First Independent Mena Newspaper
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 […]
China’s Belt and Road investment in sub-Saharan Africa fell to a new low in 2023, which demonstrates that increased EU and US spending could reduce the region’s need to rely on Beijing for funding. China’s investment in the region related to Beijing’s Belt and Road (BRI) initiative, the main pillar of its global infrastructure development […]
The International Criminal Court (ICC) arrest warrant issued for Russian’s Vladimir Putin has put South Africa’s government between a rock and a hard place, as it is now weighing what to do if the Russian president accepts an earlier invitation to attend the August BRICS summit in the country. The Hague-based court issued the arrest […]
The implementation of the African Continental Free Trade Area (AfCFTA) is likely to increase the volume of intra-African trade from the current 16% to over 40% by 2045. However, to reach this goal, African countries should promote the free movement of people across their borders to boost intra-African trade, says Stephen Karingi, director at the […]
Some 174 Nigerian Micro Small and Medium Enterprises (MSMEs) have benefited from a European Union funded facility to produce high-quality Personal Protective Equipment (PPEs) and health-care related products. The MSME companies have been empowered after three years of implementing the EU-funded program which was launched in response to Covid-19 containment measures, aimed to strengthen the […]