AGP Executive Report

Morocco’s Digital Economy & Media: Streaming is reshaping Morocco’s media habits fast, with 92% internet penetration and social platforms pulling in tens of millions of active users, but monetization still struggles against free-content culture and piracy. Public Finance: Morocco’s national savings rate climbed to 31.4% of GDP in Q1 2026, helped by stronger income growth and a jump in net income from abroad. Transport & Connectivity Funding: The EIB approved €365m for Morocco’s road and rail resilience, including €300m for highways and €65m for ONCF rail upgrades plus climate-resilience support. Energy & Industry: Nearly 10 firms are active in Morocco’s oil and gas exploration under 40 offshore permits and 9 onshore, while the ministry signals ONHYM reforms to unlock more from the current framework. Mobility Services: Uber is expanding again in Morocco, adding Agadir and Tangier after restarting in late 2025, with a city-by-city rollout focused on reliability for residents and tourists. Fuel Prices: Morocco cut fuel prices again—diesel down 97 centimes and petrol down 46 centimes per liter—after a prior mid-June reduction. Industrial Investment: BENTELER opened a smart automotive components plant in Kenitra (over $42m, 300+ jobs), strengthening local supply chains for major OEMs. Trade & Diplomacy: Morocco and Bangladesh discussed joint ventures in textiles, pharma and maritime, plus skills recruitment. Business & Sports Crossovers: Bayern Munich signed Morocco forward Ismael Saibari from PSV, and Morocco’s World Cup momentum continues to boost visibility and commercial interest.

Aviation & Tourism: WestJet is adding capacity on Houston flights after Canada’s historic World Cup run, with bigger aircraft on Calgary–Houston routes for the Canada vs Morocco Round of 16 on 4 July—demand is pushing up fares. Mobility & Tech: BlaBlaCar says it will expand carpooling into 20 new countries using AI, with Morocco included as it begins a North Africa push. Finance & Infrastructure: The EIB is set to back Morocco’s rail and motorway upgrades with €350m, while another EIB push targets €700m financing in Morocco during 2026. Energy & Industry: Morocco is expanding its AI-cloud ecosystem with a second Oracle R&D center, and robotics is getting a spotlight in Marrakech as a lever for Africa’s energy transformation. Governance & Rights: ERA launches 20-country environmental rights case studies across Africa, assessing how communities access information, participate in decisions, and seek justice. World Cup & Business: Morocco’s World Cup momentum is also driving travel and local spending as fans plan match trips and watch parties.

US–Morocco Fertilizer Relief: President Trump temporarily suspended countervailing duties on Moroccan phosphate fertilizer for eight months, citing a fertilizer supply emergency and aiming to cut input costs for American farmers. Ag Policy Impact: The move follows studies linking the 2021 duties to sharply higher fertilizer prices and billions in added costs, with growers welcoming the relief. Energy Security Push (Morocco): Morocco is investing 6bn dirhams to expand fuel storage capacity to strengthen supply resilience despite lacking domestic refining. EIB Financing: The European Investment Bank plans to channel over €700m into Morocco in 2026, focusing on infrastructure, private-sector support, and education. Digital & AI Expansion: Oracle opened a second Morocco R&D center in Agadir to deepen AI/cloud work and tap local talent. Auto Sector Finance: Attijariwafa Bank and AMICA signed a strategic partnership to back Morocco’s automotive ecosystem with financing, guarantees, and services. Responsible Governance Ranking: Morocco placed 41st in a global “Responsible Nations” index, leading MENA in the assessment. Football Soft Power: Morocco’s World Cup run into the knockout stage is again boosting its international visibility beyond sport.

Fertilizer Trade Shock: The White House declared a U.S. food-supply emergency and suspended anti-dumping/countervailing duties on selected Moroccan phosphate fertilizer imports for up to eight months, citing global supply disruptions—another sign Morocco’s OCP-linked supply chain remains strategically important. Legal & Rule-of-Law Tension: Hundreds of Moroccan lawyers rallied in Rabat against a proposed overhaul of the legal profession, warning it could weaken bar independence, defence guarantees, and fair-trial protections. Ports Modernization Push: Japan’s JICA is set to assess how Morocco’s ports can become more efficient, greener and more digital, with a study running Sept 2026–Feb 2027 focused on Tanger Med and Casablanca. Defense Cooperation: Morocco and Kenya agreed to deepen air force ties via joint training and professional exchanges after Nairobi talks. World Cup Business Angle: Morocco’s Atlas Lions beat the Netherlands on penalties to reach the Round of 16, keeping the country in the spotlight as football drives travel and local spending.

