth trending lower and the associated slowdown in lending and spike in non-performing loans, profitability and capitalisation have remained relatively stable, underpinned by important regulatory changes. The authorities are working to increase financial inclusion by targeting small and medium-sized enterprises, women, youth and rural residents, all of whom are traditionally under-represented in the financial system. Diversified offerings, including sharia-compliant participatory banking, and financial technology products, such as e-wallets, are important developments towards this end. This chapter contains interviews with Abdellatif Jouahri, Governor, Bank Al Maghrib; and Kamal Mokdad, CEO and Head of International Global Banking, Banque Centrale Populaire.

Supported by a favourable geographic location between Africa and Europe, vast array of natural resources and improved business environment, Morocco’s economy has made important strides over the past decade. Investment in export-oriented manufacturing industries is gradually allowing the country to diversify its economic output. In hand with this, years of investment in infrastructure have strengthened transport and logistics links across the country, facilitating domestic and international trade. However, Morocco continues to face a number of economic challenges. Annual growth rates remain intrinsically linked to agricultural production. In addition, persistent unemployment rates, have prevented large segments of the population from joining the middle class, and subsequently spurred the emigration of qualified graduates and professionals abroad. Aiming to avoid economic stagnation and facing growing demand for more inclusive growth, the authorities have focused on leveraging the positive results achieved through past policies for a renovated growth model. This chapter contains interviews with Mohamed Benchaâboun, Minister of Economy and Finance; and Hicham Boudraa, Acting Managing Director, Moroccan Investment and Export Development Agency.

This section includes a listing of select hotels as well as useful tips for visitors on topics like currency, visas, language, communications, dress code and business hours.

In conjunction with PwC, this chapter explores the taxation system and Trinidad & Tobago’s efforts to build an investor-friendly environment. It also contains a viewpoint from Brian Hackett, Territory Senior Partner, PwC Trinidad and Tobago.

Agriculture still lags behind other sectors and continues to be overshadowed by the energy-driven economy. However, strides have been taken in the areas of training and farm development. The dip in energy prices leading to the 2015 recession emphasised that economic diversification is paramount to the stability of the Trinidad and Tobago economy. Moreover, the high produce import bill needed to sustain the country’s food needs has led to a greater focus on food security. Investment in traditional crops as well as diversification of produce could provide for greater domestic production and less dependence on neighbouring countries. A move towards agro-industry through technological training and graduate grants could provide significant growth in value-added products for domestic consumption and export. This chapter contains an interview with Nirmalla Debysingh-Persad, CEO, National Agricultural Marketing and Development Corporation.