AGP Executive Report

Spain–Morocco Ties: Spain’s Congress approved a bill creating a special Spanish citizenship route for Sahrawis born in Western Sahara during Spanish administration, with Morocco warning it could inflame the political debate even if it doesn’t change the territory’s status. Morocco Elections & Governance: Ahead of the Sept. 23, 2026 vote, analysis argues parties often select “notables” who can convert networks and local influence into votes, while youth trust in institutions remains low—pushing calls for clearer nominations and stronger campaign-finance checks. PAM Economic Pitch: PAM’s Fouzi Lekjaa unveiled a 350bn dirham (2026–2031) economic and social program focused on purchasing power, pensions, and income-tax review, aiming to avoid tax hikes. PJD Campaign Attack: Abdelilah Benkirane launched a broad critique of the ruling coalition, accusing it of “predation” over public resources and prioritizing personal interests. Digital Startups Funding: Morocco moved forward with a Startup Catalytic Fund framework expected to mobilize nearly MAD 2.5bn for digital venture capital via Tamwilcom. Rail & Trade Infrastructure: ONCF put five Chinese CRRC Ziyang diesel locomotives into service, supporting rail modernization for the 2030 World Cup; separately, Nador West Med’s West Med Container Terminal cleared live trials for commercial calls. Food & Supply Chains: Morocco’s corn imports from Argentina jumped 133% in early 2026 as heat and disruptions shift grain flows. Marine Risk: A pilchard herpesvirus outbreak is expected to hit prices, fishing livelihoods, and marine life—raising broader food-economy concerns.

Morocco–Spain Diplomacy: Morocco rejected renewed Spanish political/media accusations, stressing the April 7, 2022 Joint Declaration and calling for mutual respect, dialogue, and cooperation on trade, security and migration. Trade & Food Security: Morocco’s corn imports from Argentina jumped 133% in the first seven months of 2026 to about 1.55m tons as Ukraine disruptions and European heat pushed North African buyers to alternative suppliers. Logistics & Ports: Nador West Med’s West Med Container Terminal cleared live trials ahead of commercial operations, adding Mediterranean transshipment capacity beyond Tanger Med. Rail Security Modernisation: ONCF launched a tender to design a nationwide surveillance strategy for the rail network through 2030, with plans for thousands of cameras and AI-enabled monitoring. Business & Startups: Charikaty, a Moroccan LegalTech firm, expanded its platform beyond company incorporation after closing a pre-seed round at a €3m valuation. Regional Context: FIFA Infantino’s re-election prospects remain in focus after Denmark’s FA chief said FIFA evaded questions on a commercial-stakes proposal. Migration Flashpoint (Ceuta): A fire destroyed 40+ tents in a Ceuta migrant settlement, underscoring ongoing humanitarian and security pressures tied to the Morocco–Spain border crisis.

Startup Funding & Digital Services: Charikaty, a Moroccan LegalTech startup, raised a pre-seed round valuing it at €3m to expand from company incorporation into a full business lifecycle ecosystem, with Gulf investors among the backers. Trade & Exports: The U.S. recorded a $2.83bn goods trade surplus with Morocco in the first seven months of 2026, as exports rose to $4.07bn and imports to $1.24bn. Industrial Expansion: Givaudan opened a new fragrance development hub in Casablanca to serve Maghreb, West Africa and South Asia, aiming to speed up innovation across multiple product lines. Rail Security Modernization: ONCF launched a tender to design a nationwide rail surveillance strategy through 2030, combining video monitoring and AI, with plans for thousands of cameras. Logistics & Market Access: Morocco is adding new maritime corridors for European-bound exports, with WEC Lines preparing an enhanced container service linking Nador to Setúbal and onward to Northern Europe. World Cup Governance: FIFA said no decision has been made on the 2030 final venue after Morocco’s federation president said it would be in Benslimane. Human Rights Data: Morocco’s National Human Rights Council is building a national indicators system with the High Commission for Planning to measure rights gaps and policy inequalities. Travel & Business Climate: A report highlights Morocco as a top destination for travelers seeking shoulder-season comfort, with demand rising as heat and crowds push tourists toward fall trips.

