First Independent Mena Newspaper
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 […]
Africa needs further access to sustainable finance to achieve development goals and bolster growth, Moroccan finance minister Nadia Fattah said. “The long-awaited growth of our continent depends heavily on the ability of our countries to access the financing needed to achieve the goals of the 2030 Agenda for Sustainable Development and the African Union’s Agenda […]
Africa is poised to play a leading role in energy transition as it continues to attract prime investors thanks to its large deposits of critical minerals, African Development Bank chief Akinwumi Adesina said. Speaking at the opening of the African Investment Forum in Rabat, Adesina said Africa holds 95% of chromium, 90% of Platinum Group […]
Saham Group said it has completed the acquisition of the Moroccan subsidiary of French Société Générale SGMB and its insurance business, La Marocaine Vie. Moulay Hafid Alamy has been appointed president of SSGMB following the sale. Earlier this year, Société Générale announced the sale of its majority shares at 57% of SGMB to Saham. The […]
Italy’s Ecoprogetti Company, a leader in solar panels manufacturing, has increased the production capacity of its plant in Morocco from 500 MW to 1 GW, strengthening the country’s transition to a green economy. The plant, located in the city of Al Hoceima, is operated by Almaden Morocco. It is the largest solar module manufacturing site […]
King Mohammed VI is represented at the One Water Summit, which opened this Tuesday in Riyadh, by Head of Government Aziz Akhannouch. The summit is addressing the global scarcity of water resources and the related challenges. The One Water Summit, held alongside the 16th session of the Conference of the Parties (COP16) of the United […]
In the first ten months this year, tourism revenue and remittances from Moroccans abroad steadily increased on the way to break last year’s record. Tourism revenue grew to $9.7 billion, while remittances from Moroccans living abroad reached nearly $1 billion, auguring well for the country’s foreign exchange reserves, currently covering 5.5 months of import needs. […]