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  • The Moroccan Economy in Brief: Friday, June 2, 2017: The World Giant ABB Relocates to Morocco

The Moroccan Economy in Brief: Friday, June 2, 2017: The World Giant ABB Relocates to Morocco

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1. "CSR Top Performer": BMCE Bank of Africa is illustrated once again: "Nine factors of social responsibility have enabled BMCE Bank of Africa to confirm its leadership both nationally and among emerging countries. The banking group, rated among 47 banks listed in emerging countries, recently won the "CSR Top Performer" award for the 4th consecutive year. Awarded by the international social agency Vigeo Eiris, this distinction crowns the efforts made by BMCE Bank to put in place the values of transparency, ethics, and equality."


2. The international standard ISO 37001 on anti-corruption management adopted by Morocco: "The National Commission for Standardization of Management Systems, under the Moroccan Institute of Standardization (IMANOR), has adopted as a Moroccan standard the international standard ISO 37001 related to the anti-corruption management system. According to a statement from IMANOR, this standard, adopted at a meeting of the Commission, in the presence of some 40 public and private operators, falls within the framework of Law 12-06 related to standardization, certification, and accreditation."


3. The world giant ABB relocates to Morocco: "ABB, the world leader in energy and automation technologies, comes to the rescue of its Moroccan subsidiary. In fact, in a deficit situation since a few years, ABB Maroc has just raised its capital to 32 million Dirhams as part of a recapitalization of 20 million Dirhams fully subscribed by the Swiss-Swedish group to which it belongs. While bringing fresh cash to an entity whose short-term debt has increased, this transaction allows ABB Maroc to replenish its own funds which had turned red in 2014 before reaching -11 million Dirhams a year later."


4. The Merroun family injects 15 million Dirhams into Ghorghiz Cérame: "In the stricken sector of ceramics in Morocco, the survivors do as best they can. In fact, after the liquidation of Union Cerame and the intermittent shutdown of several production units (including those of Arco Cerame and Facemag), other players, among the nine industrialists in the country, seek to strengthen their financial structure to better cross the storm. This is the case of Ghorghiz Cérame, which has two production units in the region of Tétouan (one of which is now at a standstill)."


5. Super Cérame reflects on an IPO: "The ceramist has just integrated the Elite program, launched by the Casablanca Stock Exchange to accompany and support SMEs in their growth. According to Fouad Benzakour, the Managing Director of Super Cérame, the ultimate objective of this operation is to carry out an IPO. The top management explains that this will allow the company to do without traditional bank financing."


6. Bosch: Two new openings in 2017: "Bosch is diversifying its catalog to be as close as possible to the Moroccan consumer. Thereby, all the cooking plates introduced during the year 2017 are equipped with the "Flame select" option, which makes it possible to regulate the gas power. In addition, products of small household appliances such as culinary preparations, but above all, and this is the greatest pride of Bosch Maroc, a refrigerator is offered with a larger capacity with more than 800 liters gross that allows being in line with the Moroccan consumer."

 

 

Crédit : IMPERIUM MEDIA

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