Saturday 30 October 2010
RABAT: Morocco has decided to suspend the operations of the Qatar-based Al-Jazeera television news channel in Rabat and withdrawn the accreditations of its staff, the commmunications ministry announced yesterday. The ministry said |the sanctions followed "numerous failures in (following) the rules of serious and responsible journalism".
Web Stores Show 3.99% Fall In Canon PowerShot S95
Web stores show fall in concrete transaction figures for the Canon PowerShot S95 for October 30th 2010
Internet shops in Finland had the poorest day with figures down 8.45%. Spain, Greece, Morocco and Australia also had rather frail figures. Fifty-seven online stores reported an upturn of more than sixteen with the most robust at 16.16%, 16.48%, 16.64% and 16.96%.
Crucial rises and downturns for 30th October 2010
Sixty-six web vendors reported a fall greater than nineteen with the poorest at 19.19%, 19.38%, 19.57% and 19.76%. Online vendors in Slovenia had the most robust day with trade up 7.84%. Poland, India, The United Kingdom and Jordan also had pretty admirable trade figures.
The somewhat ordinary Jordanian and Finnish sales and the fairly bad Spanish and Greek transactions were evidently relevant but the fifteen online retailers with a frail standard mainstream average -9.88% were the dominant cause of the overall contraction in sales of 3.99%
Morocco - € 11 Billion in Transport Infrastructure Investments
Morocco (Marrakech) - Transport and Equipment Minister Karim Ghellab said that Morocco has earmarked 11 billion euros for transport infrastructure over the period 2008-2012.
Ghellab, who was speaking during a meeting on "The risks of under-investment in infrastructure," held in Marrakech as part of the World Economic Forum on the Middle East and North Africa (MENA) region (26-28 October), recalled that "in ten years, Morocco has quadrupled its investments in transport infrastructure", stressing that an integrated development requires efficient infrastructure.
"Morocco is capitalizing on the infrastructure", he said, noting that improving infrastructure is likely to contribute to both economic and human development.
Regarding the policy of the government to attract more Foreign Direct Investment (FDI), the Minister noted that the Kingdom has adopted well-defined sectoral strategies, citing as an example the “Plan Emergence”, in addition to the launch of several infrastructure projects (Tangier-Med port complex, motorway network etc...).
Morocco, like the transition countries, has adopted several programs to curb the social deficits and fight poverty, Ghellab said, citing projects aiming at opening up rural areas and supplying drinking water.
The World Economic Forum on MENA, which brings together prominent economists and analysts from all over the world, is meant to tackle the most appropriate growth and development strategy for the region in a context marked by the economic downturn, oil volatile prices, water shortage and immigration.
Held under the high patronage of HM King Mohammed VI, the meeting will be also a platform to understand, collectively, the post-crisis reality.
The Forum will address the issue of the sovereign wealth funds and their growing orientation towards a regional commitment to crucial sectors such as renewable energy, health and social systems, infrastructure development and technological breakthroughs.
The event will touch on three themes namely "regional responses to global risks", "encouraging a sustainable growth" and "North Africa: New regions of commercial partnership”.
Schwab's '2010 Social Entrepreneur of the Year' prize awarded to Morocco's M'hammed Abbad Andaloussi
Marrakech - The 2010 Social Entrepreneur of the Year in the MENA region prize, awarded by "Schwab" Foundation for social entrepreneurship, was given, on Tuesday in Marrakech, to Morocco's M'hammed Abbad Andaloussi, president of the "Al-Jisr" association.
Through this prestigious award the Foundation will support the "Al-Jisr" association, which aims at mobilizing businesses and involving them in improving performance of public schools.
A similar prize was awarded to Tunisian Essma Ben Hamida, co-founder of "Enda Inter-Arabe", a microfinance institution.
Created in 1998 by Klaus Schwab, founder of the World Economic Forum (Davos), "Schwab" Foundation is meant to support and sustain initiatives in social entrepreneurship by providing its members with a network of businesses, politicians, media, civil society and academic institutions.
Farfus tops morning practice
BMW Team RBM’s Augusto Farfus posted the quickest time in morning practice for the World Touring Car Championship races at the Okayama International Circuit
After switching to a six-speed sequential gearbox - as his team-mate Andy Priaulx had done the day before – Farfus’s time of a minute 38.085 seconds was set halfway through the 30-minute session, which was ended early due to red flags.
Amid changing track conditions as the circuit dried out following earlier rain, Robert Dahlgren was first to set the pace with his eventual fastest time of 1:38.605 in a Volvo C30. That was good enough to place him second quickest overall by the end.
Alain Menu was third in the timesheets, recording 1:38.612 in his Chevrolet Cruze.
Rob Huff, quickest the day before, was fourth with 1:38.759 ahead of the fastest SEAT driver rookie, Norbert Michelisz (1:38.761), and Yvan Muller (1:38.816).
Andy Priaulx (1:38.861), Tiago Monteiro (1:38.869), Colin Turkington (1:38.918) and Tom Coronel (1:38.937) rounded out the top 10 with Kristian Poulsen (1:38.981) the fastest ‘Independent’ in 12th.
Morocco’s Mehdi Bennani did not complete a lap, pulling off the circuit on his out-lap before being towed back to the pits with a rear axle problem. His Wiechers-Sport team-mate, Masataka Yanagida, was the cause of the late red flag with a possible engine problem that the team is still investigating: it caused his BMW 320si to spill oil across the circuit.
With most the field failing to improve their times in the second half of the session, the only action was from Fredy Barth who ran wide through the gravel at the final corner but kept his SEAT moving to rejoin.
