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 […]
Cairo announced Sunday it received $1.5 billion from Saudi Arabia earmarked for development projects in underprivileged Sinai. The Saudi kingdom has already donated Egypt several billion dollars destined to shore up Egyptian battered economy and finance. The new amount, donated by the Saudi Development Fund, will finance the building of a university, 26 residential complexes, […]
The European Union announced on Thursday a new financial package worth €500 million for Morocco. The financial support will enable the North African Kingdom to carry out five projects aiming to strengthen further social protection, green transition, financial inclusion, reform of public administration and improvement of management of migration. The new cooperation deals were inked […]
