First Independent Mena Newspaper
Nigeria’s currency, the naira, has dropped to a record low against the US dollar as Nigerians scramble to stockpile the greenback ahead of a redesign of naira notes. It has been just over a week since the Central Bank of Nigeria (CBN) announced its plan to redesign the country’s highest paper denominations – the 200-, […]
Dubai-based Emirates Airline suspended flights to and from Nigeria from October 29 over blocked funds, the airline’s spokesperson has confirmed, Zawya reports. “Emirates has continued to actively seek a solution for the repatriation of the remainder of its blocked funds in Nigeria. We were encouraged by the Central Bank of Nigeria’s efforts of reviewing our […]
The Central African Republic’s (CAR) recent pledge of allegiance to Russia comes amid speculation that its recent adoption of Bitcoin was a means of opening up the financial system to Russian companies after they were locked out by global sanctions. CAR adopted a law in July to introduce Bitcoin as legal tender, but the law […]
The third edition of the Africa Investment Forum (AIF) kicked off Wednesday in Abidjan, the economic capital of Côte d’Ivoire, with the participation of officials and representatives of many countries, including Morocco. Morocco is represented at this event by a delegation of the National Office of Hydrocarbons and Mines (ONHYM) chaired by its Director General […]
The International Monetary Fund, IMF, announced November 1 the re-election of Egypt’s ex-Minister of Investment, Mahmoud Mohieldine, as executive director and member of the board. Mohieldin represents a group of Arab states, namely Egypt, the UAE, Bahrain, Kuwait, Oman, Qatar, Jordan, Iraq, Lebanon, and Yemen, along with the Maldives. Following his re-election Mohieldin stressed that […]
Noureddine Taboubi, the Secretary General of Tunisia’s powerful labor union UGTT, Monday laid into the government of President Kais Saied for succumbing to the International Monetary Fund and pledging to relinquish control of some state-run companies, including a bank and a factory. The government “recently made a commitment to the International Monetary Fund to sell […]
Egypt has announced granting ‘golden licenses’ to investor applicants in the north African country for a period of three months, in a bid to speed up projects and boost investment, reports say. The license will allow investors to buy or rent lands, operate and manage the projects and allocate the necessary facilities with just a […]
Namibia has called on Germany to go back to the negotiating table to discuss again and review the genocide agreement reached in May 2021 between the two governments. “Technical committees of Namibia and Germany discussed the issue and proposed that amendments be made to the joint declaration in the form of an addendum which was […]
The International Monetary Fund (IMF) said on Thursday it had agreed a $3 billion Extended Fund Facility (EFF) over 46 months with Egypt, Reuters reports. The deal is part of a four-year international financing program worth a total of $9 billion which also includes $1 billion from the IMF’s Resilience and Sustainability Trust (RST) and […]
Algeria has announced painful reforms including subsidies cuts on which the social peace hinges to try to save its crumbling finances, but all the reforms have vanished as the oil and gas bonanza offer the regime space to gain time and delay reforms as the country heads straight to economic collapse. Before the Russia-Ukraine war […]