MOROCCO LAUNCHES TWO-YEAR ANTI-CORRUPTION DRIVE
Morocco unveiled a two-year plan on Friday aimed at fighting corruption, saying graft destroys 2 percent of gross domestic product and saps its "cultural values".
Among 43 new measures are asset declarations for top state officials, government protection of anti-graft whistle-blowers, anti-graft classes in schools and channels for the public to report graft and extortion by government officials.
The government agrees with opposition critics that graft squeezes foreign investment and distorts the free market, which Morocco badly needs to spur growth and tackle poverty.
"With this plan to prevent corruption and fight it, we enter a new stage of determination to achieve results in implementing this programme," Public Sector Modernisation Minister Mohamed Saad El Alami told a news conference.
"It is difficult to gauge corruption's cost as it is secret, but estimates put the loss to Morocco's economy from this scourge at about 2 percent of the GDP," said Alami. "Corruption saps our cultural and social values. It undermines the foundations and roots of our society." Alami said the plan will start in earnest in early 2011 and last into the following year.
Morocco was ranked 89th out of 180 countries last year on an index of corruption compiled by anti-graft watchdog Transparency International. The watchdog reacted with scepticism to Friday's announcement.
"They did not ask for ideas and views from business and civic groups. We have heard this talk before," said Rachid Meknassi, head of Transparency International's local chapter.
The European Union, Morocco's main trading partner, has praised Morocco's reforms to improve infrastructure, develop renewable energy production and boost agriculture, tourism and manufacturing in the past 10 years. But it says deep-rooted corruption throttles foreign investment interest.
British Ambassador: Morocco is making great efforts in economic development
Morocco (Rabat) - The British Ambassador in Rabat, Timothy Morris, has said his country is impressed by Morocco's efforts in the area of economic development, expressing the UK's willingness to benefit from the investment opportunities the Kingdom of Morocco has to offer.
"Morocco is making great efforts in the area of economic development, and we are very impressed by these efforts," Morris said in an interview with MAP on Saturday.
The diplomat added that the two countries have "historical, very strong and very close political relations, but the major challenge remains to promote economic ties at the level of trade and investments."
The two countries' Foreign Ministries have a very good dialogue which enables to address several international issues of shared interest, especially the Mideast peace process, development in Africa, security and human rights in the world, said Morris, who noted that the two governments tackle other areas of cooperation, particularly the economic aspect.
The Moroccan government and private sector seek to enhance bilateral trade, he said, commending Morocco’s actions to present the British economic operators with the reality of the national economy.
In this regard, he recalled the first meeting held, last June in London, on trade between Morocco and the United Kingdom, praising the efforts made by Morocco’s ambassador to the UK, Chrifa Lalla Joumala Alaoui, to promote the bilateral economic cooperation.
He also hailed the Moroccan-British business council to present the Britons with the key sectors of the Moroccan economy and propose “practical ideas” to enhance the bilateral economic cooperation.
The diplomat insisted that the British companies take interest in many sectors in Morocco, including renewable energies and education, notably higher education through cooperation between the two countries’ universities.
He recalled, in this respect, that the British group International Power won a contract to set up one of the greatest wind farms in the southern city of Tarfaya.
The English operators may also be interested in investing in car industry and aeronautics, two sectors that “open up good avenues for Morocco,” he said, pointing out that the British market is open to the Moroccan products, especially the agricultural ones.”
In the field of tourism, the diplomat called for some impediments to investments in this field to be overcome, particularly the issue of real estate.
He expressed his country’s willingness to support Morocco to carry out the mega-project of the Casablanca financial hub.
On the advanced status granted by the European Union to Morocco, Morris said “as a member of the European Union, we are aware that this advanced status will make it possible to bring the two sides closer to each other.”
The view from Morocco, MENA's western frontier
If vibrant colors, sights and sounds were rated as indicators to attract business and foreign direct investment, Marrakech and Morocco in general would win that competition hands down. Entering the giant market square Jemaa El Fna a half hour before sunset takes one to a bygone era. Traders, craftsmen and the odd purveyor of black magic potions are all too willing to do a deal.
Thirty minutes outside the central square, we all gathered for the World Economic Forum regional meeting on the Middle East. The distance from the Gulf - a full nine hours from Dubai before a transfer from Casablanca - served as a deterrent for many. In fact, not one political leader decided to make the journey to a place where caravans would spend weeks crossing the Sahara to sell their goods. Even the King of the host country, Mohammed VI decided to leave this global event to others, which many attending saw as a sizable mistake.
While Morocco is not new ground for European tourists - especially the French, English and Italians - it is less familiar to businessmen of the Gulf and broader Middle East and North Africa. In discussions with all the King’s men at WEF, you get a sense what the 48-year-old monarch is out to get done. One advisor to the Prime Minister approached me after my panel on “Building a Middle Class for the Middle East” to share a tea and talk through in detail some of the projects on the planning board and, more impressively, some already up and running.
This western frontier of the Middle East and North Africa territory (MENA) is forging new ground in logistics, solar technology, chip manufacturing and desalination. While the 2008 economic crisis has quashed the political ambitions of French President Nicolas Sarkozy’s Euro Med designs, don’t tell that to the Moroccans who see the policy architecture as a means to build their future fortunes upon.
One of the more eye-catching efforts is the giant Tangier-Med Project, which plans to be the largest port facility in Africa. Renault-Nissan was an early mover and has invested nearly $1 billion to produce 200,000 vehicles a year.
