First Independent Mena Newspaper
Egypt will put Financial Year 2023-2024 budget draft to a community dialogue expected to be convened within the next few weeks in view of enhancing community participation in determining public spending priorities, Finance Minister Mohamed Maait announced Monday. “A community dialogue on the new budget will be launched in the next few weeks, in order […]
The African Development Bank predicts the continent’s growth will be stronger-than-expected at 4% this year. Its cautiously optimistic economic outlook is partly based on the expectation that China will continue to re-open after three years of strict Covid-19 policies “Despite the confluence of multiple shocks, growth across all five African regions was positive in 2022- […]
Egypt signed Sunday a $1.5 billion Annual Work Program with the International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IsDB) Group, to provide integrated financing solutions to the Arab country. Under the agreement, ITFC will deliver Egypt $1.5 billion integrated financing solutions, meant to enhance the country’s capacity to […]
Morocco would issue a dollar-denominated bond in 2023, the first since 2020, the central bank said. Morocco has yet to recover its investment grade although its most recent foreign debt issue was successful. Domestically, central bank official Youness Issami said the central bank has proceeded to purchases of treasury bonds for the first time The […]
The United Nations on Thursday launched an appeal for funds to come to the aid “before it is too late” of 30 million children suffering from acute malnutrition in countries affected by the food crisis. “More than 30 million children in the 15 most seriously affected countries suffer from wasting – or acute malnutrition – […]
Morocco is entering, thanks to the leadership of King Mohammed VI, a new phase of its development characterized by the building of a Social State, the Head of Government, Aziz Akhannouch, said on Wednesday in Davos. In one year, the government has fulfilled the royal agenda by putting in place the regulatory framework for compulsory […]
Canadian company Aya Gold & Silver has raised $70 million for the development of its Moroccan Boumadine and Zgounder mining projects, near Ouarzazate. On Tuesday, Aya firm announced it has agreed to sell 8,485,000 common shares to Eight Capital and Desjardins Capital Markets, as joint bookrunners and co-lead underwriters, together with a syndicate of underwriters. […]
A decision to set up the East African Monetary Institute (EAMI) — the Central Bank of East Africa — which is widely seen as a key institution required in implementing a single currency regime, will be made this year, East African Community (EAC) Secretary-General Peter Mathuki has said. Member states have so far failed to […]
The Sovereign Fund of Egypt (TSFE) and Etisalat Egypt have launched Erada Microfinance to provide access to a wide range of financial services to micro and small enterprises (MSEs). Erada uses financial technology (FinTech) and provides access to a diversified set of innovative financial products for MSEs to expand their businesses, Mubasher.info reports. The partnership, […]
China and Benin signed a Memorandum of Understanding (MoU) on partial debt cancellation Saturday during the visit of the Chinese top diplomat Qin Gang to the African country. Qin said his visit was to “identify more fields of action”, Africa News reports. “China intends to work together with Benin to implement the projects agreed by […]