French Gallay

Algeria Jails 6, Fines Foreign Firms in Corruption Case

An Algerian court on Tuesday handed prison sentences to six people, ranging from 18 month suspended sentence to 6 years in prison plus fines, in a corruption case involving the country’s state-run oil firm Sonatrach. Seven defendants were acquitted while four companies, including Italy’s Saipem and the German Funkwerk, were also sentenced to fines ranging […]

Moroccan police bust ISIS cell planning attacks

Moroccan security services announced on Monday the arrest of three terrorists with ties to extremist ISIS group. Aged between 26 and 28, the three-member cell was active in the Moroccan cities of Inzegane and Ait Melloul, in Agadir region. The three jihadists, who pledged allegiance to ISIS leader, were planning terrorist attacks aimed at undermining […]

Nine African countries join Afreximbank’s PAPSS platform in push for ‘de-dollarization’

A pan-African payment system that would allow African nations to trade among themselves, using their own currencies, is gaining momentum, as the platform has recently started commercial operations with nine countries having signed up so far, according to the Afreximbank President Benedict Oramah. The African Export-Import Bank — or Afreximbank — expects 15 to 20 […]