The young King, who took the reins of power back in 1999, and is trying to accelerate the pace of change in a country where mules pulling carts of vegetables fight for space with scores of mopeds and small cars. His track record is a solid one. According to Nizar Baraka, his respected Minister for Economic and Social Affairs, the government is working from top to bottom - even with elementary school children he noted - to change the mindset of the average Moroccan. Big Brother - the government - will help set the vision, define what the country can offer to the world and even train you to work in one of its new, high-tech, private-sector ventures, but don’t expect it to provide you a job. Only 10 percent, according to Minister Baraka, work in the public administration, but by Middle East standards, that is more than impressive - it is nearly unheard of.
For the past five years, Morocco has averaged five percent growth. Unemployment has dropped two percentage points down to eight percent; but youth unemployment remains stubbornly high at double that rate. In the ranks of per capita income, Morocco does not score as well. At $4,500 it comes in 116th place according to the IMF.
But the regional businessmen I spoke with take these factors as a net positive. High inflation has not reached this far west just yet. There is an ample supply of young workers to educate and train and no one argues that it is a hop, skip and a jump into the vast European market.
While its geographical location will pay dividends in the future; it is being hampered by a sluggish recovery. Europe’s general slowdown during the crisis - and collapse on the Mediterranean perimeter has cut growth according to the government by one to two percentage points in the past few years.
That scenario will hopefully improve and the King and his cabinet need to turn their attention to improving relations with their neighbours, especially Algeria - despite overarching agreements, border challenges, non-tariff barriers and old rivalries that are keeping this vibrant, colorful and unique destination a little too far off the region’s business radar.
Boy Killed By Spanish Police in Occupied City, in Northern Morocco
A 16-year-old Muslim teenager from Melilla was killed, on Thursday evening by a rubber bullet fired at close range by the Spanish Civil Guard, in clashes between demonstrators and the police in the "La Canada de Hidume" neighborhood in the occupied city of Melilla, media reported on Friday.
The young Younès died of his wounds, the same sources said, adding that the victim's body was taken by law enforcement officers to an unknown destination.
For three days, large demonstrations of young people, who are complaining of discrimination in employment, raged the occupied city of Melilla.
The same sources added that the various security services in Spain were surprised by the scale of these demonstrations.
“Neither the Civil Guard nor any other service in the Iberian Peninsula anticipated this outburst of violence between the young people of Melilla, who are mostly of Moroccan origin, and the police, causing injuries from both sides and material damage,” the media quoted some observers as saying.
The Spanish government delegation to Melilla has endeavored to give the riots an image of a simple claim of employment, while the youths are demanding recognition of their rights as natives of Melilla.
These youths consider themselves victims of injustice in their own city, accusing the authorities of granting advantages, to their detriment, to Spaniards from Malaga or Almeria, spain.
Morocco Foreign Investment May Rise to $3.5 Billion
Morocco expects foreign direct investment to increase by as much as 40 percent in 2011 as the global economy recovers from its worst recession since World War II, a government minister said.
The North African country may attract up to $3.5 billion next year, compared with an estimated $2.5 billion in 2010, Economy and Finance Minister Salaheddine Mezouar told reporters today at the World Economic Forum in Marrakesh. The investments will probably be in “energy, financial services and telecommunications,” he said.
Morocco’s economy is expected to expand 4 percent in 2010, according to the central bank. The government is forecasting economic growth of 5 percent next year, increasing by half a percentage point annually through 2013, Mezouar said in a Sept. 30 interview.
France Telecom SA said in September that it has agreed to buy 40 percent of Medi Telecom SA, Morocco’s second-largest mobile-phone operator, for 640 million euros ($886.5 million) as part of its plan to expand in emerging markets.
Renault SA, France’s second-biggest carmaker, is building a car factory in the Moroccan city Tangiers and production will start in 2012, Chief Executive Officer Carlos Ghosn said today in Marrakesh. The 1 billion-euro ($1.4 billion) plant will have an annual capacity of 400,000 vehicles, with 10 percent to 20 percent to be sold in Morocco and surrounding countries.
Bond Sale
Morocco sold 1 billion euros of 10-year bonds in October as part of a plan to reduce reliance on local borrowing.
Asked whether the government may tap international markets again, Mezouar said in an interview with Bloomberg Television: “We are open to the market, open to the opportunities the market will bring us.”
The government expects next year’s budget deficit to be 3.5 percent of gross domestic product, the minister said, without giving a comparative figure for 2010.
The kingdom’s reliance on exports to Europe makes it vulnerable to any economic slowdown there.
“We can’t say that the crisis is over because as you know we are very linked to the European Union,” Nizar Baraka, minister delegate to the prime minister in charge of general and economic affairs, said in an interview with Bloomberg Television today. “Sixty-five percent of our exports” go to the European Union, he said.
Funding development - Kuwait invests $1 billion in Morocco
Morocco (Rabat) - The Kuwaiti investments in Morocco reached about 8 billion dirhams ($1 billion) in various sectors, Morocco's Economy and Finance Minister Salaheddine Mezouar said on Thursday.
These investments significantly increased with a tendency for more sectoral diversification, Mezouar told the press following the signing ceremony of four agreements to reinforce the Moroccan-Kuwaiti cooperation, under the chairmanship of HM King Mohammed VI and HH the Amir of Kuwait Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah.
The Moroccan official added that Kuwait is one of the Kingdom's main partners in terms of funding development projects in Morocco (ports, highways, electricity, high speed rail, dams…).
The Moroccan-Kuwaiti agreements signed on Thursday reflect the deep and sound bilateral relations, he said, underlining that the two countries are willing to further boost trade exchanges which do not live up to their expectations.
The contribution of the Kuwait Fund for Arab Economic Development to development projects in Morocco increased to 1.2 billion dollars, said on Thursday in Rabat the Fund's managing director, Abdelwahab Ahmed Al-Badr.
