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
Guizhou Tyre plans a nearly $300 million tire plant in northern Morocco The factory will produce 6 million passenger vehicle tires per year The...
Fidelity Bank raised 259 billion naira, lifting eligible capital above CBN requirements First Bank of Nigeria also confirmed compliance after multiple...
Carrefour signed a franchise and supply agreement to enter Ethiopia with Midroc’s Queens Supermarket PLC. The partners will convert 13 existing stores...
Ecobank Nigeria repaid about $245 million, or more than 80%, of its $300 million Eurobond due in February 2026. The early repayment reduced...
Most Read
01

Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...

Ethiopia Secures Preliminary Eurobond Restructuring Deal With Private Investors
02

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
03

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
04

Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...

Flutterwave Adds Open Banking With Mono Acquisition
05

African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...

Africa’s Billionaires Post Strong Gains as Global Wealth Hits Record
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.