Morocco Economy Watch: Morocco’s High Commission for Planning says GDP growth held at 4.6% in Q1 2026, with non-agricultural activity slowing to 2.6% while agriculture surged (+18.4%), and domestic demand driving the expansion as inflation stays contained (1.1%). Public Finance: The Treasury and External Finance Department carried out a MAD 900m one-day surplus placement via repurchase agreement at a 1.75% weighted average rate. Household Demand: A separate HCP note points to 6.5% domestic demand growth in Q1, led by a rebound in household consumption (+4.6%). Trade & Logistics: Moroccan and Chinese customs signed deals to speed up cross-border procedures, including mutual recognition of Authorized Economic Operator status and cooperation between Casablanca and Ningbo ports. Industry & Investment: OCP Nutricrops renewed its phosphate fertilizer supply agreement with Bangladesh for 2026-2027, targeting up to 1.3m tonnes. Film & Tourism Economy: Morocco broke ground on an International Cinema City in Ouarzazate, aiming to build a full production-to-post-production hub and boost filming-related tourism. Energy & Renewables: Morocco’s ACWA Maroc won approval to expand its Khalladi wind farm near Tangier by 40 MW to 160 MW. Sports Business Link: Morocco’s Round of 32 World Cup clash vs the Netherlands is framed as a major national spotlight moment, with Opta giving Morocco a 1.6% title chance and a 38.8% shot at reaching the last 16.

Moroccan Banking & Diaspora Finance: Bank Al-Maghrib governor Abdellatif Jouahri says Morocco’s banking sector is modernising via digitalisation and stronger intermediation for Moroccans abroad, while a new EU directive on banks in Europe is being handled through direct talks with EU member states and a dedicated working group. World Cup Business & Talent Spotlight: CAF president Patrice Motsepe hails a historic African run at the 2026 World Cup, with nine teams reaching the knockout stage, including Morocco—fueling new attention on African football’s growing competitiveness. Morocco in the Knockout Mix: The Round of 32 is set for major matchups, with Netherlands vs Morocco flagged as a high-stakes clash after both teams topped their groups’ paths. Regional Trade & Logistics: Morocco’s free-trade zones are credited with helping a Renault and Stellantis supplier thrive, underscoring how industrial policy can translate into export-ready growth. Cross-Border Crime Watch: Nigeria’s NDLEA reports major drug seizures and arrests tied to international routes, including a businesswoman allegedly smuggling cocaine to China and large cannabis consignments linked to transit via Morocco.

World Cup Knockout Shock (Morocco angle): South Africa’s historic run ended as Canada beat Bafana Bafana 1-0 in stoppage time, setting up a Round of 16 clash against either Morocco or the Netherlands. Morocco Football Logistics: Royal Air Maroc launched 12 nonstop Casablanca–Monterrey flights to move Moroccan supporters for the Atlas Lions’ Round of 32 match vs the Netherlands. Morocco in Global Diplomacy: Morocco’s UN envoy Omar Hilale used the 80th anniversary of the UN Charter to stress Africa’s unfinished freedom and the need to use the Charter’s tools for peace, development and financing. Morocco Governance & Youth Politics: New survey coverage ahead of Morocco’s elections points to low trust in parliament and parties among young Moroccans, with engagement shifting toward social media and protests. Security & Compliance: Morocco’s Financial Crime Unit tightened control over suspicious currency flows, while separate coverage highlights broader regional enforcement actions against drug trafficking. Regional Business & Tourism: A report on Africa’s tourism boom notes rising visitor numbers and revenue, but also flags how foreign booking platforms shape who benefits.

World Cup Knockouts Set (Morocco in the Round of 32): The 48-team group stage is over and the bracket is locked, with Netherlands vs Morocco scheduled for June 29 in Monterrey—an early test for the Atlas Lions as knockouts begin. Morocco Spotlight Beyond Football: Morocco also pushed an “Integrity Doctrine” at the UN, arguing corruption is now a human-rights threat, not just an economic or legal issue. Financial Crime Focus: Separate coverage says Morocco’s Financial Crime Unit is tightening control over suspicious currency flows. Scotland Coaching Shock (Context for Morocco Fans): Steve Clarke resigned after Scotland’s World Cup exit, underscoring how quickly tournament fortunes can flip. Morocco Time Policy: Morocco will end GMT+1 and return to GMT after summer 2026, reopening the wider debate on clock changes. Talent Watch: Ismael Saibari remains in the spotlight as Morocco’s next export story, with major-club interest continuing to build.