The Fund has signed 36 agreements as part of the Moroccan-Kuwaiti cooperation, he told the press after the signing ceremony of four agreements on bilateral cooperation under the chairmanship of HM King Mohammed VI and the Amir of Kuwait HH Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.
Abdelwahab Ahmed Al-Badr added that the Kuwait Fund will, under these agreements, finance a development project on the transmission of electricity worth 20 million Kuwaiti dinars, as well as a high-speed train project, with a contribution of 40 million Kuwaiti dinars.
Cooperation between the Kuwait Fund for Arab Economic Development and Morocco's electricity utility, known by its French acronym ONE, stood at 1.011 billion dirhams ($125 mln) under the form of four loans.
These loans contributed, since 1975, to the funding and building of the central thermal of Kenitra, the Al Wahda central hydroelectric power plant, the hydraulic complex of Dchar El Oued-Aït Messaoud, and the implementation of the fourth phase of the comprehensive rural electrification programme, the ONE said in a statement.
The two parties signed another agreement worth 660 million dirhams, on Thursday in Rabat, during the official visit of HH the Amir of Kwait, Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah.
The agreement aims to reinfoirce the network of electricity transmission in the southern provinces.
Economic Commission for Africa: Morocco adopts green economy approach
Morocco's commitment to a "green economy" would open up new prospects particularly in terms of sustainable growth, employment and skills development, said a report released Wednesday on the sidelines of the 7th African Development Forum (ADF VII), held in Addis Ababa.
This new example of green growth that responds to the climate emergency is also an opportunity to come out of the current economic crisis, the same source added, noting that the green economy is an economic system that internalizes the costs of ecosystem degradation forming the basis of economic and social development.
“In Morocco, the development of ecotourism is already perceived as a real opportunity to improve the growth of a key sector of the economy thanks to the integration of renewable energy and energy efficiency,” the ECA noted, indicating that Morocco’s new project “Green City” is “a great initiative.”
The Commission also hailed the political, institutional and financial reforms undertaken in recent years by the kingdom to promote the development of renewable energy and energy efficiency.
Football-CAF Cup: FUS of Morocco beats Al-Ittihad of Libya
Fath Union Sport (FUS) of Morocco on Friday beat Al-Itti had of Libya 2-1 at 11 June Stadium of Tripoli in the first leg of the semi-finals for the Confederation Cup.
Hammouda Ben Chrifa scored a goal in each for FUS before Al-Ittihad pulled one back deep inside injury time through Younes Chinbani.
Morocco seeks 175,000 T milling wheat on local mkt
RABAT (Reuters) - Morocco's state grain agency ONICL is seeking 175,000 tonnes of soft wheat from its domestic market aimed at supplying mills to make subsidised flour, it said on Friday.
The tender will take place on November 3 at 1000 GMT, ONICL said in a statement.
Morocco, the world's tenth-biggest wheat importer, favours its local production before turning to foreign markets to make up for domestic crop shortfall.
It saw its harvest this year slashed by bad weather to 7.46 million tonnes from a record 10.2 million tonnes last year.
In September, ONICL approved the import of 1.2 million tonnes of soft milling wheat over the period September 16 to December31.
Gulf offers great opportunity for tapping into MENA potential, says Bahrain Economic Development Board chief
BAHRAIN. There are great opportunities to invest in the Gulf and tap into the growth of the Middle East and North Africa (MENA) region, Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the Bahrain Economic Development Board (EDB), told CNBC on Wednesday.
In an interview from the World Economic Forum (WEF) on the Middle East and North Africa in Marrakech, Morocco, Shaikh Mohammed told the global broadcaster that the demographics of the region represent significant potential for international companies. He was joined on air by Rasheed Al Maraj, Governor of the Central Bank of Bahrain (CBB).
“We are a growing region,” explained Shaikh Mohammed. “Today we are approximately a trillion dollars in GDP and the EIU forecasts this will grow to two trillion dollars. So today we are roughly the size of India. People talk about China and India; our goal is to say ‘don’t forget about the Gulf.’ And within the Gulf, Bahrain offers the best value proposition. We have the rule of law, the strength of regulation, and one of the freest economies in the Gulf for business.”
Bahrain is ranked the 13th freest economy in the world and the most free in MENA in the latest Index of Economic Freedom, published each year by the Heritage Foundation and Wall Street Journal. It is one of many international indices to reflect a commitment in Bahrain to creating the optimum business environment in line with the Kingdom’s Vision 2030, designed to drive the private sector as an engine of growth and support further diversification of the economy. Bahrain is now two years into the process, which the EDB is leading under the guidance of His Royal Highness Prince Salman Bin Hamad Al Khalifa, the Crown Prince of Bahrain and Chairman of the EDB.
Rasheed Al Maraj added that Bahrain has made tremendous efforts in order to improve the regulatory framework of the country. The CBB itself is the only single regulator in the Middle East and widely considered the best and most progressive in the region. “There have been serious efforts in bringing reform – both economic and political,” he said. “As far as banking regulation, we have modelled our framework into the international regulatory framework.”
Asked if the solid foundation for investment in the region – though better cushioned than many other places – was reliant on oil revenue and price stability, Shaikh Mohammed said: “In Bahrain today we have the most diversified economy in the Gulf; only one percent of employment is dependent on the oil sector and oil is only 13 percent of our GDP. So we are in a very strong position. The other Gulf countries are doing the same, investing in downstream industries. We want to be part of this globalised economy… and this is what we are all trying to do in the Gulf.”
