Finance

Morocco: BMCE starts building Africa’s tallest tower for $307 million

Wednesday, 16 March 2016 13:47

Banque Marocaine du Commerce Extérieur (BCME Bank) just started construction of a 45-storey and 250 m tower in Bouregreg, near Rabat, for 3 billion dirham ($307 million).

Construction works for the tower which is to be Africa’s tallest started on March 9. King Mohammed VI was present at the launching. The tower is the central pillar of the future urban, touristic and cultural centre which will be established in Rabat. The Wessal Bouregreg as it is named is one of the major components of the “Rabat Ville Lumière, Capitale marocaine de la Culture (Rabat City of Lights, Capital of Culture)” program, launched by the king in May 2014.

Covering a 3 hectares area, the tower should house a 350 seats auditorium, businesses at the ground floor, offices in the first 12 floors, a residential area from the 13th to the 26th floor (55 apartments) and a luxury hotel in the upper floors. The four remaining floors will host high-standing apartments.

A third of the tower’s façade will be covered with photovoltaic panels which are to power the infrastructure. 

On the same topic
Cameroon will issue the first 15-year OTA in CEMAC on February 17, 2026. The Treasury seeks CFA20 billion to test demand beyond the 10-year...
IFC considers up to $8 million in Aruwa Fund II $50 million fund targets Nigerian, Ghanaian SMEs Focus on women-led firms in underserved...
Vista acquires 99.99% of Saham Assurances Niger Company rebranded as Vista Assurances Niger Deal marks entry into Niger’s small insurance...
Beltone acquires Baobab Group for €197.6 million Deal expands footprint into seven sub-Saharan countries Baobab serves 1.6 million...
Most Read
01

Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...

Togo Microfinance: Deposits and Loans Rise Simultaneously in Q3 2025
02

Oil majors expand offshore exploration from Senegal to Angola Gulf of Guinea accounts for about 1...

Gulf of Guinea regains appeal as a key exploration hub for oil majors
03

Rwanda, partners break ground on $2 billion Kigali Innovation City Smart city targets ...

Rwanda Mobilises Global, Local Finance for $2Bln Innovation City Targeting Africa’s Digital Economy
04

MTN is considering buying back telecom towers it sold years ago, signalling that control of infras...

MTN’s Talks to Buyout IHS: A Strategic Reversal That Could Reshape African Telecoms
05

Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...

Safaricom launches M-Pesa platform for stock trading in Kenya
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.