First Independent Mena Newspaper
King Mohammed VI, who was accompanied by Crown Prince Moulay El Hassan, chaired, this Tuesday, at the Royal Palace in Rabat, a Council of Ministers devoted to examining the General guidelines of the 2023 appropriation bill and the adoption of a draft Dahir, three draft organic laws, three draft decrees as well as a number […]
Uganda is running an economy with the most developed financial sector in East Africa, which is only the latest feat that depicts a major milestone in the country’s race towards becoming a regional financial hub, with an eye to increased inflow of foreign direct investments, according to the latest study by the Official Monetary and […]
Sub-Saharan Africa’s economic activity is expected to slow significantly in 2022 and remain relatively modest in 2023 and looking ahead, the outlook remains highly uncertain, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for Sub-Saharan Africa. A downturn in advanced economies and emerging markets, tighter financial conditions, and volatile commodity prices, […]
Egypt has announced a deal with the International Monetary Fund (IMF) on policies and economic and structural reforms for the country’s new economic reform program, amid talks for a new loan program. Egyptian authorities announced the success of technical meetings held between an Egyptian delegation and the director and experts of the IMF, saying the […]
The administration of President Patrice Talon of Benin has unveiled the 2023 budget put at around $4.5 billion, up from $4.4 billion the previous year. The cabinet also forecasts 6.5 per cent of Gross Domestic Growth (GDP) for the same year, a little higher than the 6 per cent attained last year. The government forecasts […]
U.S. Agency for International Development and the International NGO GiveDirectly are providing an additional $4 million to support Moroccan agricultural cooperatives suffering from recent economic shocks, including the Covid-19 pandemic, drought, inflation, and a global food crisis sparked by the Russia-Ukraine crisis. At the end of September, the U.S. Congress approved $2 million for a […]
Axel Van Trotsenburg, World Bank Managing Director of Operations Wednesday called on Tunisia to carry out crucial fiscal reforms which he claimed will put the North African country on development trajectory. “These reforms are equally important for the population,” Trotsenburg said in a tweet following a meeting with Tunisia’s Ministers of Planning and Finance. The […]
Cairo-based fintech startup, Telda, has landed $20 million in seeding funding from several investors including Jack Dorsey, former Twitter Chief Executive Officer, Bloomberg reports. The seed fund will serve the expansion into new markets. Telda also plans to use the money to build its product offering. “In Egypt dealing with money is still a complicated […]
The Spanish Council of Ministers approved, on Wednesday, an agreement to grant a loan of up to 20 million euros to the Fund for the financing of microfinance organizations in Morocco, Jaïda. The loan, granted through the Spanish Agency for International Development Cooperation (AECID), aims to finance the expansion of the Jaïda Fund portfolio. ”The […]
With many Africans using cryptocurrencies for everyday transactions rather than speculation, cryptocurrency market across Africa grew by over 1200% between 2020 and 2021, and its usage remains high in 2022 despite the ongoing difficult bear market. 2022 has been a very difficult year for digital asset and cryptocurrency markets when the value of many major […]