AU Commission Chair

Covid-19: World Athletics backs El Guerrouj’s initiative, sets up athletes’ support fund

World Athletics launched on Tuesday, upon the initiative of Moroccan former athletics star Hicham El Guerrouj, a $500,000 fund to support professional athletes experiencing financial hardship due to the coronavirus pandemic. The fund, set up in partnership with the International Athletics Foundation (IAF), will be used to assist athletes who have lost most of their […]

OCP’s 2017 Revenues Hit 48.5 bln Dirham

Morocco’s state-owned phosphates giant (OCP) said its revenues grew 14% in 2017 to reach 48.5 billion dirhams compared to 42.48 billion in 2016. OCP’s phosphates rock sales increased 40% while the group’s revenues from selling fertilizers jumped 24% compared to 2016. This performance helped the OCP offset a fall in international prices, the company said […]

Africa pays high price for misjudged risk — $75bn lost annually

Misjudged risk assessments and persistent financial bias are costing African countries a staggering $75 billion annually in inflated borrowing costs and lost revenues, according to the Africa Finance Corporation (AFC). AFC President Samaila Zubairu described the misperception as a “prejudice premium,” arguing that Africa’s default rates are “really, really exaggerated.” Research by Moody’s Ratings supports […]