Latest news with #OfficialBulletin
Ya Biladi
21-05-2025
- Business
- Ya Biladi
Morocco issues first ESCO authorization, boosting energy efficiency and job creation
The Ministry of Energy Transition and Sustainable Development (MTEDD) has announced the issuance of Morocco's first Energy Services Company (ESCO) authorization. This milestone is part of the implementation of Decree No. 2-24-153, enacted under Law No. 47-09 on energy efficiency and published in the Official Bulletin last November. This initial authorization represents a key step in operationalizing the regulatory framework for energy efficiency. It builds on the momentum generated by the ministry, notably through the decree regulating the accreditation of entities responsible for mandatory energy audits, under which 25 companies have already been approved. ESCOs are a new generation of energy actors expected to play a pivotal role in Morocco's energy transition. Through energy performance contracts, binding them to clients with clear, measurable targets, these companies aim to reduce energy consumption and optimize usage across various sectors. Energy efficiency is increasingly recognized as a key driver of job creation, giving rise to a range of fast-growing professions, from energy maintenance to home automation. The new regulatory framework is designed to support the development of a national ecosystem of specialized companies, while fostering skill development and unlocking high-value economic opportunities. The MTEDD also reaffirmed its commitment to supporting all companies seeking to join this ecosystem and contribute to building a more sustainable, energy-efficient economy.
Morocco World
20-05-2025
- Business
- Morocco World
Morocco Grants First ESCO Authorization to Boost Energy Efficiency
Doha – Morocco's Ministry of Energy Transition and Sustainable Development has issued the country's first Energy Services Company (ESCO) authorization. This development implements Decree No. 2-24-153, applying Law No. 47-09 on energy efficiency published in the Official Bulletin last November. This authorization represents an important step in operationalizing the regulatory framework for energy efficiency. It builds on the ministry's ongoing efforts, including the decree on accreditation of organizations responsible for mandatory energy audits, which has already authorized 25 companies. ESCOs are a new generation of energy specialists designed to transform how buildings and facilities manage energy consumption. These companies provide comprehensive services, including energy audits, system design, implementation of efficiency measures, and ongoing monitoring. Their business model centers on energy performance contracts where payment is directly linked to actual energy savings achieved, reducing financial risk for clients. Through these performance-based contracts that connect ESCOs to their clients through measurable targets, these companies will actively work to cut energy consumption and optimize usage across various sectors including industrial, commercial, and residential buildings. Through energy performance contracts that bind ESCOs to their clients based on measurable objectives, these companies will actively help reduce energy consumption and optimize usage across various sectors. Energy efficiency is now recognized as a major driver of job creation in the sector. New careers are emerging, ranging from energy maintenance to home automation. This new regulatory framework aims to foster the development of a national ecosystem of specialized companies while promoting skills training and creating high-value economic opportunities. The Ministry reaffirmed its commitment to supporting any company wishing to join this ecosystem and contribute to building a more sustainable and energy-efficient economy. Tags: Energy Services CompanyEnergy transitionESCO
Morocco World
10-05-2025
- Health
- Morocco World
Morocco to Add Blood Type on ID Cards
Rabat — A new legislative proposal aims to add blood type information to electronic national identity cards, transforming a simple ID into a potential lifesaver during emergencies. The bill proposes modifying Articles 4 and 5 of Law 04-20, which regulates National Electronic Identity Card (CNIE), to include the cardholder's blood type as mandatory information. This change would help medical teams quickly access this vital data during accidents or emergencies, reducing the risk of transfusion errors and speeding up treatment. The initiative is not just about adding another piece of information to CNIE, but it aims to provide emergency workers at hospitals with vital information that could help save lives in critical situations. The measure addresses growing blood needs across the country, especially for rare blood types. Beyond the practical benefits, supporters of this initiative believe that displaying blood type information on a document used by millions of citizens will raise awareness about blood donation. The proposal calls for printing blood type information on both sides of the CNIE alongside standard biometric data. If approved, the change would take effect immediately after publication in the Official Bulletin. Read also: Morocco Struggles with Blood Supply, Needs 1,000 Daily Donations This initiative is part of a broader modernization of national identity documents. Previous proposals have suggested adding the Amazigh language or family status information to simplify administrative procedures. By including blood type data, CNIE would become more than just identification — they would become tools for emergency response and symbols of national solidarity through blood donation. Morocco's national IDs digitization Morocco's General Directorate of National Security (DGSN) has launched a nationwide campaign to digitize Moroccans' national identity cards. The initiative aims to revolutionize how citizens can use their CNIEs across the country, as they can use their CNIEs to prove their identity in different places, especially to agents of authorized institutions by the DGSN. Tags: blood typesElectronic IDs MoroccoMorocco
Morocco World
08-05-2025
- Business
- Morocco World
Morocco Launches Derivatives Market with MASI 20 Futures Contract
