Latest news with #AhmedEljechtimi
Zawya
15-07-2025
- Business
- Zawya
Moroccan healthcare company Vicenne's IPO oversubscribed 64 times
The initial public offering (IPO) of Moroccan healthcare company Vicenne was oversubscribed 64 times, the Casablanca stock exchange said on Tuesday. The offering, the first IPO this year, attracted more than 32 billion dirhams ($3.5 bln) in demand for 500 million dirhams in shares. The IPO drew 37,674 investors, including more than 36,000 individual investors from 49 different nationalities. (Reporting by Ahmed Eljechtimi, Editing by Louise Heavens)
Zawya
15-07-2025
- Business
- Zawya
Morocco's economic growth to slow to 4% in 2026, statistics agency says
Morocco's economic growth is likely to slow down to 4% next year from 4.4% expected this year, the official statistics agency HCP said on Tuesday, citing global trade uncertainties. The forecast was based on assumptions of an average wheat harvest and a drop in foreign demand for Moroccan goods, the statistics agency said in a report. "The fragmentation of international trade and persistent uncertainties are expected to weigh on the growth of trade in goods and services, thereby limiting the recovery of foreign demand directed at Morocco," it said. Domestic demand continues to drive imports, contributing to the widening of the current account deficit seen at 1.9% of gross domestic product in 2026, up from 1.8% in 2025, the statistics agency said. The fiscal deficit would narrow to 3.4% of GDP in 2026, from 3.6% this year, as higher tax revenue offset increased government spending, it said. (Reporting by Ahmed Eljechtimi Editing by Tomasz Janowski)
Zawya
03-07-2025
- Business
- Zawya
Morocco to supply 1.1mln tonnes of fertilizers to Bangladesh in 2025-2026
RABAT: Moroccan fertiliser producer OCP Nutricrops said on Wednesday it will supply 1.1 million tonnes of fertilizers to Bangladesh over the period 2025–2026. OCP Nutricorps signed the supply deal with Bangladesh Agricultural Development Corporation, whose officials are visiting Morocco to explore cooperation areas, the company said in a statement. (Reporting by Ahmed Eljechtimi; Editing by Chris Reese)
Zawya
24-06-2025
- Business
- Zawya
Moroccan central bank keeps benchmark interest rate steady at 2.25%
The Moroccan central bank held its benchmark interest rate steady at 2.25%, saying current borrowing costs were consistent with the inflation outlook. Inflation would average 1% in 2025, following a drop in food prices, before ticking up to 1.8% next year, the bank said in a statement following its quarterly board meeting. The forecast remains shrouded in "uncertainty", the bank said citing trade policies, repercussions of geopolitical conflicts and the performance of the domestic farming sector. (Reporting by Ahmed Eljechtimi; Editing by Alison Williams)
Yahoo
11-06-2025
- Health
- Yahoo
Vaccine group Gavi seeks to broaden donor base as aid budgets shrink
By Ahmed Eljechtimi RABAT (Reuters) -Global vaccine group Gavi is seeking new donors for its work funding childhood immunisation in the world's poorest countries, its chief executive told Reuters, as many traditional funders cut international aid budgets. Gavi is aiming to raise $9 billion at a summit in Brussels later this month for its work from 2026-2030, but countries including the United States, the United Kingdom and France have all signalled that they plan to slash global aid funding in the coming years, and their pledges remain uncertain. "We want to broaden our donor base," Gavi's Sania Nishtar told Reuters in Rabat, where she met officials to encourage Morocco to join as a new donor. She said that India and Indonesia, which had previously been supported by Gavi, were now contributing as donors to the organization, which works with low and middle-income countries to buy vaccines for diseases from measles to cholera. Other countries like Portugal have also increased their funding commitment, she said. During her Morocco visit, Nishtar toured a vaccine manufacturing facility near Casablanca under development by Marbio, a biopharmaceutical venture backed by Morocco. She said the plant had "a good chance" of benefiting from Gavi's $1.2 billion African Vaccine Manufacturing Accelerator, a scheme aimed at boosting vaccine production on the continent. Gavi has already sought out more private sector donors, initiated cost-saving initiatives, and discussed closer collaboration with other global health groups as part of plans to try to tackle potential shortfalls in funding. Nishtar said the organization was making contingency plans, but she hoped that donors at the June 25 summit would give enough that they would not be needed. A U.S. government document showed in March that the U.S., which has previously given around $300 million to Gavi annually, did not plan any future funding. Nishtar said that Gavi has not yet received this year's funding, which has already been approved by Congress. Gavi is currently focused on combating a global measles outbreak and is responding to cholera outbreaks in Sudan, South Sudan, and Angola, where it has made special arrangements to supply vaccines from its stockpiles, Nishtar said. It is also supporting Sierra Leone, where the spread of mpox has accelerated.
