馃嚥馃嚘MoroccoNorth Africa
CIMR reports strong financial performance and growth in 2025
via Le Matin2 min read
The Moroccan Interprofessional Retirement Fund CIMR closed the 2025 financial year with technical provisions reaching 102.47 billion dirhams, a 10% increase from 92.97 billion dirhams in 2024. These provisions include the contingency reserve and the mathematical provision for capitalization and accrued but unpaid benefits. The operating surplus, excluding the mathematical provision for capitalization, rose by 11% to 9.5 billion dirhams, up from 8.55 billion dirhams the previous year. In 2025, CIMR welcomed 13,655 new members, comprising 13,106 individual members and 549 corporate members covering 7,868 affiliates. The total number of affiliates grew by 5.1% to 822,806 people, with 474,524 active contributors and 348,282 beneficiaries. Active contributors increased by 6% compared to 2024. During 2025, 212,053 individuals received benefits from CIMR. Net investment income reached 4.48 billion dirhams by the end of 2025, a 9% increase from 4.13 billion dirhams a year prior. CIMR's portfolio was valued at 125.555 billion dirhams at market value as of December 31, 2025. Actuarial balance sheet results confirm the scheme's sustainability, with the contingency fund projected to remain positive and show an upward trend throughout the projection period, meeting the two criteria of the steering charter. Beyond financial performance, CIMR is undertaking transformation and modernization projects, including implementing a data governance policy to enhance data quality, reliability, securi
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Must ReadChina aims to deepen its strategic partnership with Morocco, ten years after its establishment by Chinese President Xi Jinping and His Majesty King Mohammed VI in 2016. Chinese Ambassador to Morocco, Yu Jinsong, emphasized a new phase in relations, moving beyond diplomacy to encompass trade, investment, industry, and new technologies. The year 2026 also marks the 68th anniversary of diplomatic relations between the two nations. Bilateral trade has surpassed 10 billion dollars, with Chinese investment commitments in Morocco also exceeding 10 billion dollars. Morocco is seen as a strategic partner, capable of serving as a platform connecting China, Africa, Europe, and the Arab world, due to its geographical position, trade agreements, and industrial base. The Tanger Tech industrial city project is a key example of this cooperation, with over 40 companies signing contracts and an expected investment exceeding 4 billion dollars, creating more than 22,000 direct jobs. This project signifies a shift from primarily commercial cooperation to a more structured industrial relationship and is part of China's "Belt and Road" Initiative, which Morocco joined in 2017, becoming the first North African country to sign a specific cooperation document in 2022. The ambassador also advocated for the effective implementation of "zero customs duties" for Moroccan products entering the Chinese market, aiming to diversify Morocco's exports away from European markets. Future cooperation is expected t
FIFA has launched a giant countdown clock at Grand Central Terminal in New York City for the 2026 World Cup final. This initiative, in partnership with the New York station, highlights the global nature of the competition and the host region for the final. The iconic departure boards have been reprogrammed to display the kickoff time in various cities across the 48 participating countries. FIFA states that this installation symbolizes the universal reach of the event, demonstrating how a moment experienced in New York鈥揘ew Jersey will be shared simultaneously worldwide. Grand Central Terminal has been a symbol of mobility and connection for over a century, and FIFA emphasizes that the World Cup final also represents a unifying moment, watched by billions of viewers across all continents. The match will kick off at 3:00 PM GMT-4, officiated by Slovenian referee Slavko Vin膷i膰. Photos and a video of the World Cup trophy displayed at Grand Central Terminal are available to media on FIFA's Digital Hub until July 20. FIFA concludes that the 2026 World Cup final will unite all participating nations and its 211 member associations, from Madrid to Buenos Aires, Tokyo to Rabat, Toronto to Port-au-Prince, and Auckland to Mexico City.
Morocco has introduced a new system to subject digital services provided by foreign companies to Moroccan customers to Value Added Tax VAT. This mechanism, which came into effect on June 11, 2026, with the launch of the "Taxation on digital services" teleservice by the General Directorate of Taxes DGI, aims to integrate the digital economy into the Moroccan tax system. It ensures that foreign providers adhere to similar rules as Moroccan-based companies. The decree, published in the Official Bulletin of December 2025, applies to non-resident companies offering remote electronic services to non-VAT-registered individuals in Morocco. This includes platforms like Netflix, Spotify, ChatGPT, Google, Meta Facebook and Instagram, certain services from Uber and Airbnb, cloud computing, online software, paid applications, and other digital subscriptions. To determine a customer's location in Morocco, factors such as a Moroccan bank card, billing address, IP address, or phone number may be used. Affected foreign providers must register with the DGI, obtain a Moroccan tax identifier, declare quarterly turnover in Morocco, and pay the corresponding VAT electronically. They are also required to maintain records of transactions with Moroccan customers for ten years. While the new system mandates foreign providers to pay VAT, it does not compel them to increase their prices. Each company can choose to absorb the tax or pass it on, fully or partially, to customers. If the 20% VAT is fully pa