Central Banking Watch: Bank Al-Maghrib is expected to keep its policy rate at 2.25% through end-2026, with analysts pointing to energy-cost risks that could lift imported inflation, while core inflation and a strong agricultural season should help contain price pressure. Financial Crime & Compliance: Morocco’s financial crime unit (BNLCEF) has opened an investigation into businessmen and foreign exchange office operators suspected of channeling large, unclear funds into the economy, with suspects asked to prove the legal origin of transfers. Tax Enforcement: Morocco’s field tax audits generated MAD 10.67bn in 2025; on-site scrutiny rose, with legal entities driving most audits and urgent audits taking a bigger share. Trade & Security: A U.S. mission delegation made its first publicly announced visit to El Guerguerat to discuss border security, counter-narcotics, human trafficking and interagency coordination—highlighting the crossing’s role as a key West Africa trade corridor. EU Finance Link: EIB President Nadia Calviño is set to visit Morocco June 29–July 1, with talks on EU-backed financing aimed at transport network resilience and climate adaptation. AI & Digital Sovereignty: At an AU meeting in Tangier, African ministers pushed for more African-owned AI infrastructure, citing low data-center capacity and dependence on foreign cloud providers as major bottlenecks.

Public Health & Consumer Safety: Morocco’s handicrafts authorities warned potters to stop using tar on food and drink pottery after lab tests found high levels of toxic metals, including arsenic and cobalt, and said it will expand programmes to meet health and safety requirements for domestic and export markets. Nuclear Governance: Morocco was unanimously elected as Commissioner of the African Commission on Nuclear Energy (AFCONE) for a three-year term at the African Union headquarters in Addis Ababa, reinforcing its push for peaceful nuclear applications in areas like healthcare and agriculture. Business & Finance: Morocco’s central bank kept its key interest rate unchanged at 2.25%, with expectations of easing inflation and growth around 5.2% in 2026. Trade & Logistics: Casablanca port operations improved, cutting container waiting times to about 48 hours through round-the-clock work. Tourism & Payments: Mastercard launched “Priceless Africa” on Priceless.com, adding curated travel experiences across Morocco and other African markets for cardholders. Sports & Talent (Morocco-linked): Aberdeen is close to agreeing a six-figure deal for Moroccan striker Ayoub Mouloua from FUS Rabat, pending work permit and registration steps.

Morocco-EU Finance: Bank Al-Maghrib governor Abdellatif Jouahri says Morocco is stepping up talks with EU countries (France first, then the Netherlands, Belgium, Spain and Italy) to protect how Moroccan banks operate in Europe and to keep diaspora remittances flowing as new EU oversight rules bite from Jan. 1, 2026. Port & Trade Logistics: Casablanca’s container congestion is easing fast after 24-hour operations and gate changes cut container waiting times to about 48–72 hours. Anti-Corruption & Justice: A Casablanca court sentenced 29 people in the “Escobar of the Sahara” drug trafficking and corruption case, including figures tied to politics and sport, with terms up to 12 years and major fines. Digital Sovereignty: At UN Open Source Week, ministers including Morocco pushed open-source and open standards as the route to national control over critical digital systems. Agri-Trade Inputs: Fertiliser shipments through the Strait of Hormuz are picking up post-interim Iran deal, with Morocco among destinations. Business & Entrepreneurship: A Remitly Business study finds self-employment ambition is high in Morocco (90.7%), though many still hesitate due to financial insecurity. World Cup Business Angle: Morocco’s Ismael Saibari is in transfer buzz (linked to Bayern) as Morocco advances in the tournament, while FIFA’s hydration-break format keeps sparking debate.

Energy Reform: Morocco has converted ONHYM into a joint-stock company, giving the state energy agency more flexibility as it backs the Africa-Atlantic Gas Pipeline, with the state keeping full ownership for now. Time Policy: Morocco’s Prime Minister has announced a permanent return to Greenwich Mean Time, ending GMT+1; the switch back will take effect at the end of next summer 2026. Digital Inclusion: A GSMA report says Africa’s digital divide is shifting from coverage to adoption: only 9% of Africans remain outside mobile broadband coverage, but many still don’t use mobile internet. Logistics & Trade: Flash by Redspher is expanding its premium freight-forwarding model in South Korea, targeting time-critical demand from semiconductors and EV battery supply chains. Capital Markets: London-listed lithium developer Savannah Resources is pursuing a secondary listing in Lisbon or Australia to broaden investor reach as battery-material interest grows. World Cup Business Angle: FIFA’s Round of 32 schedule is set to kick off June 28, with Morocco set to face the Netherlands in the knockout draw.