Shaikh Mohammed and Rasheed Al Maraj are part of a Bahrain delegation at WEF on MENA and among the foremost leaders from business, government and civil society gathered at the event which run from 26-28 October.
The Bahrain Economic Development Board (EDB) is a public agency with an overall responsibility for formulating and overseeing the economic development strategy of Bahrain, and for creating the right climate to attract direct investment into the Kingdom.
The Bahrain EDB is also responsible for attracting inward investment into Bahrain, and is focusing on six target economic sectors in which the Kingdom offers significant strengths. These are financial services, downstream industries, tourism, business services, logistics, and education and training.
Middle East Global Forum Shows Path to Prosperity
The logic behind this 'vision for the future' -- presented by a leading U.S. manager, David M. Rubenstein, and echoed by participants from 62 countries in the World Economic Forum (WEF) on the MENA region – is that it is blessed with shared twin endowments: its people and its natural resources.
However, if these two endowments are not invested wisely over the coming years they may turn into liabilities, the participants cautioned at the two-day Forum that ended on October 28.
For the vision to become a reality, "better integration, education and infrastructure" are imperatives. Without these, MENA will not reach its full potential. In fact, if the region works together cooperatively, it can become "a real emerging market leader in the 21st century", a large number of the WEF-MENA participants agreed with Rubenstein, Co-founder and managing director of the U.S. Carlyle Group.
"With 360 million people, there is a great opportunity for regional integration," noted Shyam Sunder Bhartia, chairman and managing director of India's Jubilant Bhartia Group. The MENA region is ideally situated to position itself as a bridge between dynamic Asian markets and large economies in Africa and Europe. The Gulf Cooperation Council (GCC) provides a useful model which should be extended, he said
"The Arab world has made much progress," observed Lubna S. Olayan, deputy chairperson and CEO of Saudi Arabia's Olayan Financing Company, and Chair of the Arab Business Council, “but further action is required to close the gender gap and reduce youth unemployment." He considers this essential to building a thriving middle class, which is considered to be the core of any prosperous, resilient society. "Failure to provide the growing ranks of low- and middle-income citizens with a sense of mobility and aspiration could lead to social instability," Olayan argued.
Most importantly, improving the quality of education is critical to acquiring the skill sets necessary for the 21st century. Specific initiatives include the launch of public-private partnerships in four countries to connect centers of excellence in the region. Another idea is to create a network of high schools around the Mediterranean.
Anass Alami, director-general of Morocco's Caisse de Dépôt et de Gestion (CDG), stressed that the government played a rather critical role "to make long-term investments and policy reforms to encourage the private sector to come in".
For example, to attract private investment to green sources of growth, Morocco is pursuing a bold energy mix target of 40 percent renewable sources such as solar and wind power. He urged governments in the MENA region to take the lead on shared challenges of water and food security.
Stressing that the region faces shared, interconnected risks and opportunities, Brian Duperreault, president and CEO of U.S. Marsh & McLennan Companies (MMC), outlined the three most relevant risks: water scarcity, energy security and underinvestment in infrastructure. "These key risks are highly interconnected and act as limits to sustainable growth," he pointed out.
Sustainability means responding to risks while taking advantage of the concomitant opportunities, noted Salaheddine Mezouar, Economy and Finance Minister of Morocco. "In recognition of the risks and opportunities related to energy security, Morocco has set an ambitious energy mix target of 60 percent fossil fuels and 40 percent renewable sources such as solar and wind power."
However, individual country actions are not enough. "Without a stable, integrated MENA bloc it will become ever more difficult to compete with large countries such as India and economic alliances like the European Union," Mezouar said.
The challenge is to overcome internal resistance within individual countries; mindsets need to be opened up before the region can open borders, he stressed.
Lars H. Thunell, executive vice-pesident and CEO of International Finance Corporation (IFC), emphasized the need for inclusiveness and pointed to a number of hurdles to integration. "Poor regulation, governance and transparency are all holding the region back," he warned.
"It's better to shape regional integration proactively rather than waiting for it to happen reactively," said Khalid Abdulla-Janahi, honorary chairman of United Arab Emirates' Vision 3 and the MENA Regional Agenda Council. The public, private and NGO sectors are all guilty of shifting the blame to others, when they should be increasing collaboration to deal with common challenges, he added.
In another panel, government and business leaders pointed out that the MENA region needs to overcome its infrastructure deficit if it is to boost its competitiveness and attract much-needed foreign investment.
Shamshad Akhtar, World Bank vice-president for the MENA region said that infrastructure deficits persist, despite many improvements in the last decade. "The region's infrastructure needs are between US$ 75 and 100 billion a year for the next five years, after experiencing an investment low of US$ 6 billion in mid-2009."
"To attract the massive foreign capital it needs, the MENA region needs to boost its competitiveness by enhancing regional infrastructure," said Carlos Ghosn, chairman and CEO of Renault-Nissan Alliance (France and Japan). "Good infrastructure is a necessary -- though not sufficient -- condition for investors to come in."
Governments in the region are heeding the call to action, according to Karim Ghellab, Minister of Equipment and Transport of Morocco. "In the case of Morocco, we have multiplied investment in transport infrastructure by a factor of four in the last decade -- spending 11 billion euros between 2008 and 2012." Infrastructure is not just laying concrete, he added, high performance infrastructure requires world-class operations.
Abdul Malek Al Jaber, board member of Astra Holding of Jordan, agreed and included the ICT sector, which represents 14 percent of the country's Gross Domestic Product. "We need to find the right balance between hard infrastructure and human capital so as to best use the infrastructure we have," he said, making an analogy to needing good hardware as well as good software.
