Morocco’s central bank increases three-fold banks refinancing capacity

The Central bank said it will intervene to ensure there is enough cash for banks through increasing three-fold their refinancing capacity in dirham and hard currency. The move comes as a lifeline for Moroccan banks to offset the financial repercussions of coronavirus and help them offer loans for enterprises and households, the central bank said […]

Africa boosted fiscal revenues in 2023 through improved tax transparency — report

Seven African countries collected $2.4 billion of additional revenue through tax transparency, exchange of information and related measures in 2023 than over the 13 preceding years combined, a new progress report for the so-called Africa Initiative has found. Launched at a recent 15th Meeting of the Africa Initiative in Lomé, Togo, the Tax Transparency in […]

Nigeria declares state of emergency in oil-rich Rivers State

President Bola Tinubu has declared a state of emergency in Nigeria’s oil-producing Rivers State, suspending the governor, deputy governor, and all state lawmakers amid escalating security concerns and political upheaval. The dramatic intervention follows reports of militant attacks on critical oil infrastructure in the strategically vital region. In a televised national address, Tinubu cited “disturbing […]