Morocco’s main port operator hits record 49% profits for 2024
Marsa Maroc reported a net profit of over $130 million in 2024, an increase of 49% over the previous year.
Algeria will import one million sheep ahead of the Islamic holiday Eid al-Adha in June, President Abdelmadjid Tebboune announced Sunday, according to the Associated Press. The move aims to prevent price spikes that have made the ritual sacrifice—practiced by Muslims around the world – unaffordable for many. Last year, prices soared to ten times the minimum wage, forcing some Algerians to forgo the tradition.
Severe drought has devastated livestock farming, driving up feed costs and reducing local supply. The government, which has historically intervened in food markets, will source sheep from international suppliers, as it did last year with 100,000 animals from Argentina, Australia, Brazil, and Spain.
The initiative follows Morocco’s King Mohammed VI suggesting that low-income Moroccans skip the costly ritual, a move widely discussed in Algerian media. With soaring inflation and rising public discontent, Tebboune’s decision reflects broader efforts to ease economic pressures while maintaining government control amid ongoing political unrest.
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