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
Blue Earth Capital secures over $100 million first close Impact secondaries strategy targets emerging markets, including Africa and...
Coris buys Portugal state’s 59.81% stake in Banco Comercial do Atlântico Deal approved by Portugal and Cape Verde regulators Transaction...
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross-border financing rose to CFA405.6 billion Credit...
Sahel Capital secures $29 million first close for agribusiness fund SCAF II targets West African agribusiness value chains Fund makes first...
Most Read
01

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
02

Development Partners International sold its 20.17% stake in Atlantic Business International for mo...

DPI Exits Atlantic Business International in $200 Million-Plus Deal
03

Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...

Stripe-Owned Paystack Enters Nigerian Microfinance Banking Via Acquisition
04

Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...

Amazon wins approval to enter Nigeria’s satellite internet market
05

This week in Africa, Africa CDC continues its clinical trial on mpox, while a new study highlights l...

Weekly Health Update| Rising diabetes rates raise health risks in Morocco and the MENA region
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.