First Independent Mena Newspaper
Egypt’s central bank governor, Tareq Amer, resigned on Wednesday amid the country’s ongoing economic crisis and the Egyptian President accepted his resignation, according to several press reports. Amer had been at the helm of the central bank since 2015, and was due to hold the position for another year. The resignation comes amidst a severe […]
The Central Bank of Egypt, (CBE) collected around $5.2 billion (EGP 100 billion from local banks in the weekly open market operations (OMO) as the North African country turns to local, regional and international banks for loans to address growing economic pressures. The CBE data indicate that the funds were raised at a fixed rate […]
The current Moroccan government has set four priorities for next year’s appropriation bill as it continues to navigate through turbulent waters to materialize its promises of reinforcing the basis of the social state, bolstering post-Covid economic recovery, attracting investors and curbing inequalities between regions. The government has been challenged by imported inflation which weighed on […]
The European Union has decided to increase its aid to Morocco for struggle against illegal immigration by 50%, granting the North African Kingdom €500 million, according to Spanish daily El País. This aid, covering the period up to 2027, is double that of the previous period that amounted to €343 million. According to a EU […]
Saudi Arabia’s Public Investment Fund (PIF) and London-based real estate investment firm Cain International have injected $900 million in luxury hotel group Aman, Zawya reports citing the two partners. “Our investment in Aman Group reflects PIF’s belief in the current potential of the hospitality and tourism industry, both internationally and in Saudi Arabia,” PIF Deputy […]
Group One Holding, a Singapore-based company backed by Qatar’s wealth fund, Qatar Investment Authority (QIA), is considering a US initial public offering (IPO), reports say. The company is reportedly changing its legal domicile to the Cayman Islands from Singapore as a step towards the listing. Group One Holdings is Asia’s largest global sports media platform […]
Egypt is considering taking a loan estimated at around $2.5 billion from regional and international lenders to tackle growing economic pressures, reports say. The government, Bloomberg has revealed citing sources familiar with the matter, is negotiating with regional and international banks over the details of the financing. The talks, the unnamed sources told the US […]
Morocco is among the countries most exposed to geological and climate-related hazards in the Middle East and North Africa (MENA) region, says the World Bank in a recently-published report, noting that although Morocco does not contribute as much to climate change as more industrialized nations, it has still experienced the effects of the global climate […]
In a major development in Africa’s capital markets, Angola has launched its first initial public offering (IPO), which could lead to a slew of privatizations of some of the country’s biggest conglomerates. In June, Banco BAI, Angola’s largest private bank, floated a 10% stake following the country’s first initial public offering (IPO), viewed by observers […]
Many, if not most, African economies have endured a torrid time over recent years, as their finances have been hard hit by two global crises – Covid-19 and the Russia-Ukraine war. As a result, numerous states across Africa have turned to the International Monetary Fund (IMF) for assistance. Ghana is expecting to receive $3 billion […]