Morocco heads list for African investment

Morocco heads list for African investment

Morocco heads list for African investment

Morocco tops a new list as the most attractive economy for investments flowing into the African continent. The latest Africa Investment Index 2018 (AII) by Quantum Global’s research arm, Quantum Global Research Lab, reports that Morocco ranks first on the index – based on its increasingly solid economic growth, strategic geographic positioning, increased foreign direct investment, external debt levels, social…

Moroccan insurers taking next step towards risk-based solvency

Moroccan insurers taking next step towards risk-based solvency

Moroccan insurers taking next step towards risk-based solvency

Moroccan insurers are likely to gradually reduce their equity exposure and hold more government bonds in their investment portfolios when the country’s new risk-based solvency regime comes into effect. In a new report, Fitch Ratings states: “The new regime should be credit positive for insurers as we expect it will require better analysis and management of risk and stronger capitalisation…

Good service pays dividends as GIC Re South Africa continues growth trajectory

Good service pays dividends as GIC Re South Africa continues growth trajectory

Good service pays dividends as GIC Re South Africa continues growth trajectory

Good service, expertise and capacity have proved a winning formula for GIC Re South Africa, which has seen another year of growth despite challenging times in the South African insurance sector. Deepak Prasad, managing director and CEO of GIC Re South Africa, said: “Internationally, it has been very different from one market to another this year because of the global…

Challenging times for MENA market insurers

Challenging times for MENA market insurers

Challenging times for MENA market insurers

The political, financial and economic risks for (re)insurers operating in the Middle East and North Africa (MENA) region remain elevated because of continuing geopolitical tensions, according to a report from AM Best. The situation is exacerbated by the disagreement between Qatar and a number of other Middle East countries (which severed their diplomatic ties in June 2017), the war in…

Tunisian banking sector poses real risk

Tunisian banking sector poses real risk

Tunisian banking sector poses real risk

S&P Global Ratings regards Tunisia’s banking sector as a weakness for its economy and a significant source of contingent liabilities for the government, according to a new report. The study – Ambitious Reform Is Key To The Revival Of The Tunisian Banking Sector – found that difficult operating conditions for banks, their past use by the government in developing strategic…

Parametric insurance proposed for Morocco to protect against drought

Parametric insurance proposed for Morocco to protect against drought

Parametric insurance proposed for Morocco to protect against drought

The Moroccan government is a step nearer a parametric insurance solution to protect against drought – one of the largest risks facing Moroccan farmers. Following an international call for tenders, French consultant Finactu has been selected to support the Ministry of Agriculture, Maritime Fisheries, Rural Development and Water & Forests in setting up and monitoring parametric insurance against the consequences…

Maritime safety gets boost in Morocco

Maritime safety gets boost in Morocco

Maritime safety gets boost in Morocco

Seven African maritime search and rescue (SAR) trainers have taken part in a first course held in Morocco by the International Maritime Rescue Federation (IMRF) and Inmarsat. The Global Maritime Distress Safety System (GMDSS) course included five participants from Morocco, one from Senegal and one from Nigeria. They are all GMDSS trainers in Africa and will return to their respective…

Mercer opens new hub in Casablanca

Mercer opens new hub in Casablanca

Mercer opens new hub in Casablanca

Mercer, a consultant in health, wealth and career, is expanding its francophone Africa footprint. It has plans to strengthen service to the francophone region of Africa, through its new Casablanca Financial City hub in Morocco. Mercer, a wholly owned subsidiary of Marsh & McLennan, will bolster its health business and further penetrate the African market with wealth and career solutions.…

Fitch affirms both Cameroon and Tunisia, but political risks remain

Fitch affirms both Cameroon and Tunisia, but political risks remain

Fitch affirms both Cameroon and Tunisia, but political risks remain

Fitch Ratings has affirmed Cameroon’s long-term foreign-currency issuer default rating (IDR) at B with a stable outlook and has affirmed Tunisia’s IDRs at B+, also with a stable outlook. In both countries, political risks still loom large, said Fitch. In Cameroon, uncertainty surrounding succession to the 84-year-old President Paul Biya is a political risk. Presidential elections are set to take place…

Court calls halt to action on Libyan bribery claims

Court calls halt to action on Libyan bribery claims

Court calls halt to action on Libyan bribery claims

This time last year, the UK High Court rejected a claim by the Libyan Investment Authority (LIA) that dealings between it and Goldman Sachs (GSI) crossed the line from an ordinary arm’s length bank-customer relationship to a relationship that gave rise to duties of candour and fairness. It held that, in the absence of any such protected relationship: 1) GSI…

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