Moroccan field hospital in Beirut

Morocco’s OCP revenue at $9 bln in 2023

Morocco’s phosphates and fertilizers giant, OCP Group, said its revenue in 2023 stood at 9 billion dollars, down from $11.4 billion a year earlier. OCP explained the performance by a drop of prices from the exceptional levels of 2022, when the war in Ukraine triggered a surge in commodities prices globally. OCP said a drop […]

Sudan govt scraps $6bn Red Sea port deal with UAE

Sudan has cancelled a $6 billion deal with the United Arab Emirates (UAE) to develop a Red Sea port, in an apparent protest against Abu Dhabi’s alleged support for the Rapid Support Forces (RSF), the paramilitary group engaged in the country’s ongoing bloody conflict. Sudan’s Finance Minister Gibril Ibrahim said on Sunday (3 November) his […]

New African Energy Bank set to launch operations in July 2024

Two years after the signing of the founding protocol, the African Energy Bank officially opened its doors on June 4 and slated the operational launch for July. This supranational bank will focus on financing oil and gas projects in Africa, with a view to bridging the financing gap in these sectors and the continent’s energy […]