M6-afrique

French billionaire faces fraud allegations over African port deals

French billionaire Vincent Bolloré is facing fresh fraud allegations from a coalition of African groups, accusing him and his family of benefiting from illegal port concessions across several African nations. The complaint, filed with the French National Financial Prosecutor’s Office (PNF) on Wednesday (19 March), targets Bolloré SE and its former logistics arm, Bolloré Africa […]

Egypt: IMF, ADB agree to release billions to support Egypt’s weak budget

The International Monetary Fund (IMF) and the African Development Bank (ADB) have approved this week release of billions in form of loans to Egypt in order to support its weak budget suffering from lack of foreign assistance and a huge domestic debt, reports say. The IFM according to reports has approved the first $1 billion […]

Morocco’s subsidies spending spikes to $1 bln so far this year

Morocco’s spending on cooking gas, sugar and flour subsidies hit 10 billion dirhams ($1 bln) so far this year, compared with 3.8 billion dirhams the same period last year, official figures showed.   This 170% increase is mainly due to the simultaneous post-covid recovery which created high demand on commodities, worsened by an offer shortage […]