Morocco–Spain Migration Row: Rabat says there are “no facts” linking Moroccan authorities to the July mass crossing into Ceuta, rejecting being used as a “scapegoat” in Spanish electoral politics after Spain declassified warnings and police claims. Diplomatic Messaging: Morocco also issued a broader warning to Madrid about “strategic blindness” and recurring tensions, stressing the 2022 partnership pillars: good neighbourliness, economic ties, and security cooperation. World Cup 2030: FRMF chief Fouzi Lekjaa insists the 2030 final will be at the Hassan II Grand Stade in Benslimane, as Morocco and Spain continue their venue battle. Football Governance Pressure: France has withdrawn support for FIFA president Gianni Infantino’s re-election bid, adding to European federations’ pushback over FIFA governance. Cybersecurity: A hacker group, Jabaroot, claims a 70,000-name leak tied to Morocco’s police and intelligence; Morocco denies the breach. Legal Sector: Moroccan lawyers extend a nationwide strike over changes to the profession law, disrupting court operations. Business & Travel: Morocco is among the African countries eligible for Canada’s eTA (with conditions), and Liberia reiterates support for Morocco’s Sahara sovereignty at the UN. Banking Watch: Sanlam plans a phased launch of transactional banking in South Africa starting 1 Nov 2026.

Digital Tax & Platforms: Morocco’s new VAT-on-digital-services mechanism is now showing up in real transactions as TikTok, Apple, Google, OpenAI and Spotify start charging and remitting the 20% VAT for eligible services sold to Moroccan customers. VAT & Business Regulation: The shift matters for foreign tech providers and local consumers alike, since it changes how tax authorities recover VAT without a local presence. Morocco-Spain Migration Row: Morocco’s Foreign Ministry rejected claims linking Rabat to the July Ceuta surge, saying there are “no facts” proving involvement and warning against using the country as a pre-election scapegoat. Housing & Industrial Policy: Morocco’s Government Council approved changes to housing aid procedures and decrees updating industrial acceleration zones, alongside a decree implementing chemical weapons destruction rules. Corporate Expansion: Givaudan opened a new fragrance development hub in Casablanca to expand local R&D and regional sales support. Cybersecurity: A report on Android banking malware highlights how fraudsters clone banking apps using hidden Android work profiles—relevant for Morocco’s financial sector as digital payments grow. Diplomacy Watch: Algeria cut diplomatic ties with the UAE and closed its airspace to UAE-registered aircraft, underscoring regional instability that can spill into trade and logistics. Sports Governance: FIFA denied any promise to Morocco over the 2030 World Cup final at Hassan II Stadium, keeping the venue dispute alive.

Morocco–Belgium Cooperation: AMCI and Belgium’s Enabel signed an MoU in Brussels to expand triangular cooperation in Africa, focusing on entrepreneurship, innovation and inclusion; employability; and corridors/logistics. Anti-Corruption Ties: Morocco’s INPPLC inked a cooperation framework with Hong Kong’s ICAC to exchange know-how, build capacity and launch joint anti-corruption initiatives. Extreme Heat Response: Morocco is rolling out a new strategy to fight extreme heat, including urban works that target overheating at street level. Corruption & Institutions: Morocco’s southern development model drew attention at a Geneva panel, with rights groups urging closer scrutiny of local benefits. Business & Investment: Givaudan opened a Casablanca development centre to expand fragrance and beauty innovation for Maghreb, West Africa and beyond. EV Supply Chain Shift: China’s electric two- and three-wheeler imports to North Africa surged in H1 2026, with Morocco leading. Trade Signals: Argentina’s corn exports to North Africa hit record levels, with Morocco among the biggest buyers. Construction Demand: Morocco’s cement market contracted 3% in August, with weakness in building-sector deliveries. Football Economy: LNFP extended Morocco’s summer transfer window to Sept. 25, giving clubs more time to complete registrations.