José W. Fernandez, US Assistant Secretary of State for Economic, Energy and Business Affairs, emphasized the need for the public and private sectors to work together. "Government has a central, galvanizing role in developing infrastructure; while the amount of capital required means the private sector is essential." The main thing that governments can do is to remove barriers to trade and free movement of goods and people, thus boosting intra-regional trade and integration, he noted.
"It should not be forgotten that there has been huge progress in improving infrastructure in the past decade, said UAE's Abdulla-Janahi. Nevertheless, there is much more that needs to be done -- especially in terms of cross-border projects that enhance transnational integration, he pointed out.
Andrea Canino, president of France's Conseil de Coopération Economique, agreed: "Rather than focus on the challenges and the failures, we need to showcase flagship projects which have been successful."
Leaders from the Arab world went a step further and set a number of policy priorities for building a future middle class. "I see no reason to distinguish between gender in terms of employment and promotion, gender diversity will strengthen the economy," said Sheikh Ahmed Bin Mohammed Al Khalifa, finance minister of Bahrain. Saudi Arabia's Olayan echoed the minister, saying: "There should be incentives to hire more women in the Arab workforce."
dp-news
Friday 29 October 2010
A history of drama in Africa’s club final
It was in 1997 that the current format of the CAF Champions League was introduced, a radical change for the competition from decades of straight two-legged knockout rounds. The advent of television coverage, a single sponsor for the tournament and a dividend for the participating teams was a giant leap for African football into the modern age.
More than a decade on, the competition remains the top prize for African clubs. Nonetheless, it is a gruelling affair, comprised of three preliminary knockout rounds, then a group phase of six matches, a two-legged semi-final and a two-legged final before the identity of the continent’s top club for the year is revealed.
Over the years, the pendulum of dominance has swung back and forward between the clubs from the Arabic-speaking countries of north Africa and their challengers from west and central Africa. In the last decade, there have been breakthroughs for Nigeria, who waited an interminable amount of time before they could claim a club as African champion, a run of dominance by Egypt’s Al Ahly and the revival of the legendary TP Mazembe Englebert, who are again in this year’s final. FIFA.com looks back over 13 years of the CAF Champions League and the finals that have decided the winner of the coveted title.
1997: Halilhodzic proves a good addition
Both Raja Casablanca of Morocco and Ghana’s Goldfields squeezed through to the final. Raja won their group by a single goal and Goldfields by a single point. The first leg of the final was played in Obuasi, and on a dusty surface, Lawrence Adjei managed the only goal after 78 minutes, an aggregate lead that Goldfields held right through 70 minutes of the return match in Casablanca before Abdelkrim Nazir equalised. The match went straight to penalties and Raja, who had appointed Franco-Bosnian coach Vahid Halilhodzic to take charge of their side only months before, triumphed 5-4 in the subsequent penalty shoot-out.
1998: ASEC brings glory to Côte d'Ivoire
ASEC Abidjan had come close several times before in their quest for continental glory, notably just three years earlier when they looked to have the title sewn up only to falter at home to Orlando Pirates. This time they were able to dominate the final against Dynamos of Zimbabwe, drawing away 0-0 in Harare and waltzing to a 4-0 advantage at home before the hour mark with two goals from Vassanogo Kamara and one each from Donald-Olivier Sie and John Zaki. But Dynamos kept fighting and pulled two back to make for a pulsating final ten minutes.
1999: Fullone and Raja make it two
ASEC’s coach Luis Oscar Fullone moved to Raja straight after his success with the Ivorian club and became the first coach to win a major African title back-to-back with two different teams. Raja again needed penalties to take the title after a bruising two-legged affair with Esperance of Tunisia that produced no goals. Raja were rock solid in defence in the second leg away, especially after captain Abdellatif Jrindrou was sent off after just 11 minutes.
2000: Hearts of Oak grow large
Arguably one of the strangest incidents in African football came in Accra in the final’s second leg as Ghana’s Hearts of Oak took on Esperance, having secured a shock 2-1 lead from the first leg in Tunis. Hassen Gabsi’s goal inside the opening 20 minutes suddenly revived the hopes of ‘Blood and Gold’ but as they pushed forward in the final ten minutes, Hearts struck three times to win 5-2 on aggregate. The game was stopped in the closing stages as Esperance goalkeeper Chokri El Ouaer was caught playacting over a bleeding face in an effort to get the match cancelled. El Ouaer was later given a stiff suspension by the Confederation of African Football.
2001: Ahly too bright for Sundowns
South Africa’s Mamelodi Sundowns made it to their first final against an Al Ahly team beginning a revival in their fortunes under Portuguese coach Manuel Jose. A 1-1 draw in Pretoria set the scene for a tight return in Cairo, but it proved a match with one-sided dominance and a one-sided score. Surprisingly, Sundowns had most of the ball, but Ahly stung them three times on the counter attack and Khaled Bebo’s hat trick ensured a 4-1 aggregate victory.
2002: Raja denied a hat-trick
This was the year CAF introduced a semi-final round after the conclusion of the group phase, but there was a familiar look about the final as Raja took on Zamalek of Egypt. Raja were seeking to win the title for a third time in just six years, but they could only muster a scoreless draw at home. Tamer Abdel Hamid got the decisive strike of the tie just before half-time of the second leg for Zamalek to win by a lone goal.
2003: Nigeria finally break their duck
Nigeria, in just under 40 years of participation, had never before produced a winner in Africa’s top club competition. However, Enyimba always looked a likely breakthrough from the group phase. Goals from Emeka Nwanna and Ndidi Anumnu gave them a 2-0 home win in the first leg of the final against Ismaily. A teenage Hosni Abd Rabou gave the Egyptian club, whose only previous triumph had come in 1969, hopes of clawing back by converting a penalty in the 27th minute, but there were no further goals.
