First Independent Mena Newspaper
The Egyptian government launched a fund for investment in projects issuing carbon certificates with an authorized capital of EGP 1 billion ($40.7 million). The fund, dubbed EgyCOP, will finance Egyptian companies’ projects that reduce carbon emissions through the issuance of globally-accredited certificates from Switzerland’s The Gold Standards Foundation, the Arab country said in a statement. […]
Guinea President Mamady Doumbouya has sacked the Minister of Infrastructure and Transport, Yaya Sow, under investigation since November 7 over alleged corruption attempt in his department. A statement read on the national TV RTG announcing the firing said the move was taken because of the launch of a judicial investigation by the Court of Repression […]
The recent collapse of FTX exchange platform has sent shockwaves around the world, taking with it billions of investors’ money, including in Africa where crypto investors are now taking stock of their own losses. While some users in the United States and the Bahamas were able to withdraw their funds before the full crisis hit, […]
International Finance Corporation (IFC) will invest 12.18 billion shillings ($100 million) in Nairobi-listed Diamond Trust Bank (DTB) to support small and medium enterprises (SMEs) impacted by Covid-19, Zawya reports, citing Kenyan Wall Street newspaper. The investment will be in senior debt under its Covid-19 emergency response working capital solutions scheme (WCS FIGE). IFC initiated the […]
The leader of transition in Guinea Mamadi Doumbouya has ordered Prime Minister Bernard Gomou to audit the spending of the national budget after the country suffered deficit of $833 million, Faapa news agency reports. A statement from the cabinet said the leader of the West African country wants to correct the shortcomings and failures noted […]
The European Union, EU, is set to grant Tunisia €100 million earmarked to help the North African country surf the impacts of the pandemic and to support the economy, the ministry of Economy and planning has announced. The financing agreement will be signed this Monday, November 14, 2022, at the headquarters of the Ministry of […]
Egypt has reached a deal with Shanghai-headquartered New Development Bank (NDB) to join the financial institution whose strategy the Arab country says is in line with its vision. Minister of Finance Mohamed Maait according to the statement from his department held talks with NDB’s Chairman Marcos Troyjo on the sidelines of COP27. Both parties, the […]
Moroccan MPs gave go-ahead to the 2023 budget law that aims to foster the well-fare state, cut the fiscal deficit and promote investment in a difficult international context marked by the impact of imported inflation and the repercussions of climate change and drought. Drought and inflation have both dipped Morocco’s growth forecast for 2022 to […]
The European Investment Bank (EIB) and the Office National des Chemins de Fer (ONCF) have signed on Wednesday a €200 million (2.1 billion dirhams) financing contract, which represents 80% of a total sum of €250 million earmarked by the European financial institution to support ONCF’s investment plan. The ONCF’s investment plan aims to renew the […]
Some Kenyan lawmakers are demanding to see more documents from a secret $5bn loan agreement with a Chinese bank that financed a cross-country railway, with critics of the deal blaming the government of the day for having given too much legal authority to China. The 2011 agreement was shielded from public view until Kenya’s transport […]