Ceuta Border Funding: The EU approved €114.7m emergency aid for Spain to manage the late-July Ceuta migrant surge, including surveillance tech (thermal cameras, drones) and support for screening and returns. Ceuta Warning Trail: Declassified Spanish intelligence documents say the CNI warned Morocco and Ceuta authorities about planned “mass entries” via social media the day before the crossings, with thousands still reported in makeshift areas. Treasury Liquidity Move: Morocco’s Treasury placed MAD 1.7bn in surplus cash via one-day repo and unsecured operations. Fertilizer Imports: The government approved importing 110,000 tonnes of fertilizers (MoP, DAP and urea) to secure farm inputs. Energy Procurement: Morocco also okayed 18 LNG cargoes from TotalEnergies over nine months under a direct purchase plan. Synthetic Fuel Push: Synhelion signed an MoU for a $1bn, 100,000-ton synthetic fuel plant in Tan-Tan, aligning with Morocco’s industrial energy strategy. Business & Finance: Morocco’s listed banks posted modest H1 growth as high rates weighed on income; Sothema is accelerating pan-African expansion after record results. Elections: Candidate declarations for Morocco’s 2026 House vote closed, setting up the official campaign start. Culture & Trade: El Jadida’s Salon du Cheval returns Oct 13-18 with an upgraded CSI5*-W international show jumping profile. Migration Attitudes: Afrobarometer found only 21% of Moroccans view immigrants as good for the economy, while 36% see a negative impact.

Synthetic Fuels Push: Morocco is moving ahead with a Tan-Tan project to produce about 100,000 tons of synthetic fuel annually, with an estimated $1bn investment—another step in turning renewable power into export-ready fuels. Western Sahara Diplomacy: Greece reaffirmed support for Morocco’s autonomy plan, saying it’s a credible basis for UN-led negotiations under Resolution 2797. EU-Morocco Tensions: Ceuta’s mayor Juan Jesús Vivas urged the EU to review cooperation with Morocco after the July mass crossing, calling for stronger EU border support and a firmer stance toward Rabat. Mining Deal Update: Aya Gold & Silver released an updated Boumadine PEA, boosting after-tax NPV5% to $3.5bn and doubling it from the prior plan, with a 93% after-tax IRR. Trade & Logistics: A report highlights Tanger Med’s move toward automated mooring (MoorMaster) to speed vessel turnaround and reduce manual line handling. Business & Investment: MEADFA opened registration for its 25th-anniversary travel retail conference in Rabat (15–17 Nov), focusing on regional airport and retail growth. Tech & Education: Mint signed an MOU to expand education robotics in MENA, naming Edvance as exclusive distributor for Morocco.

AI Strategy Rollout: Morocco moved from planning to implementation under “Morocco AI 2030,” targeting MAD 100bn in GDP value by 2030, 50,000 jobs, and 200,000 trained AI talents, with a sovereign AI marketplace and JAZARI institutes driving adoption. Auto Market Watch: Morocco’s car market growth slowed to 0.9% in August (14,979 sales), while electrified vehicles hit 17.4% of passenger registrations, up sharply year-on-year. Central Banking Credibility: Bank Al-Maghrib Governor Abdellatif Jouahri earned an “A-” from Global Finance, ranking him among the world’s top central bank leaders. Trade & Energy Links: Morocco is seeking LNG supply security via outreach to the U.S., while a U.S. agency event in Houston will spotlight Morocco’s natural gas and LNG infrastructure opportunities. Politics & Jobs Pressure: The Left Alliance launched a 431-measure election program worth MAD 500bn, with youth migration to Ceuta framed as a confidence crisis and proposals focused on sovereignty, water/energy, and social justice. Education & Consumer Health: OECD PISA results show steep declines for Moroccan students, and a study found “zero-sugar” drinks can still contain up to 5.81g sugar per 100ml. Western Sahara Diplomacy: 40 states in Geneva renewed support for Morocco’s “full and complete” sovereignty over the Sahara, backing the autonomy framework.

Africa50 Infrastructure Push: Casablanca-based Africa50 says it wants to more than double the value of its co-invested infrastructure projects to at least $20bn over the next five years, building on $9bn across 36 deals in power, transport and logistics. Fuel Prices Watch: Morocco diesel could climb past MAD 18 per liter if global gasoil prices keep rising, with Middle East tensions and crude near $100 adding volatility. Corporate Deal (Hygiene): Mutandis plans to buy a majority stake in Enosis in a deal valuing Enosis at 1.7bn dirhams, aiming to scale local home-care production and expand exports. Tourism Seasonality: Saïdia’s Plan Azur model is still held back by all-inclusive dependence, limited air access and the Algerian border closure, with calls to extend the operating season. EU–Morocco Border Politics (Ceuta): Ceuta’s president warns EU cooperation with Morocco should hinge on border respect, while Spain’s Casa 47 map controversy forces removal of a disputed Sahara/territory display. Morocco Business Ecosystem: Morocco recorded 51,800+ new businesses in H1 2026, alongside a push for digital health via One Med Link’s AI-enabled clinical workflow platform.