2004: Aiyegnuba the hero for Enyimba
Enyimba became the only side since TP Mazembe Englebert (in 1967 and 1968) to retain their title despite having sold off several of their key players after the previous year’s success. Proficiency in penalties proved key for the Nigerians as they beat Esperance in a shootout in the semi-final and then another Tunisian club, Etoile Sahel, in the final after a 3-3 aggregate draw. They took off goalkeeper Vincent Enyeama in the last minute of the second leg in Abuja and replaced him with Dele Aiyenugba in a masterstroke by coach Okey Emordi. Aiyegnuba saved from Saber Ben Frej in the shoot-out to become an instant hero as Enyimba won 5-3 on penalties.
2005: Al Ahly start their run
With Manuel Jose back at the helm for a second stint at Al Ahly, they proved all-conquering in the competition, exemplified by their 3-0 aggregate win over Etoile Sahel in the final. For a second successive year, the Tunisians hosted the first leg of the final but were held to a goalless draw. Ahly dominated the return in Cairo in front of their delirious fans with goals from Mohamed Aboutrika, Osama Hosni and a last minute effort from star player Mohamed Barakat.
2006: A thrilling finish from Aboutrika
A riveting tie of high drama had the most extraordinary finish. Al Ahly were looking to retain their title but after former Enyimba star Joetex Frimpong got an all-important away goal for CS Sfaxien, the Egyptians went to Tunisia for the return game of the final precariously placed at 1-1. It was a tactical game, tight and uncompromising and looked headed for a goalless draw that would have given Sfaxien a shock triumph. That is, until Aboutrika popped up in stoppage time to drive home from the edge of the penalty area and crush home hearts.
2007: Etoile slow the party
Al Ahly were seeking a record-breaking third title on the trot and few would have bet against them after they drew 0-0 away in Sousse in the first leg of the final against Etoile Sahel. The return in Cairo was set for a massive celebration of their dominance of the club game on the continent, but they conceded just before half-time when Afoiuene Gharbi crashed home a brilliant long-range effort and suddenly had to contemplate the unthinkable. Defender Emad Al Nahhas equalised soon after half-time, but with Ahly pushing for a second goal to avoid defeat on the away goals rule, Amine Chermiti and Moussa Narry scored for Etoile. Their celebrations could be heard reverberating around an eerily silent, and stunned, stadium as they won 3-1 on the night and on aggregate.
2008: Ahly hold on for sixth star
Four finals in a row was a new feat to add to Al Ahly’s record books, and they topped it by winning a record sixth title, taking them above arch-rivals Zamalek on the competition’s roll of honour. However, their job was difficult against Coton Sport of Cameroon. Although they held a 2-0 lead going into the second leg in Garoua, and were first to score in the second leg, the Egyptians almost fell victim of one of the biggest turnarounds in the history of African football. Coton Sport threatened at times to engulf their opponents in a flood of goals but conjured up some horrible misses. They finally breached the Al Ahly goal on the stroke of half-time when Karim Abdoul scored and went 2-1 up in the 61st minute through Ousmaila Baba. But a last-minute penalty ensured a 2-2 draw and a 4-2 win overall for the history-making Ahly.
2009: The return of the crows
TP Mazembe Englebert’s victory was the first time the CAF Champions League final had been settled on the away goals rule. Known as The Crows, the club from Lubumbashi in the Democratic Republic of Congo were back at the top of the pile in African club football 41 years on from the last of their two previous titles. After losing 2-1 away in Owerri a week previously, a Victor Ezuruike own-goal in the second leg handed them victory as they edged out Heartland FC of Nigeria.
This year, Mazembe will try to defend their title against Esperance. The first leg of the final is on Sunday in Lubumbashi.
List of the winners of the African Champions League:
1965 – Oryx Douala (Cameroon)
1966 – Stade Abidjan (Côte d’Ivoire)
1967 – TP Mazembe Englebert (Congo-Kinshasa)
1968 – TP Mazembe Englebert (Congo-Kinshasa)
1969 – Ismaily (Egypt)
1970 – Asante Kotoko (Ghana)
1971 – Canon Yaounde (Cameroon)
1972 – Hafia Conakry (Guinea)
1973 – Vita Club (Zaire)
1974 – CARA Brazzaville (Congo)
1975 – Hafia Conakry (Guinea)
1976 – Mouloudia Alger (Algeria)
1977 – Hafia Conakry (Guinea)
1978 – Canon Yaounde (Cameroon)
1979 – Union Douala (Cameroon)
1980 – Canon Yaounde (Cameroon)
1981 – JE Tizi Ouzou (Algeria)
1982 – Al Ahly (Egypt)
1983 – Asante Kotoko (Ghana)
1984 – Zamalek (Egypt)
1985 – Royal Armed Forces Rabat (Morocco)
1986 – Zamalek (Egypt)
1987 – Al Ahly (Egypt)
1988 – Entente Setif (Algeria)
1989 – Raja Casablanca (Morocco)
1990 – JS Kabylie (Algeria)
1991 – Club Africain (Tunisia)
1992 – Wydad Casablanca (Morocco)
1993 – Zamalek (Egypt)
1994 – Esperance (Tunisia)
1995 – Orlando Pirates (South Africa)
1996 – Zamalek (Egypt)
1997 – Raja Casablanca (Morocco)
1998 – ASEC Abidjan (Côte d’Ivoire)
1999 – Raja Casablanca (Morocco)
2000 – Hearts of Oak (Ghana)
2001 – Al Ahly (Egypt)
2002 – Zamalek (Egypt)
2003 – Enyimba (Nigeria)
2004 – Enyimba (Nigeria)
2005 – Al Ahly (Egypt)
2006 – Al Ahly (Egypt)
2007 – Etoile Sahel (Tunisia)
2008 – Al Ahly (Egypt)
2009 – TP Mazembe Englebert (DR Congo)
The tournament was known as the African Champions Cup until 1997.
