First Independent Mena Newspaper
Morocco’s gigafactory ecosystem is taking form. South Korean LG Energy Solution Ltd, the world’s 2nd-largest battery maker for electric vehicles, turned to Morocco to secure lithium supplies through an association with Chinese Yahua. On Wednesday, LG Energy Solution Company signed a Memorandum of Understanding with lithium compound manufacturer Yahua to produce lithium hydroxide in the […]
Africa’s travel market is open again and experiencing a boom, despite the serious damage the industry sustained due to the Covid-19 pandemic — this is a sentiment expressed by an estimated 600 exhibitors at the World Travel Market (WTM) Africa, the continent’s biggest and most important travel and tourism event that has officially opened its […]
The Economic Community of West African States (ECOWAS) has teamed up with the European Union and the Food and Agriculture Organisation (FAO) with the aim to boost fishery production across the West Africa region. The ECOWAS has recently convened more than 100 experts in a meeting tagged ‘Improved Regional Fisheries Governance in Western Africa (PESCAO)’ […]
Kenya is considering tax reforms, including possible tax breaks, to entice hesitant US and EU investors after Washington complained that corruption and a lack of transparency in tax policy inhibited investment in the East African country. Nairobi is exploring various tax incentives to reluctant Western investors and it also threw out the red carpet for […]
The World Bank has approved a third Development Policy Financing (DPF) of $450 million for Morocco to enable the country advance financial and digital inclusion, key enablers in reducing poverty and boosting shared prosperity This third financing was announced end of March. It is “in line with the recommendations of the New Development Model (NDM), […]
The International Monetary Fund (IMF) decided on Monday to provide a $5 billion precautionary flexible credit line (FCL) to Morocco to enhance the country’s external buffers, and support its economic resilience and structural reforms. Ms. Antoinette Sayeh, IMF Deputy Managing Director, said : “Morocco’s very strong macroeconomic policies and institutional framework have allowed its economy […]
South Africa will use its position as the 2023 chair of the BRICS multilateral bloc to advance the interests of African states under the theme of ‘BRICS and Africa Partnership for Mutually Accelerated Growth, Sustainable Development and Multilateralism’. “Africa supplied raw materials that contributed to the industrializations of other parts of the world. It is […]
Several members of the top commandment of South Africa’s ruling African National Congress party, ANC, have traveled to Russia at the invitation of Russia’s ruling United Russia Party, ahead of August 15th BRIC summit, scheduled in Pretoria, Africa News reports. The ANC issued a statement last Saturday indicating discussions will focus on “the recalibration of […]
Credit rating agency Standard & Poor’s Global Ratings has maintained Morocco’s sovereign credit rating at BB+/B with a “stable outlook”, attributed to the country’s ongoing structural reforms that will support robust economic growth. “The stable outlook on Morocco reflects our expectation that ongoing structural reforms will support robust economic growth and help counterbalance external and […]
Morocco is set to bolster the share of renewable energy in its installed capacity to 43% by the end of the year, from 41% currently with a view to increasing its consumption of renewable energies to 52% of the global total by 2030, said head of Morocco’s water and electricity utility Abderrahim El Hafidi. Speaking […]