First Independent Mena Newspaper
Curtains fell on the Africa Investment Forum in Rabat which helped the African Development Bank (AfDB) mobilize a total funding of $29.2 billion for 47 projects, covering critical areas such as water supply, energy, transport, mining, pharmaceuticals, private equity, tourism, and infrastructure. The event drew 2,300 investors and delegates from 83 countries, AfDB chief Akinwumi […]
King Mohammed VI underscored Morocco’s transitional justice experience and the equity and reconciliation commission as a crucial “building block” in the transition to democracy, in the consolidation of the rule of law and of institutions, and in the protection of freedoms. This came in a Royal letter to the participants in an international symposium on […]
The African Development Bank signed a loan agreement worth 350 million euros in support of Moroco’s economic governance, climate resilience, water management, and industry as it also plans to extend a financing of 650 million euros to help Morocco develop transport infrastructure. As part of the first loan, signed during the Africa Investment Forum (AIF) […]
Libya is enacting extraordinary measures to tackle its persistent liquidity crisis. On December 5, 2024, the Central Bank of Libya announced a partnership with the British company ‘De La Rue’ to print 30 billion dinars (approximately $6.25 billion) in new currency. This decision follows years of acute financial difficulties, compounded by political instability since the […]
The World Bank has approved $70 million loan for Morocco to enable country continue implementing ambitious social protection reforms seeking to facilitate access to social services in particular for vulnerable households. Building on the achievements of the first project, which saw a successful design and implementation of the National Population Registry, Unified Social Registry, and […]
Attijariwafa Bank has conducted an early buyback of $290 million of Gabon’s external debt, in a transaction that will ease the debt burden in the country and foster its financial stability. The operation represents 50% of Gabon’s Eurobond. It was made by l’Union Gabonaise de Banque (UGB), the local subsidiary of Attijariwafa Bank. The operation […]
Libya’s National Oil Corporation (NOC) announced this December that it has transferred over $14.8 billion in oil revenues to the Central Bank of Libya since the beginning of 2024. This substantial amount was sent through 23 separate transactions, highlighting the vital role of oil in sustaining Libya’s economy. According to the NOC’s statement, the precise […]
Niger’s military administration has seized control of uranium mining operations previously managed by French nuclear firm Orano, marking a pivotal shift in resource management following the July military takeover. This development represents a significant escalation in deteriorating relations between Niger and its former colonial power, as military authorities implement comprehensive changes to foreign resource extraction […]
Morocco’s OCP group plans to issue an ordinary bond to raise 5 billion dirhams or 500 million dollars as it seeks funding for its ambitious green energy and desalination projects, financial markets regulator AMMC said. OCP, a market mover in phosphates and fertilizers production, plans to go green by 2040 as it forges ahead to […]
Morocco will host the headquarters of the Permanent secretariat of the Union of African Economic and Social Councils and Similar Institutions (UCESA). The headquarters agreement for the establishment of the UCESA Permanent Secretariat in Morocco was signed Wednesday in Rabat by Foreign Minister Nasser Bourita and President of the UCESA Ahmed Reda Chami. This agreement […]