First Independent Mena Newspaper
Governor of Morocco’s Central Bank, Bank Al-Maghrib, Abdellatif Jouahri said that Morocco lags behind in Financial Technology (FinTech), stressing the need for a change of culture to develop the country’s FinTech ecosystem that plays a decisive role in the field of financial inclusion. Jouahri made the statement at a joint press briefing, he held in […]
Trade exchanges between Russia and Africa should move away from the US dollar and be facilitated by transition to national currencies, Russian President Vladimir Putin has said, just as Tanzania and India have inked an agreement establishing a platform by which their bilateral trade will be carried out in their own currencies, not the dollar. […]
Morocco’s Central bank decided on Tuesday to lift its rates by 50 basis points to 3 percent to counter inflationary pressures exerted both at the domestic and international levels. During its first meeting of 2023 held in Rabat, the Board of Bank Al Maghrib discussed the evolution of the national economic situation and the Bank’s […]
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 […]