The initiative, tagged PASS, will provide teacher training and student scholarships through nonprofit, non-governmental organizations (NGOs), with an initial focus on eleven countries – Brazil, China, Colombia, Jamaica, Mexico, Morocco, Nigeria, Senegal, Romania, Russia and Turkey. It aims to reach one million school days over the next three seasons and builds on the work the company has already done to support education globally.

Proceeds from the initiative will be allocated and distributed based on the educational needs and costs of each identified market. This initiative will run for the three years of Western Union’s sponsorship of the UEFA Europa League until 2015.

The project which was launched by Global payment services and new Global Partner of the UEFA Europa League, The Western Union Company and the Western Union Foundation will be fronted by former international football star Patrick Vieira.

“Where I come from, opportunities for a quality education are rare,” explained Vieira the former AS Cannes, AC Milan, Arsenal FC, Juventus, FC Internazionale Milano, Manchester City FC and French international player, who was born in Senegal before moving to France at the age of 8, and is currently football development executive at Manchester City FC.

“Football was my ticket to success, but for the vast majority of young people education is the key that allows them to become whatever they want to be. That’s why I’m supporting this campaign. It will benefit students, teachers and schools across the world, particularly in places that need it most, like Senegal where I was born,” said Vieira.

“Through PASS, we intend to harness the power of football to build awareness of this challenge as well as deliver on-the-ground support that will make a difference to young people and their communities,” said Hikmet Ersek, Western Union President and CEO.

David Taylor, CEO of UEFA Events S.A. also stated that the Western Union’s PASS initiative will allow players give something back to their hometown communities beyond simply the excitement and entertainment they create on the pitch.”

UEFA Europa League’s global audience, football fans from Africa, the Americas, Asia as well as Europe, will also be given the chance to add to the fund during the season through a range of online and social media mechanics.

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Kraft which had 50 percent share of bimo will double its holding with the acquisition of SNI’s stake.

According to Reuters, the transaction is expected to be completed within 6 months after which it would have passed through the necessary regulatory approvals.

Bimo, which is unlisted on the Moroccan bourse, was founded in 1981 and has two production stations with a total workforce of 1,400 staffs.

Morocco’s recent free trade deals have contributed to increased participation in the biscuit business with a crumbling effect on Bimo’s sales. In 2011, the company recorded 831 million dirhams ($96.4 million) in sales, accounting for 13 percent share of the north African nation’s biscuit market.

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Everybody has to start somewhere

Having dropped out of school aged 16, Sefrioui followed his father into the family business: producing a clay used for body and hair cleansing, known as “Gassoul”. While this may not be every budding young businessman’s dream, it provided Sefrioui with a business grounding and practical knowledge of running an enterprise. Not to mention the fact that it eventually earned him the capital to start up his own business. Opportunity, however seemingly slight, should not be passed up.

You have to invest money to make money

Aged just 31 years old, Sefrioui took the risky step of mobilising all of his savings and investing them in founding a new real estate development company: Douja Promotion Groupe Addoha. Buying-up run down and derelict residential buildings, Sefrioui made his name by renovating these structures and selling them off at a profit. Note, while making money he was also increasing the housing available on the market for those buying with a mid-range budget.

Hard work will get you noticed

Sefriouni’s big break came in 1998, when his work in producing residential property came to the attention of the late King Hassan II. Through this royal attention Sefrioui was awarded a construction contract and was asked to build a large number of government-subsidized housing units intended for the low and middle income residents. This contract made Sefrioui his first hundreds of millions of dollars, and set him up as a big player on the real-estate development scene.

Provide quality services to earn customer loyalty

Sefrioui completed the initial government contract to a very high standard, and finished well before the agreed completion date. He earned such favour with King Hassan II that in 2005 he was awarded another contract worth $1 billion. Under the remit of these two contracts, Sefrioui has built over 200,000 housing units in Morocco, covering over 15,000 acres of land.

When the time is right, go public

Following the successful completion of the 2005 government contract, in 2006 Sefrioui listed his company Douja Promotion Groupe Addoha on the Casablanca Stock Exchange. On going public, he sold shares earning him over 2.6 billion Moroccan dirhams ($330 million). The company now has a market cap of $2.3 billion, and Sefrioui maintains a 62 percent stake in the company.

