First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) is providing additional loan financing of €100 million to Société Nador West Med (NWM) for the construction of the Nador West Med port in the Oriental Region of Morocco. The loan is a new, second tranche under a €200 million EBRD loan agreement signed in 2015, announced […]
The European Bank for Reconstruction and Development (EBRD), the Green Climate Fund (GCF) and the European Union (EU) have agreed to provide a financing package of up to €25million to Banque Centrale Populaire (BCP) to support Morocco’s green transition. This is the third facility provided to BCP under the GCF Green Economy Financing Facility (GEFF) […]
The United States has imposed sanctions on more than 40 people and entities for alleged rights abuses from nine countries, which include asset freezes of Guinea’s former President Alpha Conde and Karim Keita, son of former Malian President Ibrahim Boubacar Keita. The US Treasury’s Office of Foreign Assets Control (OFAC) said in a statement the […]
Morocco has contributed $5 million to the African Development Fund (ADF), which provides concessional funding for projects, technical assistance for studies and capacity-building activities in Africa. The Moroccan contribution was made during the Fund’s 16th replenishment meeting convened in Tangier Dec.5-6 to raise money for low-income African countries to enable them counter social and economic […]
The Casablanca Stock Exchange has been connected to the African Exchanges Linkage Project (AELP), an e-platform which enables cross-border securities trading among African stock exchanges and contributes to economic integration. In its first phase launched this week, AELP connects seven stock exchanges across 14 African countries: Morocco, Egypt, Nigeria, Kenya, Mauritius, South Africa and the […]
Nigeria’s central bank has imposed restrictions on weekly cash withdrawals to limit the use of cash as credit agency Moody’s warned that the country’s banks face tough challenges over a dollar shortage. Foreign currency risk is “very high” for Nigeria’s banking system, according to a report by Moody’s. Nigeria is one of seven countries worldwide […]
Several partners have pledged to contribute up to $23.5 billion to the Niger’s Economic and Social Development Program known as PDES 2022-2026, the office of President Mohamed Bazoum has announced on the sidelines of an investors’ roundtable held in Paris dec.5-6. “At the end of the first day, 22.3 billion euros (23.405 billion USD) of […]
Leaders of the Western African regional grouping ECOWAS have pledged to club together $1 billion as urgent fund to address terrorism in the region. The pledge came Sunday during the 62nd summit of heads of state of the bloc in Abuja, Nigeria. A communique of the summit read Tuesday indicated that the leaders expressed their […]
A special task-force has proposed to delay the implementation of the East African Monetary Union (EAMU) until 2031 from initial date of 2024, saying it is too soon considering members have not attained all requirements. The proposed delay is an indictment on the members’ commitment to achieve EAMU, a key pillar of integration. The EAMU […]
The eight member countries of the West African Economic and Monetary Union (UEMOA) have not been spared by multiple crises affecting the world and its economic growth rate reached 5.7% in 2022, down 0.4% compared to 2021, the leaders of this organization meeting in Abidjan announced this week. The eight member countries of UEMOA — […]