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The only monarchy in North Africa, Morocco contains a blend of Arab, African, indigenous Berber and European cultures. The kingdom has long maintained close diplomatic, economic and cultural ties to Europe that it continues to deepen and has a reputation as a stable and tolerant state. Morocco encompasses a landmass of 446,500 sq km and is located on the north-western tip of Africa, sitting...

In 2013, Morocco rebounded from a more modest performance in 2012 to deliver 4.4% GDP growth, with the economy bolstered by a return to form in the primary sector thanks to a productive harvest. After 2.7% growth in 2012, economic activity in Morocco expanded much faster in 2013, increasing by 4.4% as GDP reached Dh864.6bn (€76.8bn). This was driven in large part by the agricultural sector,...

Morocco’s banking sector remained resilient in 2013, benefitting from cash injections from Bank Al Maghrib, the central bank, and the industry is among the most sophisticated on the continent. Although liquidity is still less than ideal and non-performing loans have inched upwards, indicators have been positive for the sector, with capital adequacy requirements well above Basel III and...

The year 2013 was one of ups and downs for emerging market equities. The Moroccan All Shares Index (MASI) eased downwards in 2013 for the third consecutive year, ceding 2.6%. However, the decline was markedly slower than in 2012, when it fell 15.3%. The Casablanca Stock Exchange (CSE) certainly grappled with a number of exogenous pressures, hitting a five-year low at the end of August 2013....

With an increasing focus on value-added export industries in manufacturing, Morocco has become one of Africa’s leading countries for industrial FDI. The 2009 strategic plan to bolster six designated segments by investing billions of dirhams and facilitating new investments, has drawn in sizable injections of capital and seen an increase in manufactured production, due to strong performance by...