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China expands yuan payment system to Africa and Asia, challenging dollar dominance

In a strategic move to reduce global reliance on the U.S. dollar, China has welcomed six new financial institutions from Africa, the Gulf, and Central Asia into its Cross-border Interbank Payment System (CIPS). The expansion, announced during a ceremony in Shanghai, brings direct participation in the yuan-based payment network to 174 institutions, as China steps […]

EBRD boosts olive oil sector in Morocco with €5 million

The European Bank for Reconstruction and Development (EBRD) is helping to develop the olive oil sector in Morocco with a loan of up to MAD 55 million (€5 million equivalent) to Al Dahra Holding subsidiaries in Morocco, Al Dahra Morocco Factories (ADFAC) and Al Dahra Morocco (ADMO).   The EBRD funds will finance the construction […]

Morocco’s Ymmy Finance Holding wins deal to develop Niger’s capital for $3.3 bln

Morocco’s Ymmy Finance Holding and Niger’s authorities signed deals worth $3.3 bln to facelift Niamey by building new industrial, recreational and energy facilities. Six projects have been retained in the agreements over 8 years as part of a public-private partnership after two years of talks between officials of the Holding and Niamey authorities. The projects […]