Mauritania: Business tycoon Bouamatou returns home after prosecution scraped charges

Mohamed Ould Bouamatou, Mauritania’s most successful businessman, returned home from a decade-long exile, after corruption and fiscal fraud charges against him were dropped last month. The owner of GBM bank and the BSA group landed in capital Nouakchott Monday night onboard a private jet, Le360.ma reports. Bouamatou fled Mauritania in early 2010 after falling out […]

Morocco’s Dam Filling Rate Climbs to 36% Thanks to December Rain

Morocco’s water reserves have seen a sharp improvement following recent rainfall, with the national dam filling rate rising to 36%, up from 33.6% just four days earlier, official data show. As of December 26, the country’s reservoirs held 6.046 billion cubic meters, compared to 5.637 billion cubic meters on December 22, that is a net […]

North Africa: IFC Supports SMEs with €15 Mln Investment

The International Finance Corportation, a member of the World Bank Group, is injecting €15 million in a new private equity fund by AfricInvest, a leading private equity fund manager, to help expand access to finance for small and medium enterprises in North Africa. The investment is part of a larger effort to support economic growth […]