First Independent Mena Newspaper
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. […]
Prices of cobalt, a key mineral for energy transition, began to rise following an export ban by the Democratic Republic of the Congo to balance the market. On China’s Wuxi Stainless Steel Exchange on Monday, cobalt trading was paused after prices jumped nearly 12%, the highest since October. Last month, DRC said it will stop […]
Morocco is preparing to launch a tender to launch 5G bandwidth, a project that attracts interests from China’s Huwawei and western firms, Morocco’s Finance News Hebdo said. Huwawei is already operating in the country in partnerships with local operators Maroc Telecom and Orange Maroc and seems to be better placed compared to western peers such […]
Chinese state-owned firms are playing a dominant role in port development across Africa, with a presence in 78 ports across 32 countries as builders, financiers, or operators, sparking concerns about China’s long-term geo-strategic aims. According to a new report by the Washington-based Africa Center for Strategic Studies, these Chinese firms are not only builders and […]
Morocco won the presidency of the UN Economic Commission for Africa (ECA), in an event that highlights the Kingdom’s clout and leadership within the continent. The one-year-term presidency will feature the chairmanship by Morocco’s industrial minister Ryad Mezzour of the Confederation of African Ministers for Finance, Planning, and Economic Development. Algeria, as was expected, attempted […]
The International Monetary Fund (IMF) Executive Board completed its fourth review of Egypt’s economic reform program under the Extended Fund Facility (EFF) arrangement, granting the country immediate access to approximately $1.2 billion. The approval, announced on Tuesday March 11, marks a significant step in Egypt’s ongoing efforts to stabilize and reform its economy with the […]
Morocco’s tourist arrivals grew 24% to 2.7 million tourists up to the end of February this year, underscoring the momentum in the sector. “A half-million additional visitors in just two months is a figure that speaks for itself. This confirms that Morocco has its place among the world’s top destinations,” tourism minister Fatim-Zahra Ammor said. […]
Moov Africa Gabon, the local subsidiary of Morocco’s Maroc Telecom, was spared a nationalization push that affected many strategic firms in the country. Speaking at the Mobile World Congress (MWC) Gabon’s minister of digital economy made it clear that “the sector of telecommunications was not concerned by nationalization policies.” Since Brice Oligui Nguima took power […]
The recent rainfall that blessed most Moroccan fertile lands gave farmers hope after a prolonged drought compromised this year’s harvest. The rainfall coupled with snow in the mountains improved the dam filling rate to 30% on March 10, from 26% last year. While the rain could have a limited impact on grains, spring crops will […]
Egypt’s tax revenues surged by 38 percent in the first half of the 2024/2025 fiscal year, according to Finance Minister Ahmed Kouchouk. During a panel organized by the Egyptian Association for Direct Investment and Venture Capital, Kouchouk attributed this growth to the Government’s ongoing efforts to broaden the tax base and strengthen cooperation with taxpayers. […]