Tag: Morocco

Moroccan BAM Creates Postal Bank Subsidiary

Posted by | Aug 31, 2007 | |

Moroccan post office Barid al Maghrib (BAM), also known as Poste Maroc, has set a bank subsidiary, called Finaposte, Moroccan media reported on August 30, 2007.

Finaposte will be created after it spins off the national treasury (“Tresorerie Generale du Royaume” -TGR). The new bank will operate BAM’s postal checks accounts as well as its postal money orders, BAM CEO, Anass Alami, said.

The move is the first step in achieving BAM’s goal to become a postal bank. The spin-off is scheduled to occur on September 1, 2007.

The Moroccan postal office had 858,000 postal checks bearers and 2.3 million postal savings bearers.

BAM’s bank transition strategy follows the example of French postal group La Poste.

The Moroccan group expects to post a 12 pct year-on-year revenue increase for 2007 thanks to the acquisition of a 35 pct stake in Moroccan consumer credit firm Sofac Credit.

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TNT Express expands Express Road Network to Morocco

Posted by | Sep 19, 2006 | |

TNT Express, one of the world’s leading express delivery companies today announced it has extended its Express Road Network (ERN) into Africa by starting an international road line haul connection to Casablanca, Morocco. By doing this, TNT is the first major express company to create an owned time definite road line haul connection between Africa and Europe.

This expansion complements TNT Express’ focus on further strengthening its networks by expanding into the merging markets within and around Europe, which to date has concentrated on Eastern Europe. This step reflects TNT Express’ strategic intents to become number one in both Europe and Rest of the World emerging markets.

Morocco traditionally has a strong trade relationship with the region as the gateway between Europe and Africa. TNT will leverage on this geographic situation by connecting its entire European road network to the African continent. Morocco is one of the fastest growing markets in the region and several trade agreements will fuel this growth in the future. Casablanca is connected to the ERN through Madrid with a sea connection between Tangier and Algesiras.

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TNT service extended

Posted by | Jul 25, 2005 | |

TNT has extended its Express Import service to 20 additional countries, including Mexico, Colombia, Ecuador, Morocco, Libya, Madagascar, Iraq and Sri Lanka. The service allows customers to arrange collections from a client in another country and pay for the delivery in their own currency. They can also send shipments to a receiver in another country and have them pay for the transaction in the local currency, removing any difficulties arising from exchange rate conversions and fluctuations.

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Chronopost opens agency in Marrakech

Posted by | Jul 10, 2005 | |

The international Chronopost Company inaugurated Monday July 4, 2005 a new agency in Marrakech. The inauguration of the new agency was held in the presence of local authorities and representatives of Barid Al the Maghreb, as well as the chairman and Director of Development Africa Gilles Moutel and a number of high ranking officials from Chronopost.

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