First Independent Mena Newspaper
The Qatar Investment Authority (QIA) deposited $1 billion at the Central Bank of Egypt (CBE) at the time the Gulf country was close to a deal to acquire a government stake in some of the major companies in the North African country, Asharq Business reports, citing informed sources. The funds, the sources told the media, […]
Donatien Nagalo, Burkina Faso’s Minister of Industrial development, Trade, Crafts and Small and Medium-sized enterprises, stepped down Tuesday amid growing protests against his appointment by traders who accuse him of fraud and embezzlement, Anadolu news agency reports. “I Sincerely and honestly recognize that I am an honest and honest Burkinabe citizen, dedicated and committed to […]
The African Development Bank (AfDB) will grant Morocco two loans worth $286 million to finance two programs related to the development of cereal growing and the generalization of social coverage. The first loan, worth €199 million (around MAD 2.16 billion) will go to the Support Program for the Competitive & Resilient Development of Cereals (PADCRC), […]
The IMF revised upwards its growth projections for the Moroccan economy to 1.25% in 2022 and 3% in 2023, saying Morocco’s resilient exports, robust remittances and tourism recovery had helped offset some of the fallout of external shocks. The Moroccan government however expects growth to stand at 1.5% this year before increasing to 4% next […]
Nigeria’s currency, the naira, has dropped to a record low against the US dollar as Nigerians scramble to stockpile the greenback ahead of a redesign of naira notes. It has been just over a week since the Central Bank of Nigeria (CBN) announced its plan to redesign the country’s highest paper denominations – the 200-, […]
Dubai-based Emirates Airline suspended flights to and from Nigeria from October 29 over blocked funds, the airline’s spokesperson has confirmed, Zawya reports. “Emirates has continued to actively seek a solution for the repatriation of the remainder of its blocked funds in Nigeria. We were encouraged by the Central Bank of Nigeria’s efforts of reviewing our […]
The Central African Republic’s (CAR) recent pledge of allegiance to Russia comes amid speculation that its recent adoption of Bitcoin was a means of opening up the financial system to Russian companies after they were locked out by global sanctions. CAR adopted a law in July to introduce Bitcoin as legal tender, but the law […]
The third edition of the Africa Investment Forum (AIF) kicked off Wednesday in Abidjan, the economic capital of Côte d’Ivoire, with the participation of officials and representatives of many countries, including Morocco. Morocco is represented at this event by a delegation of the National Office of Hydrocarbons and Mines (ONHYM) chaired by its Director General […]
The International Monetary Fund, IMF, announced November 1 the re-election of Egypt’s ex-Minister of Investment, Mahmoud Mohieldine, as executive director and member of the board. Mohieldin represents a group of Arab states, namely Egypt, the UAE, Bahrain, Kuwait, Oman, Qatar, Jordan, Iraq, Lebanon, and Yemen, along with the Maldives. Following his re-election Mohieldin stressed that […]
Noureddine Taboubi, the Secretary General of Tunisia’s powerful labor union UGTT, Monday laid into the government of President Kais Saied for succumbing to the International Monetary Fund and pledging to relinquish control of some state-run companies, including a bank and a factory. The government “recently made a commitment to the International Monetary Fund to sell […]