Morocco–Spain Trade: Morocco’s exports to Spain hit $19.61bn in 2025 while imports fell to $16.51bn, flipping the balance in Rabat’s favor for the first time in decades, with autos, electronics and textiles leading outbound flows. Security & Trade Risks: Spain seized over 3 tonnes of cocaine on a vessel that departed Gibraltar bound for Morocco, underscoring how illicit routes still link the region’s ports. Business & Investment Climate: Morocco ranked 17th globally and #1 in Africa in the 2026 Investment Freedom Index, scoring 80/100, as investors weigh property rights, bureaucracy and capital controls. New Companies & Entrepreneurship: OMPIC reports 51,805 new businesses created in H1 2026, led by Casablanca-Settat and trade activity. Education & Talent: Rabat Business School surged into the Financial Times Global Top 10 (10th), topping metrics like salary growth and graduate satisfaction. Healthcare Expansion: AKDITAL opened its first Saudi hospital in Riyadh (140 beds), marking a major cross-border push. Regional Diplomacy: Morocco won the Arab League’s Permanent Information Committee presidency in Cairo, reinforcing its media cooperation role. Western Sahara: Greece reaffirmed support for Morocco’s autonomy plan as a UN-led negotiation basis. Sports: Yassine Bounou was ruled out for Al-Hilal’s match vs Neom due to injury.

Morocco Court Watch: The Court of Cassation will rule on whether a bank is liable when an ATM retains a customer’s card, after lower courts ordered 5,000 dirhams in damages for a four-day deprivation tied to a closed branch with no clear signage. Food Safety & Fisheries: Scientists warn that pilchard herpesvirus (PHV) is not officially reported in Morocco, but sardine die-offs since August have revived concern; industry leaders urge stronger monitoring and faster reporting. World Cup 2030 Investment Push: Morocco plans nearly $20bn (close to 200bn dirhams) in public and private investment ahead of the 2030 FIFA World Cup, including stadium upgrades and major transport links. Water Security: ONEE is studying a third desalination unit for Laayoune to raise capacity from 600 to about 900 liters per second. Tourism Demand: Morocco says it welcomed 14.1m arrivals in eight months, with August hitting a record. Payments & Fintech: PayTic expands to Saudi Arabia with AI-powered payments back-office services, targeting banks and fintechs. Mental Health Plan 2030: Morocco launches MAD 4bn mental health expansion to widen access and staffing. Regional Business Links: A Mauritanian employers delegation heads to Casablanca for a Morocco–Mauritania economic forum. Trade & Macro: A Fed New York study highlights that the dollar reserve decline is driven mainly by a few large reserve managers, including Morocco.

Ceuta Fallout: Spain’s political fight over the late-July migrant surge into Ceuta is escalating, with PM Pedro Sánchez saying there’s no “solid evidence” Morocco organized the crossings while critics demand answers on security failures and what Spain knew. Dirham & Reserves: Morocco’s dirham slipped 0.9% vs the dollar over Aug. 27–Sept. 2; Bank Al-Maghrib reported reserves at 500.1bn dirhams. Digital Public Sector: Morocco’s digital minister won an AI and “digital sovereignty” award in Paris, highlighting a 2026-2030 roadmap for administrative transformation. Banking Overhaul: A new banking law is set to reshape resolution and regulation as neobanks and “super apps” intensify competition. Trade & Industry: Morocco imported $1.006bn in advanced aerospace products from the US in Jan–Jul 2026 (+35%), supporting air force modernization. Logistics Pressure: Port truckers plan an open-ended strike from Sept. 14 over fuel subsidy levels and VAT cash-flow issues. Social Policy: USFP’s election platform promises higher wages and minimum pensions plus steps to unify pension systems. Sports Business: FIFA confirmed Gianni Infantino will seek re-election in March 2027 in Rabat despite UEFA opposition. Tourism Hit: Spanish travelers drove a spike in Morocco hotel cancellations for September amid the Ceuta crisis. Energy Projects: EIB backs feasibility work for Morocco’s first offshore wind farm; Noor Ouarzazate remains a flagship solar storage project.

