The Crédit Agricole Maroc banking group on Tuesday (June 5th) signed an agreement with farmers’ cooperatives and their Union (UNCAM), and the National Federation of Millers at a ceremony chaired by Minister Aziz Akhannouch of Agriculture .
This agreement commits the bank to make available to agricultural cooperatives subsidized loans for the purchase and storage of wheat harvested this season.
Morocco will have to record 9.82 million tonnes of 2018 wheat, equivalent to the rate of the previous year. In 2017, Morocco’s total soft wheat imports were 4.2 million tonnes, compared with 2.1 million tonnes of maize, 850 000 tonnes of durum wheat and 440 000 tonnes of barley.
It should be recalled that in 2015, the Moroccan authorities increased customs duties on soft wheat imports to 75 pc, against 17.5 pc to protect the local harvest. Wheat is one of the most important products in the daily life of Moroccans.
Agriculture represents more than 15% of the Moroccan economy and employs nearly 40% of the active population.
Trending
- Banks: Ivorian Bank to pay out 21.25 billion CFA francs in gross dividends to its shareholders for the 2025 fiscal year
- Burkina Faso: Nearly 50 billion CFA francs in the Public Treasury
- Industry: Sicable company incurs a loss of 221.7 million CFA francs in the first quarter of 2026
- Tunisia: Slight widening of the trade deficit by 3.62% in the first quarter of 2026
- BEAC and restructuring funds at odds in Washington
- DRC reaches milestone in dispute over Manono lithium
- Nigeria: Zenith Bank becomes the top bank in terms of market capitalization after a more than 70% increase
- Africa Specialty Risks appoints Mary Driscoll as Regional Head for Southern Africa
Morocco: a Crédit Agricole / Producer partnership to support the wheat sector
Amadjiguéne Ndoye
Economic journalist with a Master’s degree in Communication and Journalism from the Higher Institute of Information and Communication Sciences in Dakar (ISSIC). Avid reader and music enthusiast. Feminist at heart and passionate about fashion.
Add A Comment
About us
Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, give meaning to statistics….
Contact us: redaction@financialafrik.com