Mail & Guardian: Pretoria weighing economic & political risks of U.S. designation of Polisario terrorist organization

The American designation of the Polisario a foreign terrorist organization will have serious implications for South Africa, warned South-African newspaper Mail & Guardian. Such a designation will deprive the separatist group of its traditional state supporters namely Algeria and South Africa, said the daily in a recent Op-Ed authored by Michael Walsh, senior fellow at […]

Egypt to hold community dialogue on FY 2023/24 budget draft to identify priorities

Egypt will put Financial Year 2023-2024 budget draft to a community dialogue expected to be convened within the next few weeks in view of enhancing community participation in determining public spending priorities, Finance Minister Mohamed Maait announced Monday. “A community dialogue on the new budget will be launched in the next few weeks, in order […]

Egypt’s biggest investment bank takes over state-run Arab Investment Bank

EFG Hermes, Egypt’s biggest investment bank, has completed its takeover of state-owned Arab Investment Bank for an undisclosed transaction. EFG Hermes, Arab News reports, agreed to purchase a 51% stake in the bank in May, with the Sovereign Fund of Egypt also acquiring a 25% stake and the current owner, Egypt’s state-owned National Investment Bank […]