Banking Overhaul: Morocco’s banking sector is set for a deep reconfiguration after a new law amending credit institutions and Bank Al-Maghrib’s statute, adding a bank resolution mechanism and resolution financing via the Collective Deposit Guarantee Fund, as neobanks and “super apps” intensify competition. Port Disruption Risk: Moroccan port truckers plan an open-ended strike from Sept. 14, citing fuel subsidy levels for road transport and cash-flow frictions tied to VAT withholding. Renewables Push: The EIB commissioned a two-year feasibility study for Morocco’s first offshore wind farm near Essaouira, assessing technical/economic viability, grid connection, and environmental impacts. Energy Transition Spotlight: Noor Ouarzazate’s solar megaproject (580 MW) is highlighted for its ability to generate after sunset using thermal storage with molten salts. Food Security Aid: Morocco delivered 1,000 tonnes of DAP fertilizer to Mali to support farmers and yields amid climate and soil challenges. Diesel Trade Flows: India is emerging as a key diesel supplier to Europe via Bab-el-Mandeb, as Russian exports stay constrained and US shipments weaken. Ceuta Politics Spillover: Spain’s Ceuta migration crisis continues to fuel political pressure and calls for investigations into Morocco’s role, while protests spread across Spain.

Offshore Wind Push: The European Investment Bank commissioned a two-year feasibility study for Morocco’s first offshore wind farm off the Atlantic coast near Essaouira, led by OWC with MASEN support, to test sites, wind conditions, grid connection and environmental/social impacts. Social Security Watch: Morocco’s CNSS says its compulsory health scheme for non-salaried workers is in a structural deficit, with benefits far outpacing contributions (benefits-to-contributions ratio 157% in 2025). Digital Government: Morocco’s Ministry of Digital Transition and ESCWA signed an MoU to speed up digital transformation and administrative modernization, including AI and service delivery for citizens and businesses. Trade & Food Security: Morocco will subsidize imported soft wheat (up to 20.80 dirhams per quintal) as it resumes imports mid-September to rebuild strategic stocks amid higher global prices. Energy & Industry Deals: Morocco and Italy move to deepen business internationalization via a chamber and Iccrea Banca agreement, while a Chinese cable maker plans a Morocco JV with French ACOME. Tourism Momentum: Morocco welcomed 14.1 million tourists in eight months, with August hitting a new record of over 2 million arrivals. Labor & AI Risk: A call-center outsourcing union warns AI adoption could threaten jobs and asks for a national retraining plan and recognized certifications. EU Relations: Denmark’s FM says a strategic partnership with Morocco is set to be concluded next December, covering political, security and economic cooperation. EU Border Fallout (Ceuta): Spain is setting up new temporary accommodation sites in Ceuta for migrants still on the streets, as minors remain a major concern.

Morocco–Italy Business Links: Morocco’s Chamber of Commerce in Italy (CCMI) and Iccrea Banca signed an agreement in Rome to help firms expand and internationalize between the two markets, including support for Moroccans in Italy launching projects in Morocco. Social Security Watch: Morocco’s CNSS says its compulsory health scheme for non-salaried workers is in structural deficit, with benefits far outpacing contributions (benefits-to-contributions ratio at 157% in 2025). Labor Costs Ranking: Morocco placed 15th globally in the 2026 Global Employer Burden Index, with employer social-security contributions and severance/legal notice periods weighing on hiring. Energy Transition Spotlight: A new report highlights Morocco’s NOOR solar complex as a standout renewable energy success in Africa, citing storage, scale and emissions savings. Call Center Shockwaves: France’s ban on unsolicited commercial calls is already affecting Morocco’s call center sector, with early closures and job risk in Casablanca as firms adjust to the new demand environment. Dirham Update: The Moroccan dirham weakened 0.9% versus the USD from Aug. 27 to Sep. 2, while reserves rose to 500.1bn dirhams. Sahara Diplomacy: Denmark renewed support for Morocco’s Western Sahara autonomy plan, calling it “credible” and a good basis for a UN-led solution.