Rally de Maroc: Despres' happy return
The Morocco Rally finished with a Red Bull 1-2-3 with France’s Cyril Despres finishing ahead of Portugal’s Helder Rodrigues and Marc Coma of Spain third. Despres had returned from six months away from the sport following the birth of his daughter to win the Morocco Rally. While his team-mate Marc Coma completed a remarkable comeback of his own.
Stage One
"A beautiful warm-up," says Despres as he takes the lead on his new KTM 450 with Coma, just two weeks after winning the Pharaohs Rally, finishing second on an identical machine with Holland’s Franz Verhoeven third. “You couldn’t hope for a much better start,” adds Despres.
Stage Two
Day two saw another 1-2 for KTM but with Coma leading home Despres. But organisers had introduced some special navigational challenges where riders had to ride within 400m of certain points. The judges decided to issue Coma with a 30-minute penalty after he missed a checkpoint to hand Depres a convincing lead and put the Spaniard down to fourth overall. Helder Rodrigues, meanwhile, was third to move second overall and Fretigne retired with a broken collarbone.
Stage Three
Coma hit back hard, claiming a second stage victory. Finishing a tactical sixth, Cyril Despres (Red Bull KTM) maintained the overall lead, 13’00 ahead of Rodrigues. “Not a day for riding flat out. It rained all night long and was still raining this morning when I took the start, making visibility very poor. Then 100 metres into the special my compass heading repeater packed up, complicating navigation even further. Up until the halfway point Rodrigues and I took it in turns to open the piste, but then we started to get into some huge puddles, and aware that Marc (Coma) had received a half hour penalty the night before for missing a waypoint, I decided that it was time to back off a little and manage my overall lead.”
Stage Four
Coma on top again to close the gap on Rodrigues and Despres, who made a navigational error of his own at the beginning of the second loop to cost himself valuable time. The penalty pushed the reigning Dakar champion back to sixth on the day and reduced his lead over Rodrigues to 4m 20s, leaving it delicately poised for the penultimate day.
Stage Five
A better day for Despres, who increases his lead of Rodrigues to almost 10 minutes and nearly 15 ahead of Coma. He’s back in the seat for the last day. "I wasn't too happy with myself for letting my guard drop yesterday and so started this morning determined to make amends. I left the line in sixth place, but behind five riders who were attacking hard. At about 40km, I came across Olivier Pain who was having trouble with his bike, so that was one rider whose dust I didn't have to worry about.
“Then at the refuelling point I saw that I had taken back about 1 minute 30 seconds and that allowed me to back off a little. By the end of the special I had managed to pull back a small but significant amount of time on Rodrigues and Coma.”
Stage Six
No mistake for Despres as he wraps up the final honours, with the new KTM 450, the machine that he’ll take to the Dakar, coming through the event without suffering a single mechanical issue. Coma remained philosophical over taking third place, but optimistic about his chances in the Dakar next January.
"After the penalty on Tuesday’s stage, I knew this rally was lost. But I’ve given my all over these few days. We should be happy with the feelings we have had on the new KTM 450. It’s an easy and manageable bike, which makes me feel optimistic about the forthcoming Dakar.”
“I am really happy to be part of such a prestigious podium and this proves we are heading in a good way for Dakar,” Rodrigues said. “I have to take my hat off to the organisers of this Rally as it was superb and full of variety.”
Thursday 28 October 2010
Zenagui Says Morocco Tourism Revenue Growth to More Than Double
Oct. 28 (Bloomberg) -- Moroccan Tourism Minister Yassir Zenagui said growth in tourism revenue, a major contributor to the North African state’s economy, is expected to more than double this year.
Almost 10 million tourists may visit, with revenue growth accelerating to 14 percent from 6 percent last year, Zenagui said in an interview recorded yesterday in Marrakesh by Bloomberg Television. Revenue should reach 56 billion dirhams ($6.9 billion) this year, according to the Tourism Ministry.
The global economic crisis “at its peak slowed down a little the growth, but the sector and the economy is back and more tourists are coming to the country,” Zenagui said. “It proves that is a resilient and robust sector.”
Tourism in Morocco represents almost 10 percent of gross domestic product. Morocco’s economy is expected to expand 4 percent in 2010, according to the central bank. The government is forecasting economic growth of 5 percent next year.
Attijariwafa Bank of Morocco Plans to Open New Branches in West Africa
Attijariwafa Bank, the largest publicly traded lender in Morocco, is planning to open more branches in West Africa, Co-Chief Executive Officer Ismail Douiri said.
“We want to expand around the markets we already have in West Africa,” Douiri said yesterday in an interview at the World Economic Forum in Marrakesh.
Attijariwafa operates in 22 countries and has branches in countries including Congo, Gabon, Guinea Bissau, Mali, and Senegal, according to its website. Douiri said the company plans to open a branch in Burkina Faso before the end of the year.
Profit at the bank rose 17 percent in the first half of the year, the bank announced on Sept. 28. Net income advanced to 2.3 billion Moroccan dirhams ($276.2 million).
The bank received approval two years ago in Mauritania to set up a commercial banking division in conjunction with Banque Centrale Populaire. Earlier this year, they acquired 60 percent of the Mauritanian branch of French bank BNP Paribas.
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