First Independent Mena Newspaper
Egypt has announced granting ‘golden licenses’ to investor applicants in the north African country for a period of three months, in a bid to speed up projects and boost investment, reports say. The license will allow investors to buy or rent lands, operate and manage the projects and allocate the necessary facilities with just a […]
Namibia has called on Germany to go back to the negotiating table to discuss again and review the genocide agreement reached in May 2021 between the two governments. “Technical committees of Namibia and Germany discussed the issue and proposed that amendments be made to the joint declaration in the form of an addendum which was […]
The International Monetary Fund (IMF) said on Thursday it had agreed a $3 billion Extended Fund Facility (EFF) over 46 months with Egypt, Reuters reports. The deal is part of a four-year international financing program worth a total of $9 billion which also includes $1 billion from the IMF’s Resilience and Sustainability Trust (RST) and […]
Algeria has announced painful reforms including subsidies cuts on which the social peace hinges to try to save its crumbling finances, but all the reforms have vanished as the oil and gas bonanza offer the regime space to gain time and delay reforms as the country heads straight to economic collapse. Before the Russia-Ukraine war […]
Egypt has increased the minimum wage in the public sector from 2,000 Egyptian pound ($101.3) to 3,000 in a move to help workers surf the increase in the cost of living, reports say. Prime Minister Mostafa Madbouly who announced the decision said the government will pay an exceptional bonus of EGP 300 for employees in […]
At least 50 companies are expected to list on the Ethiopian Stock Exchange (ESX), set to launch in two years, which will provide a platform for the privatization of the country’s state-owned enterprises. Three months ago, Ethiopia announced it was in the process of establishing a stock market signaling a window of opportunity for cross-listing. […]
Morocco may no longer issue an international bond as was planned earlier this year amid deep uncertainty and market volatility, finance minister Nadia Fettah Alaoui said. The government expects its financing needs to grow to 60 billion dirhams ($5.5 bln) next year compared with some 45 billion dirhams this year. “We will try to strike […]
The city of Agadir has made a successful issuance of Morocco’s first municipal bond of 1 billion dirhams to fund its development plan. The dirham-denominated bond sale targeted national and international institutional investors as the commune braces for a facelift. The European Bank for reconstruction and development (EBRD) has supported Agadir’s bond with an investment […]
The European Commission adopted on Tuesday a new program worth €115 million to support Morocco’s ecological, inclusive and innovative farming. Dubbed “Terre Verte”, the program aims to contribute to Morocco’s strategies “Green Generation” and “Moroccan Forests” covering the period 2020-2030 by promoting an ecological transition conducive to the creation of decent work opportunities in Morocco […]
A delegation of the International Monetary Fund (IMF) will visit Egypt in the first week of November to resume talks over a new loan agreement. Egypt and the Washington-based institution began talks for a new loan for the Middle East country in March. The Arab country has turned to the IFM for a new loan […]