Is Morocco preparing to sell one of its jewels? According to an addendum – addition – to the 2019 finance bill (PLF 2019), which TelQuel Arabi was able to consult, the government intends to put the La Mamounia hotel in Marrakech up for sale. The palace is in fact 60% owned by ONCF, Caisse de Dépôts et de Gestion (20%) and the city of Marrakech (20%). This privatization is part of the actions that the Executive intends to take to replenish state coffers to the tune of 8.8 billion dirhams and with the aim of avoiding an increase in the budget deficit.
In this sense, the government also intends to privatize the Tahaddart thermal power plant.
According to this update of the 2019 PLF, the Executive also excluded any sale of its shares in Cotef (Fez textile complex) and in the CIH bank of Sococharbo (Coal and wood commercial company). Note that attempts to privatize these companies have so far failed. In particular: problems linked to the land of which they are the owners. The privatizations planned by the government as part of the 2019 PLF should bring in between 5 and 6 billion dirhams for the state coffers.
Founded in 1923, La Mamounia is the oldest hotel in Marrakech. The five-star hotel is considered one of the most prestigious establishments on Moroccan territory, but also in Africa. Named “Best hotel in the world” in 2015 by the specialist magazine Condé Nast Traveler, the establishment has hosted numerous political figures such as Charles de Gaulle, Winston Churchill and Nelson Mandela. Artists like Alfred Hitchcock, Charles Aznavour… Not forgetting Paul McCartney who composed the song Mamunia appearing on the album Band on the Run of the group The Wings of which he was a member.
source: telquel.ma
