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Moody’s underscores Morocco’s resilience to domestic and external shocks

Credit rating agency, Moody’s, highlighted Morocco’s resilience to domestic and external shocks despite coronavirus propelling fewer tourists and exports which it said will be offset by lower energy imports. It maintained Morocco’s credit profile at Ba1 stable reflecting “demonstrated resilience to domestic and external shocks,” and buoyed by access to relatively deep domestic capital markets. […]

Nigeria greenlights Seplat Energy’s buy of ExxonMobil’s Nigerian unit

Nigerian President Muhammadu Buhari, who doubles as oil minister, has granted consent to the acquisition of ExxonMobil’s Nigerian unit by Seplat Energy, in a $1.28 billion deal announced in February. According to the statement published Monday, Buhari granted the consent in his capacity as minister of petroleum resources and, in consonance with the country’s drive […]

UN strips South Sudan, Equatorial Guinea, Gabon of rights to vote over arrears

The United Nations has repealed rights to vote of six countries including South Sudan, Equatorial Guinea and Gabon over arrears on dues to operating budget of the global organization. The three African countries, in addition to Dominica, Venezuela and Lebanon, have lost their rights to vote per charter of the organization. Members whose arrears equal […]