North Africa Post
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Africa Features Headlines International

Kenya at the heart of Africa’s illicit gold trade, new report reveals

North Africa Post

Kenya has become a major transit hub for smuggled gold from conflict-ridden African countries, with illicit exports far exceeding official figures, according to a new SwissAid report. While the government declared only 672 kilograms of gold exports in 2023, the report estimates that over two tons — possibly far more — are illegally trafficked through […]
Africa Business Emerging Markets Headlines International

Guinea gives mining companies until August 31 to return export proceeds

North Africa Post

Guinea authorities, Thursday August 3, gave August 31 ultimatum to mining companies operating in the country to repatriate at least 50 per cent of their revenues from exports. The warning came from the ministry of Mining and Geology, citing articles of the Guinea’s mining Code. Moussa Magassouba head of the department addressed the companies in […]
Egypt Finance Headlines

EBRD to approve new $100 mln loan for Banque Misr to finance MSMEs

North Africa Post

The European Bank for Reconstruction and Development (EBRD) is set to approve by end of May a $100 million loan program to Banque Misr, under the Financial Intermediaries Framework (“FIF”), to finance micro, small, and medium enterprises (MSMEs). The program, according to the EBRD website, will support BM’s lending to private MSMEs in Egypt, where […]