First Independent Mena Newspaper
The European Investment Bank (EIB) has pledged to guarantee loans extended to Moroccan exporting SMEs operating in the automotive, textile, agro-industry and agricultural sectors. An agreement was signed Wednesday in Casablanca with Morocco’s Banque Centrale Populaire (BCP) to enable SMEs to get funding to modernize their operations, reduce CO2 emissions, expand working site, and increase […]
Kenya wants to renegotiate a multibillion-dollar loan from China that was used to build a major railway because though the country is up to date on its payments, it cannot continue with the current 20-year schedule. Answering questions from a parliamentary committee, Kenya’s incoming transport minister, Kipchumba Murkomen, said the country will have to ask […]
The United States has pledged to disburse additional $44 million to Niger to help the West African country address food insecurity. The announcement was made by Victoria Jane Nuland, the Under Secretary of State for Political Affairs, following a meeting with President Mohamed Bazoum in a capital Niamey on Wednesday. “I had a rewarding conversation […]
King Mohammed VI has appointed Mohamed Benchaaboun as head of the Mohammed VI Investment Fund, at a time Morocco assigns particular importance to spurring private investment. The appointment was announced during the meeting of the Council of Ministers, held Tuesday in rabat, under the chairmanship of the sovereign, who has set the target of attracting […]
Ghana’s cedi slumped over the last three days to become the world’s worst-performing currency this year as investors continued to squeeze foreign capital into the West African country. The currency of the world’s second-biggest cocoa producer depreciated as much as 3.3%, which took its losses this year to more than 45%, the most among 148 […]
The ministerial council chaired by King Mohammed VI has approved a draft budget that aims at fostering the pillars of the welfare state by focusing on the generalization of social protection, upgrading the education system, improving access to social housing and protecting vulnerable groups. The draft budget expects a growth rate of 4% and a […]
King Mohammed VI, who was accompanied by Crown Prince Moulay El Hassan, chaired, this Tuesday, at the Royal Palace in Rabat, a Council of Ministers devoted to examining the General guidelines of the 2023 appropriation bill and the adoption of a draft Dahir, three draft organic laws, three draft decrees as well as a number […]
Uganda is running an economy with the most developed financial sector in East Africa, which is only the latest feat that depicts a major milestone in the country’s race towards becoming a regional financial hub, with an eye to increased inflow of foreign direct investments, according to the latest study by the Official Monetary and […]
Sub-Saharan Africa’s economic activity is expected to slow significantly in 2022 and remain relatively modest in 2023 and looking ahead, the outlook remains highly uncertain, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for Sub-Saharan Africa. A downturn in advanced economies and emerging markets, tighter financial conditions, and volatile commodity prices, […]
Egypt has announced a deal with the International Monetary Fund (IMF) on policies and economic and structural reforms for the country’s new economic reform program, amid talks for a new loan program. Egyptian authorities announced the success of technical meetings held between an Egyptian delegation and the director and experts of the IMF, saying the […]