First Independent Mena Newspaper
African diaspora is in need of urgent action to reduce the cost of remittances, an instrumental source of investment and a key factor in reducing poverty in the continent, said participants at an African meeting in Rabat. There are some 150 million Africans living outside the continent with remittances estimated at 100 billion dollars in […]
The strengthening of cooperation between Morocco and Libya in the fight against financial crimes was at the focus of a meeting between public prosecutor at the Court of Cassation, president of the Public Prosecutor’s Office, El Hassan Daki, and chairman of the Administrative Control Authority in Libya, Suleiman Al-Shanti. During this meeting, Daki gave an […]
The World Bank expects Morocco’s economic growth to increase to 3.5 percent in 2023 and 3.7 percent the following year as the country’s agriculture sector recovers gradually from last year’s drought. The spending of the North African Govt. is expected to partially offset weakness in private consumption stemming from high inflation, underlined the WB in […]
The United States has provided $9 million in new military aid to help Somalia’s ongoing campaign against al-Shabab militants, the US embassy in Mogadishu announced. The military equipment handed to the government includes weapons and vehicles and is destined to support the campaign by the Somali National Army to liberate communities from al-Shabab control. It’s […]
Inflation constitutes one of the major economic problems all across Africa, with the food prices in the Democratic Republic of Congo (DRC) and South Africa continuing to rise significantly and with the Senegalese government announcing a rise in fuel and electricity prices starting from Saturday January 7. In its latest update on food inflation, the […]
Samia Suluhu Hassan, President of Tanzania, has appointed Emmanuel Tutuba as governor of the country’s central bank, in replacement of Florens Luoga, whose five-year tenure at the head of the bank came to an end. Tutuba, prior to the appointment, was the permanent secretary at the Ministry of Finance and Planning. He inherits an economy […]
The United States and Türkiye have disrupted ISIS’s ability to finance its operations by designating four individuals and two entities of an ISIS financial facilitation network. The US Department of the Treasury said its Office of Foreign Assets Control (OFAC) designated critical nodes of a key financial facilitation network of the so-called Islamic State of […]
Henri Rabarijohn, the governor of Madagascar’s Central Bank (BFM)) has stepped down from his position on health conditions ground. President Andry Rajoelina has accepted the resignation of Rabarijohn who, according to a statement from the cabinet, stepped down due to health issues and wants to leave the country for treatment abroad. The Malagasy leader appointed […]
The UK’s international institute Chatham House revealed that Angola is the African country that has borrowed the most from China in the last 20 years, to the tune of over $40 billion. Experts in Luanda differ on the relevance or threats of these loans. While some consider that this practice is bad for the country […]
The United States has dropped Burkina Faso from its trade preference program citing deep concerns over “unconstitutional change” in government in the West African country, according to a statement by the office of the US Trade Representative (USTR). The USTR’s office said Burkina Faso had failed to meet the requirements of the African Growth and […]