First Independent Mena Newspaper
The leader of transition in Guinea Mamadi Doumbouya has ordered Prime Minister Bernard Gomou to audit the spending of the national budget after the country suffered deficit of $833 million, Faapa news agency reports. A statement from the cabinet said the leader of the West African country wants to correct the shortcomings and failures noted […]
The European Union, EU, is set to grant Tunisia €100 million earmarked to help the North African country surf the impacts of the pandemic and to support the economy, the ministry of Economy and planning has announced. The financing agreement will be signed this Monday, November 14, 2022, at the headquarters of the Ministry of […]
Egypt has reached a deal with Shanghai-headquartered New Development Bank (NDB) to join the financial institution whose strategy the Arab country says is in line with its vision. Minister of Finance Mohamed Maait according to the statement from his department held talks with NDB’s Chairman Marcos Troyjo on the sidelines of COP27. Both parties, the […]
Moroccan MPs gave go-ahead to the 2023 budget law that aims to foster the well-fare state, cut the fiscal deficit and promote investment in a difficult international context marked by the impact of imported inflation and the repercussions of climate change and drought. Drought and inflation have both dipped Morocco’s growth forecast for 2022 to […]
The European Investment Bank (EIB) and the Office National des Chemins de Fer (ONCF) have signed on Wednesday a €200 million (2.1 billion dirhams) financing contract, which represents 80% of a total sum of €250 million earmarked by the European financial institution to support ONCF’s investment plan. The ONCF’s investment plan aims to renew the […]
Some Kenyan lawmakers are demanding to see more documents from a secret $5bn loan agreement with a Chinese bank that financed a cross-country railway, with critics of the deal blaming the government of the day for having given too much legal authority to China. The 2011 agreement was shielded from public view until Kenya’s transport […]
The Qatar Investment Authority (QIA) deposited $1 billion at the Central Bank of Egypt (CBE) at the time the Gulf country was close to a deal to acquire a government stake in some of the major companies in the North African country, Asharq Business reports, citing informed sources. The funds, the sources told the media, […]
Donatien Nagalo, Burkina Faso’s Minister of Industrial development, Trade, Crafts and Small and Medium-sized enterprises, stepped down Tuesday amid growing protests against his appointment by traders who accuse him of fraud and embezzlement, Anadolu news agency reports. “I Sincerely and honestly recognize that I am an honest and honest Burkinabe citizen, dedicated and committed to […]
The African Development Bank (AfDB) will grant Morocco two loans worth $286 million to finance two programs related to the development of cereal growing and the generalization of social coverage. The first loan, worth €199 million (around MAD 2.16 billion) will go to the Support Program for the Competitive & Resilient Development of Cereals (PADCRC), […]
The IMF revised upwards its growth projections for the Moroccan economy to 1.25% in 2022 and 3% in 2023, saying Morocco’s resilient exports, robust remittances and tourism recovery had helped offset some of the fallout of external shocks. The Moroccan government however expects growth to stand at 1.5% this year before increasing to 4% next […]