Newsletter CFC Insider July 2017
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NEWS
Morocco Prepares for First Stage of Currency Flexibility
Morocco's central bank is due to announce this week the date for the first phase of liberalising the dirham currency, an IMF-backed reform to strengthen the North African kingdom's economy. Most economists expect the currency transition to be smooth with foreign reserves solid, the dirham balanced and public finances improved by lower global oil prices that eased the cost of energy imports.
Citroen-Peugeot Plant to Produce 90,000 vehicles in Morocco by 2019
Construction on a PSA Peugeot Citroën plant was launched in Kenitra on Thursday, in the presence of the PSA Group CEO and the Minister of Industry Investment, Trade and the Digital Economy, Moulay Hafid Elalamy. The plant, which will be completed...
AfDB approves US$ 15 million equity investment in Shore Capital Fund to support inclusive growth in Africa 
The Board of Directors of the African Development Bank (AfDB) has approved a US$ 15 million investment in Shore Capital Fund III, a multinational Private Equity Fund which promotes financial inclusion by supporting financial institutions serving Africa’s low income...
Africa Needs Morocco to Overcome Obstacles: AU Commission President
The challenges that the African continent faces cannot be overcome without the help of Morocco, says Moussa Faki Mahamat, the President of African Union Commission (AUC). In an interview with Moroccan news agency MAP on Thursday June 22  ahead of the 29th African Union Summit, which is scheduled from 27 June to 4 July in Addis Ababa...
OCP Africa launches Agribooster scheme for Kaduna farmers
In order to improve the small farmers agricultural practices and ensure food security in the country, OCP Africa, in conjunction with the federal and Kaduna State governments, has launched Agribooster Offer programme targeted 5,000 maize farmers in Kaduna.
Nigerian Commercial Banks raise $81mln to finance Agro-based SMEs
Commercial banks in Nigeria have raised the sum of N26 billion ($81 million) as part of vows to finance agro-based small and medium scale enterprises (SMEs) in the country, according to Bola Adesola (photo), the Managing Director of Standard Chartered Bank.
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