Fitch Solutions

Mauritania: Malaysian Petronas quitting business

Malaysian oil company Petronas has started pulling back and is about to end its operation in Mauritania due to sharp fall in revenues caused by the acute collapse of oil price. The company had notified Mauritanian authorities in February that it would stop its oil exploitation. The company has started disassembling its offshore oil platform […]

Empty-handed, Tebboune starts premature electoral campaign

After four years in office without any major economic or diplomatic achievement, President Tebboune of Algeria has already started his premature electoral campaign touring the country. In 2019, amid the pro-democracy protests that ousted ailing president Bouteflika, Tebboune was the civilian curtain of then Algerian kingmaker General Gaid Saleh. Soon after the sudden death of […]

UK fintech Revolut seeks foothold in Moroccan market

British fintech giant Revolut is in advanced negotiations with Bank Al-Maghrib as it seeks to establish a strategic foothold in Morocco, potentially positioning the country as its continental base for expansion across Africa. Speaking to reporters, governor of Morocco’s central bank Abdellatif Jouahri said the institution held technical meetings with Revolut’s representatives in June and […]