First Independent Mena Newspaper
South African Mineral Resources Minister Gwede Mantashe has sharply criticized the 30% tariffs imposed by the U.S. on South African exports, calling them a symptom of a “declining empire” lashing out in desperation. “The danger with the US imposing the 30% tariffs is that it is the kicking of a declining empire,” Mantashe told industry […]
Finance and economy ministers from the Alliance of Sahel States (AES) have agreed to fast-track the launch of a new regional financial institution aimed at bolstering economic sovereignty and reducing dependence on external donors, following their exit from regional bloc Ecowas. In a recent meeting in Niamey, officials from Burkina Faso, Mali, and Niger reached […]
Misjudged risk assessments and persistent financial bias are costing African countries a staggering $75 billion annually in inflated borrowing costs and lost revenues, according to the Africa Finance Corporation (AFC). AFC President Samaila Zubairu described the misperception as a “prejudice premium,” arguing that Africa’s default rates are “really, really exaggerated.” Research by Moody’s Ratings supports […]
Nigeria’s Securities and Exchange Commission (SEC) has raised the red flag following revelations of $2.1 billion in suspicious cryptocurrency transactions across West Africa in 2024, according to a study by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA). SEC Director-General, Emomotimi Agama, speaking at the recent West Africa Compliance Summit in Cape […]
Morocco’s budget deficit remained within manageable limits during the first half of 2025, despite an increase in public spending, according to new figures released by the General Treasury of the Kingdom (TGR). As of the end of June, the deficit stood at 24.8 billion dirhams, a level consistent with the targets set in the 2025 […]
The International Monetary Fund’s 2024–2025 Executive Board report offers a nuanced view of Mauritania’s economic outlook, acknowledging strides in macroeconomic stability and reform while underlining persistent vulnerabilities. Security instability in the broader Sahel region remains a critical constraint, diverting public resources toward defense and deterring foreign investment. The fragile regional context, coupled with Mauritania’s reliance […]
The United States, which recognizes Morocco’s full sovereignty over its entire Saharan territory, is expected to release $5 billion funding for the development of the Moroccan Sahara, set to become a major regional economic hub, says Africa Intelligence news website. After years of being frozen under Joe Biden’s Democratic administration, the Trump administration will release […]
La Conserverie des 2 Mers, a French-owned anchovy processing company based in Tangier’s Moghogha industrial zone, has secured funding from MED TEST to modernize its production facility with advanced energy efficiency and environmental protection measures. The investment marks a significant step toward sustainable food processing in Morocco’s thriving seafood industry. The subsidiary of French seafood […]
The military-led governments of Mali, Niger, and Burkina Faso have unveiled plans to fund a new regional investment bank with a portion of their national tax revenues, signaling a deepening break from traditional financial partners and regional bodies. Each country will contribute approximately 5% of its annual tax revenues to the bank, which aims to […]
Morocco must intensify structural reforms and rethink its economic strategy to maintain resilience in the face of mounting climate risks, fiscal pressures, and social demands, according to the 2024 annual report from Bank Al-Maghrib. The report, presented to King Mohammed VI by the Bank’s Governor Abdellatif Jouahri, was released on the occasion of Throne Day. […]