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Week
ended February 6, 2002 - 118th. Issue
Maghreb
- Industrial Integration
Power Grid Inter-connection, A Model of Industrial
Integration for North Africa
North African countries are displaying an unusual level of
collaboration in the field of power and electricity. Certainly
the most exemplary project is heir electricity grid interconnection,
which should link each country's power system to other countries
in the region, from Morocco to Egypt. The interconnection
will result in the creation of a regional market, which will
allow the linking of the region-wide grid to that of Europe.
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 Morocco
- Rating
Moroccan Banks Unaffected from
Sovereign Rating Downgrade
International rating agencies are revising their outlook
of Morocco and its enterprises. Standard and Poor's
(S&P) and Moody's, the world's most followed rating
agencies, both downgraded Morocco's sovereign rating
from Stable to Negative. While the sovereign rating
deteriorated, the banking sector appears to have been
spared from a similar downgrade.
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Algeria
- Law
Former Governor Detained on False Declaration
on Assets
An Algiers-based magistrate ordered the detention
of former Wali (governor) of Oran, Bachir Frik, for
reporting false data of his financial and personal
assets. A series of press articles related to Frik's
assets acquired while holding public offices in Algiers,
Oran and Annaba, forced the prosecutor to order the
arrest.
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Tunisia
- Airlines
Tunisair, A Troubled Airline
Tunisia's
state-owned airline Tunisair is in bad shape. In addition
to a deteriorating global travel environment which
is hurting the company and the country's overall tourism
industry, Tunisair has been operating under unhealthy
management practices and structural problems. As the
company faces a worsening financial position, Rafaa
Dekhil took over the difficult position of CEO.
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Morocco
- Spain
Row Over An Oil Exploration Permit
Already
angered by the Spanish stance on fisheries, illegal
immigration and narcotic trafficking, which led
to the recall of its ambassador to Madrid, the Moroccan
government now has to deal with another potential
diplomatic row. The Moroccan government is reportedly
angry over the decision of the Spanish government
to allow off shore petroleum exploration between
the Canary Islands and Morocco's Atlantic coast.
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Algeria - Business
A Growing Private Sector in Search
of Legitimacy
Data from the state's statistics bureau (Office national
des statistiques - ONS) show that the share of the
private sector in economic creation, excluding the
oil and gas sector, rose to 75% in 1998 from 70% in
1974. Central planning policies established after
1974 led to a massive deterioration of the private
sector, which saw its contribution to wealth creation
fall to below 55% in 1979.
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Morocco
- Law and the Media
Amendments in Media Law: What Changes?
The
recent changes proposed by the a special committee
of the parliament have led to nothing positive to
the Moroccan media and journalists in general. In
spite of a thick report listing the amendments, the
adopted propositions did not introduce any notable
changes sought by the media profession and the professionals
such as the elimination of imprisonment and a substantial
lowering of fines.
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Algeria - US/Business
American Chamber of Commerce
Inaugurated in Algiers
The
American Chamber of Commerce of Algeria was inaugurated
last week in an effort to boost business relations
between the two countries and to equip American enterprises
with a tool that will enable them to explore market
opportunities in the North African country. For American
ambassador Janet Sanderson, Algeria is an "irresistible"
market given its position and the Chamber is expected
to boost the presence of US companies there.
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A
Growing Private Sector in Search of Legitimacy - Company
to Watch:
Flash Algerie
Flash
Algerie is a privately held company that is seen as
a symbol of a successfully run firm by an aggressive
management team. The firm, which started with just
AD 1 million, produces beverages and has begun to
implement an important diversification program. The
money was raised by its owners, all members of the
same family and with sound management Flash's sales
exceeded AD 130 million in fiscal year 2001.
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