First Independent Mena Newspaper
The closure of three key banks in the United States has taught Nigeria tough lessons, prompting Africa’s biggest economy to launch a $672 million fund to support its tech startups. Nigeria wants to cushion its startups against the kind of situation that Chipper Cash, a victim of the fall of SVB and the bankruptcy of […]
Egypt’s leading e-payments solutions provider Fawry denied Monday any affiliation with Silicon Valley Bank (SVB), nor any of its subsidiaries, weeks after US authorities ordered the closure of SVB with the Federal Deposit Insurance Corporation (FDIC). The company in a press release also confirmed that it does not currently have any relationships with any bank […]
The European Union has launched an initial mobilization of €50m in Democratic Republic of Congo’s (DRC) critical minerals sector and infrastructure projects on the sidelines of the first-ever Kinshasa Economic Forum. The funding was announced at the inaugural Kinshasa Economic Forum, which brought together representatives from the EU, the DRC and France French President Emmanuel […]
A pathological fixation on Morocco has been ongoing in Algerian media at the instigation of a military-run regime that made attacking Rabat its daily tactic in a failed attempt to distract a disenchanted people from its own looming financial and economic collapse. Last but not least, Algerian state-sponsored media, including once-independent TSA, revealed their superficiality […]
Thanks to its sound economic and financial fundamentals, Morocco has fostered its attractiveness to foreign investors, while receiving preferential terms from international financial organizations. Within a month, Morocco’s reforms earned it an exit from the grey list of the Global financial crime watchdog, the Financial Action Task Force. Few days later, Morocco scored another financial […]
The World Bank said it halted cooperation with Tunisia after a surge in racism in the country triggered by anti-migrant speech by its president. President Kais Saied stoked racism in the country, triggering a spate of state-condoned violent acts that affected many Sub-Saharans living in the country. News agencies, including Reuters, said the World Bank […]
The International Monetary Fund intends to approve Morocco’s request for a 5 billion-dollar Flexible Credit Line (FCL) during a meeting of its executive board meeting. “Considering Morocco’s very strong policy frameworks and track record, IMF Managing Director Kristalina Georgieva intends to recommend approval of the FCL arrangement for Morocco when the IMF Executive Board meets […]
Despite the tightening global financial conditions, African economies are expected to remain resilient with a stable outlook in 2023-2024, according to a report by the African Development Bank (AfDB) that however urges bold policy actions to mobilize and leverage private financing for development in the continent. Africa’s average GDP growth is projected to stabilize at […]
Leaders attending the 5th UN Conference on the Least Developed Countries (LDC5) in Doha, Qatar, have voiced their disappointment and bitterness over the treatment of their poor nations by richer counterparts. Many of the leaders from the world’s poorest nations attending the summit called on developed powers to come good with billions of dollars of […]
The European Union announced on Thursday a new financial package worth €500 million for Morocco. The financial support will enable the North African Kingdom to carry out five projects aiming to strengthen further social protection, green transition, financial inclusion, reform of public administration and improvement of management of migration. The new cooperation deals were inked […]