First Independent Mena Newspaper
South Africa’s coal sales to Europe rose eight-fold during the first six months of 2022 compared with last year as demand for the fossil fuel surged ahead of a ban on Russian coal, according to Thungela Resources, a South Africa-based thermal coal exporter. The European Union banned Russian coal imports in response to the invasion […]
Morocco’s growing automotive sector is preparing the ground for the shift to electric vehicles as the country ambitions to set up a battery factory and further bolster the competitiveness of local part makers. In a push to achieve zero emission quest by 2050, the EU imposed a ban on petrol and diesel cars from 2035. […]
Kanga Potash, a world class, low-cost potash project developer, is seeking to raise about $500m for the first phase of its potash development project north of Pointe Noire in the Republic of Congo. According to the company’s executive chairman Stéphane Rigny, about 60% of the amount will be debt and 40% equity, including some mezzanine […]
Saudi Arabian retailer BinDawood Holding has acquired 80.5% stake in Paris-based marketing agency Ykone through its wholly owned subsidiary Future Technology Retail (FTR), Zawya reports. BinDawood Holding in a statement said the transaction is part of the company’s strategy to boost its e-commerce presence. “The Middle East’s influencer marketing industry is growing exponentially. This investment […]
Morocco’s aerospace industry is expected to exceed 2019 levels as new big players invest in the country, the latest of which is Collins aerospace which signed a deal with Morocco’s industry ministry to build an ecosystem benefiting from an already existing platform The exports of the aerospace sector up to May this year hit 877 […]
The next step in the expansion of Morocco’s automotive sector is the setting up of an electric vehicle battery plant to build on existing raw material and meet a rising demand in the domestic and international market, industry minister Ryad Mezzour said. The ministry is negotiating with several manufacturers the setting up of such a […]
As it moves forward with plans to add to its 22 African routes, experts wonder if Emirates could be the airline that connects Africa with the world, pushing Turkish Airlines and other major players to the sidelines. Africa is desperately looking for flights today, even though most African countries launched national airlines after independence to […]
U.S. Vice President Kamala Harris has thanked King Mohammed VI and the Corporate Council on Africa (CCA) for hosting the U.S.-Africa Business Summit which opened on 19 July in Marrakech. Addressing, remotely, participants in the summit from Washington D.C., the American Vice-President said: “I would like to thank the Corporate Council on Africa, His Majesty […]
The global economic outlook is “darkening”, the managing director of the International Monetary Fund (IMF) said on Wednesday, citing the war in Ukraine and the “commodity price shocks” it has caused among the main reasons. The IMF plans to publish later this month “a further downgrade” to its growth forecasts “for both 2022 and 2023”, […]
Trade exchanges between Morocco and Brazil reached $466.3 million in the first quarter of 2022, or 18.2 pc increase compared to the same period of last year. According to data released by Brazil’s economy ministry, Moroccan exports to Brazil dropped to $223.5 million in Quarter 1 2022 from $251.8 million recorded from January to March […]