The social and economic situation is getting worse in Algeria despite the government’s efforts to contain the crisis, exacerbated by chronic corruption and falling revenue from oil and gas. Deeply concerned over the shrinking of its hard currency reserves needed for the purchase of products manufactured abroad, the Algerian authorities decided to curb import but […]
European Union and African Union (AU) leaders met in Brussels earlier this week to unveil details of the bloc’s $150bn Global Gateway Plan for Africa that is designed to fund projects in infrastructure, energy, and food security, as the bloc attempts to compete with China’s Belt and Road scheme. Moussa Faki Mahamat, the Chairperson of […]
Emirates NBD, the largest bank in Dubai by assets, has commenced due diligence on a potential acquisition of a stake in Banque du Caire, Egypt’s sixth-largest commercial bank. This acquisition is part of Egypt’s ongoing efforts to privatize state-owned businesses as the country seeks to raise up to $2.5 billion in its 2024-2025 fiscal year. […]
