Morocco exempts military industry operators from corporate tax

In a latest measure to spur the defense industry, the Moroccan government adopted a decree exempting investors from corporate tax. The tax break will benefit manufacturers of defense equipment, weapons, and ammunition, the spokesman for the government said following a cabinet meeting. In June, the government approved a bill to set up two industrial acceleration […]

Sahel Alliance charts independent economic path with new development bank

Mali, Burkina Faso, and Niger are accelerating economic integration through their Alliance of Sahel States (AES), establishing a Confederal Bank for Investment and Development with 500 billion CFA francs in initial capital as they pursue greater autonomy from traditional West African institutions. The alliance, formed in September 2023 amid growing dissatisfaction with ECOWAS policies, has […]

Egypt earmarks $75 million for two desalination plants

The Egyptian government has earmarked $75 million for two seawater desalination plants in the Suez Canal Economic Zone. The objective, according to the General Authority of the Suez Canal Economic Zone (SCZone), is to promote economic development in the east of the country. The $75 million investment will boost the seawater desalination capacity in the […]