World Cup Midpoint, Morocco in the Knockouts: With 54 of 104 matches played, FIFA says the tournament is past its halfway mark and the Round of 32 is taking shape. In Group C, Brazil beat Scotland 3-0 and Morocco advanced after a 4-2 comeback vs Haiti, setting up a knockout push for the Atlas Lions. Player Spotlight: Brazil coach Carlo Ancelotti called Vinícius Júnior “one of the best players in the world” after his brace helped secure Brazil’s last-32 spot. Urban Renewal & 2030 Pressure: Morocco’s World Cup momentum is already reshaping cities: Casablanca’s Avenue Royale redevelopment is clearing parts of the old medina, raising concerns about heritage and displacement. Finance & Regulation: Morocco’s capital market regulator (AMMC) widened the price band for newly listed shares to ±20% in early trading, aiming to improve price formation. Fintech Watch: Bank Al-Maghrib signaled Revolut’s Morocco entry is premature, citing priority regulatory work. Green Transition Funding: The EBRD is scaling up investment in Morocco to speed the green transition and support private-sector growth. Business & Trade: Morocco’s trade with Africa hit $9.5bn in 2025, while Morocco’s UK mandarin exports surged, overtaking Spain in the market. Industry Expansion: Safran Electronics & Defense broke ground on a 350m dirham Nouaceur expansion, targeting 500 new jobs. Time Policy: Morocco will return to standard GMT after summer, ending years of daylight-saving time debate.

Regional Security & Justice: The League of Arab States and UNODC held a third steering meeting in Cairo to push coordinated action against drugs, transnational organized crime, terrorism, corruption and financial crimes, with Morocco among participating states. Water & Infrastructure: Morocco’s drought-hit south is accelerating a desalination-led emergency plan, with King Mohammed VI chairing sessions to speed structural water supply projects under the drinking water and irrigation programme. Payments & Travel: Mastercard rolled out “Priceless Africa,” adding Morocco and eight other markets to its curated lifestyle travel platform, with booking and cardholder travel perks. Governance & Decentralisation: Nigeria’s AbdulRahman AbdulRazaq was elected FORAF president in Tangier, aiming to strengthen decentralised cooperation across African regions. World Cup Business Angle: Brazil’s Vinicius Jr. powered a 3-0 win over Scotland to reach the knockout stage, while Morocco’s Atlas Lions also advanced from Group C after beating Haiti 4-2—keeping Morocco’s tournament momentum in the spotlight.

World Cup Broadcast & Morocco Fixtures: Morocco’s Group C campaign continues with Morocco vs Haiti on Wednesday, June 24 at 6 p.m. ET in Atlanta (FS1/Telemundo; DIRECTV or Fubo free trials). King’s Diplomacy & Local Governance: King Mohammed VI backed decentralized international cooperation via the African support fund for local authorities at UCLG in Tangier, and also congratulated Colombia’s president-elect Abelardo de la Espriella. Cross-border Enforcement: Morocco extradited Michael Steven, CEO of Indonesia’s Kresna Life, to Jakarta over alleged capital market crimes and money laundering tied to insurance premiums. Finance Watch: Morocco’s Foreign Exchange Office opened probes into suspected undeclared luxury spending by Moroccans abroad, using European oversight data to trace cash flows. Aerospace & Industry: Airbus will raise Spain’s C295 output to 13 aircraft per year, with the first delivery for Madrid in a maritime search-and-rescue configuration. Business & Growth Signals: Morocco’s drone industry is expanding with local production, and reports say nearly 35,000 businesses registered in Morocco in four months.

Monetary Policy & Inflation: Bank Al-Maghrib kept its key interest rate unchanged at 2.25%, while projecting 2026 inflation around 1.5% and growth near 5.2%, alongside a broader outlook for sector performance. Agriculture & Food Security: Morocco’s cereal harvest is estimated at 90 million quintals, with the central bank expecting agricultural value added to rebound (+16% in 2026) after drought-hit years, though import pressure remains. Prices & Cost of Living: Morocco’s CPI fell 0.9% in May (food -2.1%, fuel -3.6%), helped by targeted measures to freeze gas cylinder prices and hold electricity tariffs amid external shocks. Business Climate & Investment: A Morocco-Spain business forum in Valencia highlighted Morocco’s reforms and connectivity as a draw for foreign investors, with companies exploring cross-Mediterranean industrial and logistics ties. Green Energy Cooperation: Djibouti is looking to partner with Morocco on solar power with storage to cut reliance on imported electricity and strengthen energy independence. Regional Finance & Trade: Morocco’s push to attract business and conference tourists (aiming for 2.3 million by 2030) underlines the country’s services-led growth push. World Cup Economy (Local angle): Morocco’s Group C campaign continues to shape tourism and consumer activity around matchdays, while the broader tournament keeps spotlighting Morocco’s brand abroad.