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EBRD greenlights $25m loan to Egypt-based UMC

The European Bank for Reconstruction and Development (EBRD) has rubber-stamped the loan of $25 million for Egypt-based United Metals Company (UMC). The funding is aimed at backing the company’s working capital needs amidst the COVID-19 pandemic. The loan will enhance the Company’s financial resilience to withstand the potential negative implications of the COVID-19 pandemic through […]

Africa Day 2023: AU promotes AfCFTA, rejects great-power competition in Africa

The African Union (AU) used the celebrations of the 60th anniversary of ‘Africa Day’ this week to warn the continent not to become a “geo-strategic battleground” for global powers and also to promote the African Continental Free Trade Area (AfCFTA). Africa must not become a “geo-strategic battleground” for global powers, as it grapples with several […]

Tunisia: Water Scarcity Hits Country, People Called to Pray for Rain

The warning launched last month by Watchwater, Tunisia’s citizen water observatory, about a “thirst uprising” is becoming increasingly evident. The observatory had warned that “the failure to find urgent and sound solutions will increase protests across the country.” The authorities are aware of the problem but have no solution at hand. State Secretary for Water […]