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The Argan tree is an ancient species that formerly spanned most of North Africa, but due to over-harvesting for timber and livestock grazing has seen its range limited to southwestern Morocco. The trees produce nuts, which in turn contain almond-shaped pods which, when crushed and processed, yield oil that is valued for its taste and flavour across Morocco. This rare Argan oil is used in couscous, salads and for dipping breads. Rich in vitamin E, phenols and caratenes, it is also used to treat skin conditions and has recently found favour in the cosmetics industry.

Zoubida Charrouf, a professor at Mohamed V. University in Morocco, initially developed an interest in the tree and its oil for conservation reasons, but has since improved the extraction of oil by establishing processing cooperatives – such as the Ajddigue and Taitmatine cooperatives – run entirely by local women. This commercialisation of Argan oil has boosted business in the cooperatives and emancipated the women by offering them a meaningful livelihood. Charrouf says that Argan Oil “should readily find a place of choice amid the most profitable oils for human health”. Celebrities as diverse as Sophie Dahl, model and writer, and Heston Blumenthal, one of Britain’s leading chefs, are fans.

The commercialisation was achieved by mechanising some of the tedious production tasks, such as grinding the nuts and pressing the oil. This sped up the operation and also improved the quality of the oil, doubled its shelf life, and reduced waste. Membership in the cooperatives now ranges from 35 to 40 women, who now earn about $8.60 a day, an increase of more than ten times from when the projects began in 1997. Argan oil is now a high value niche product on the international market, and what began as a cottage industry could now provide more employment to Moroccan women.

”At the time [the project started], we were losing more than 600 hectares of Argan forest each year,” says Charrouf. “But we also wanted to convert this ecological problem into an economic opportunity. I knocked at several doors, but no one believed in my project. Now Argan oil is known around the world.” The economic opportunity that Charrouf uncovered for Moroccan women is now being supported with grants from the Moroccan government and the European Union.

“Being part of the cooperative freed me from tedious domestic work in people’s homes,” said one member of the Taitmatine cooperative. “Now I’m learning to read and write and I’ve learned how to ensure the quality of the Argan kernels. The cooperative has made me more independent. I’ve been able to visit other cooperatives in other provinces. I’ve seen how girls and women like me have been able to shape their own destiny and move ahead to develop their cooperatives.”

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According to a Reuters report, the source said: “We are not going to the international market because we want to cover expenditure. We want to do it for investment.”

This development comes shortly after the IMF granted the north African nation a $6.2 billion credit over a 2-year duration. The Moroccan government plans to use the funds to shore up its economy in the possible advent of an economic emergency or collapse.

Morocco’s economy is highly dependent on the credit-hit Eurozone but it believes the secured IMF credit would encourage foreign investors and lenders to lend to it favourably.

Reuters’ source also revealed that Morocco “may introduce some terms that can allow institutional investors from the GCC (Gulf Cooperation Council) to subscribe for around half the total” of the $1 billion sovereign bond.

Last year, Morocco’s fiscal and current accounts deficits were at a record-high after many years because the government was forced to increase public sector wage and subsidies to curb the revolts that characterized the Arab spring from surging within its populace.

Its agricultural output was also plummeted due to harsh weather conditions, therefore contributing to the shortage of cash in its domestic market, which is the country’s strongest creditor.

Worst is, its foreign currency reserves can not fund five months of subsidies.

According to Reuters, authorities have “promised to start reducing spending on subsidies, costs of which amounted to roughly the budget deficit last year, but indicated the process may take until 2016.”

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The planned railway will cover 300KM (185 miles) between the Port of Tangiers and the commercial city of Casablanca. The 200MPH train will cut travel time between the two commercial cities from nearly 5hrs to barely over 2hrs.

“The high speed train is one of the best ways to improve Morocco’s competitiveness,” Rebbah argued after storming out of the organised meeting with critics. He said critics were distributing insulting literature.

Critics says the country cannot afford such fancy rail when much of Morocco is not served by rail. The project is more to improve the relationship with France arguing that the money could be used to build 25 university teaching hospitals or 100 new engineering school.

The no-bid project was awarded to France who had build the Morocco rail during the colonial era. France will be funding the project while the rest will be covered by loans from oil-rich Arab countries in the gulf.

The project is expected to be completed by 2015.

Image via Global Arab Network

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