Doha – Morocco's Casablanca Stock Exchange (CSE) has officially begun derivatives trading. The Moroccan Capital Market Authority (AMMC) approved the first futures contract based on the MASI 20 index this week. The MASI 20 futures contract went live on Thursday. It tracks the 20 most liquid companies among the 40 largest market caps on the Casablanca Exchange. Investors can now buy or sell the index at quarterly expirations in March, June, September, and December with cash settlement. 'It's the flexibility that the derivatives market allows you, which is going to add to the main market, bring more liquidity, and essentially bring more flows,' CSE Chief Executive Tarik Senhaji told Reuters. Each index point equals 10 MAD with a 1,000 MAD initial margin requirement. Trading happens continuously. The contract follows international standards, catering to both professional and institutional investors. The move comes during a growth period for Moroccan markets. Average daily trading volume jumped by nearly 70% to $37.5 million in 2024. Total market capitalization grew about 20% from December 2023 to the end of 2024, reaching $77.6 billion. More recent data shows continued expansion. Market capitalization rose from $64.6 billion in late 2023 to $95.5 billion as of March, according to Bloomberg. This is just the start of a broader plan. 'We want to move into derivatives for interest rates in a big way, because that will connect the government bond market… with the stock market…and create some really interesting cross asset plays,' Senhaji said. The CSE plans to add more products soon. These include interest rate futures, single-stock futures, and equity options. Listed Real Estate Investment Trusts (REITs) are also on the horizon. Morocco's equities have gained 36% this year. This far exceeds the frontier market average return of 7%. These results, along with ongoing capital market reforms since 2021, have sparked talk of Morocco possibly returning to MSCI's emerging-market status after a 12-year absence. Read also: Morocco to Help Mauritania Create Nouakchott Stock Exchange 'That's going to add a lot more liquidity, a lot more dynamism,' Senhaji said in a London interview with Bloomberg. Local companies can now raise funding 'quicker, more easily, to have access to a broader investor base at a time where Morocco has a lot of ambitions.' In an important development this February, financial institutions with public participation received authorization to join Morocco's Clearing House. This step, formalized in the Official Bulletin of February 20, 2025, represents another key building block in the infrastructure for the derivatives market. The timing aligns with Morocco's preparations to co-host the 2030 FIFA World Cup with Spain and Portugal. The benchmark stock index has risen about 13% since that announcement in October 2023. Despite worldwide market turmoil, characterized by rising US tariffs and heightened geopolitical tensions, Senhaji noted that Morocco is well-positioned within the global market. 'We have a good relationship with everyone, whether it's on the social front or the economic front, and we view ourselves as well as one of the links into international commerce and international trading,' Senhaji asserted. The bourse saw only one new listing in 2024. Currently, retail investors make up less than 1% of the stock market. Foreigners account for roughly 30% of CSE investors. 'There is a lot of potential there,' Senhaji said about increasing local participation. Information about this new financial instrument is available on both the Casablanca Stock Exchange and AMMC websites. Tags: Casablanca stock exchange
Morocco World
25-04-2025
- Business
- Morocco World
French Diplomas Now Automatically Recognized in Morocco
Doha – Morocco's Ministry of Higher Education has announced that diplomas from French public universities will now receive automatic recognition in Morocco, ending a bureaucratic process that often delayed graduates' entry into the job market. According to an announcement published in the Official Bulletin No. 7392 of February 10, degrees at the bachelor's, master's, and doctoral levels from French public universities will be automatically equivalent to their Moroccan counterparts, provided they are validated by competent French authorities. 'It was time to end administrative complications that unjustifiably harmed our graduates from foreign universities,' said Azzedine El Midaoui, Minister of Higher Education, Research and Innovation. 'This decision represents a step toward a more fair and efficient public administration that better understands the transformations in international academic pathways.' The new measure eliminates what was previously a complex administrative procedure requiring document submission, review by specialized committees, and publication of decisions in the Official Bulletin – a process that could take at least six months and sometimes stretch to three years. The automatic recognition applies to degrees in various fields, including legal, economic, social and management sciences, as well as exact sciences and humanities. French diplomas represent more than 60% of equivalence requests processed annually by the ministry. In 2024, the ministry received nearly 4,000 requests for university degree equivalence across different higher education fields, with approximately 3,700 cases examined by sectoral committees. The previous equivalence process was not only time-consuming but also costly. Candidates had to provide numerous certified documents, including diplomas, transcripts, school certificates, and sworn translations into Arabic or French. Each translated page could cost more than MAD 250 ($25), creating a significant financial burden. This reform comes as Moroccan students continue to represent the largest foreign student community in France. According to Campus France's 2024 report, 45,162 Moroccan students were enrolled in French institutions during the 2022-2023 academic year, accounting for 11% of the international student population. This marked a 13% increase between 2017 and 2022. Moroccan students also dominate French engineering schools with 6,110 students in 2022-2023, a 26% increase over five years, and have a strong presence in business schools, representing 14% of international students in these institutions. The ministry had already made efforts to modernize the system by launching a digital platform in November 2023 to manage foreign diploma equivalence applications. This platform enables continuous interaction with users, faster response times, and allows applicants to submit equivalence requests and track their status online without visiting ministry offices. Ministry sources suggest that similar decisions may be made for diplomas from other countries as part of a comprehensive review of equivalence mechanisms, aimed at improving services for Moroccan graduates from foreign higher education institutions. Tags: French diplomasministry of higher educationMorocco
