Morocco: Latest News
Colin Kilkelly, 7:00 am
Merzouga, a bustling desert town, is the jumping-off point for journeys into the desert. You’ll need a 4×4 and a local driver. You can feel the sand, soft as talcum powder, sucking the vehicle down as you cross the wadi. The locals are friendly. They’ll invite you for tea in exchange for cigarettes. Nomads have been living here for millennia, but the rhythm of life is the same as it ever was. To be a nomad is the pinnacle of Arabian nobility. The Prophet himself was a nomad. In ancient times, it took camel trains two months to get from Merzouga to Timbuktu. Now the same journey takes two days in a 4×4.
Kevin Mwanza, 5:33 am
Nigeria has signed a deal with Morocco to construct Trans-African gas pipeline that will connect the continent’s largest oil producer to Europe’s lucrative gas market. The 4,000 kilometer-long pipeline, to be funded by the Nigeria Sovereign Investment Authority and Ithmar Capital, a Moroccan sovereign wealth fund. The two governments signed the joint partnership during a state visit by Morocco’s King Mohammed to his Nigerian counterpart,
Dana Sanchez, 1:39 pm
There is a gap for hospital services in Africa and property investors can benefit from this with healthcare real estate investment trusts, an expert says. A REIT is a company that owns, and in most cases operates, income-producing real estate. Large hospital owners like Netcare or Life Healthcare in South Africa could sell hospitals to a property manager who runs a healthcare REIT. The REIT would then lease them back. REITs provide investors with a liquid stake in real estate, special tax considerations and typically high-dividend yields. In more mature markets, healthcare REITs are often popular investments.
Peter Pedroncelli, 12:21 am AFKI Original
The third round of African World Cup qualifying continued this past weekend, with the 20 teams from the continent left with a chance of securing one of the five spots allocated to Africa in action across the continent. This is how the 10 African World Cup qualifying matches turned out for the participating nations looking to earn their ticket to Russia in two years’ time.
Dana Sanchez, 3:36 pm
A hedge fund with Carlyle Group LP, the world’s second-largest private equity firm, has lost $400 million it invested in 2015 in a Moroccan oil refinery deal, according to a securities filing. Saudi billionaire Mohammed al-Amoudi owns 67.26% of Morocco’s Samir refinery. The deal highlights the risks U.S. investors face in emerging markets that have unfamiliar investor-protection laws. Still, despite the risks, investors continue to find the lure of higher growth in emerging markets attractive.
Ishay Govender-Ypma, 7:17 am
The narrow cobbled streets are alive with the colors, smells, and essential rawness of market life. Vendors hawk breakfast breads, olives and live chickens. But we are late for our cooking class at Clock Café, and cannot linger. Donkeys and mules laden with pails of milk are led slowly through the streets. In the gentle lilt of Moroccan Arabic, the donkey minders shoo us out the way. Men and women in plain djebella are buying their breakfasts. It’s a rhythm of the everyday here in Fez. Food is bought fresh. The customers know the vendors by name.
Peter Pedroncelli, 4:50 am AFKI Original
The third round of African World Cup qualifying continues this coming weekend, as the second set of matches see 20 teams from the continent left with a chance of securing one of the five spots allocated to the African continent. This weekend 10 fixtures will be played around the continent in the group stages. Here are 10 African World Cup qualifying matches to look out for this coming weekend.
Dana Sanchez, 5:52 pm
Ghana hasn’t had a national long-haul carrier since Ghana Airways, one of Africa’s oldest airlines, stopped flying in December 2015. Getting one will remove one of the stumbling blocks that prevented Accra from becoming a West African hub for air travel. There is no strong airline and no airport hub in West and Central Africa. Ghana made up for the absence of a strong carrier by issuing other airlines rights to carry passengers from Accra.
Dana Sanchez, 3:24 pm
With a $500,000 US investment, foreigners can buy Mauritian residency and apply for a passport after five years of property ownership. By early 2016, there were 3,200 U.S. dollar millionaires living in Mauritius — population 1.3million. Most are from France and Southern Africa. Part of the attraction is low or no taxes. “No housing or property tax, no inheritance tax on properties purchased and no capital gains tax speaks directly to property investors,” a stakeholder said.
Dana Sanchez, 12:48 pm AFKI Original
New vehicle sales continue to fall in South Africa. The industry needed a creative idea to invigorate its local auto market, excite domestic motor enthusiasts, and appeal to people across sectors. The solution? A Cape Town Motor Show that promoters promise will rival motor shows in Paris, Tokyo, and New York. The show will go over well, a promoter predicts. “People are hungry. People always want to drive a better car. The mood is very positive.”
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