First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) provides Morocco’s Office National de l’Electricité et de l’Eau potable (ONEE) €300 million loan to strengthen the financial & climate resilience of the utility company and support its digitalization projects. The Moroccan National Office of Electricity & Drinking Water is involved in generation, transmission and renewables. The […]
The World Bank has agreed to provide Morocco $250 million funding to support the country’s social protection system which has improved living standards of vulnerable households and expanded access to essential services. In December 2023, Morocco launched the Direct Social Benefit (DSB) program as a key component of the national social protection reform. As of […]
As Egypt navigates its economic recovery, a notable divergence has emerged between Government projections and IMF estimates regarding public debt reduction. While the Egyptian Government targets a reduction of public debt to 85% of GDP by the end of FY2024/25 and to 80% by mid-2027, the IMF forecasts a slower decline from 92.9% to 73.9% […]
Qatar National Bank (QNB) has petitioned a U.S. federal court to enforce a $1.02 billion arbitration award against South Sudan, stemming from an unpaid wartime loan originally intended to stabilize the fledgling nation’s economy. Filed in the U.S. District Court for the District of Columbia, QNB’s request asks the court to treat the International Centre […]
Moroccan Ynna Holding of Chaabi group has joined efforts with Emirati Amea Power Company for the building of 100 MW wind power farm in the Moroccan Saharan Laayoune-Sakia El Hamra region. This project is part of Morocco’s national goal of generating over 52% of its electricity from renewable sources by 2030. It will also help […]
Sudan’s Central Bureau of Statistics has reported a modest easing in the country’s annual inflation rate, which stood at 142.82% in May, down slightly from the previous month. Urban inflation dipped marginally to 146.30%, while rural areas experienced a more pronounced drop to 141.84% from 163.73%. Although the national rate remains alarmingly high, the overall […]
Subsidiary of French bank Société Générale has officially rebranded to Saham Bank, six months after Saham Group completed the acquisition. Société Général sold its Moroccan bank and its insurance subsidiary to Saham Group in 2024, worth 745 million euros. The transaction, which involved the acquisition of 57.67% of SGMB’s capital and voting rights, was first […]
Vice-President of the European Bank for Reconstruction & Development, Mark Bowman, will visit Morocco this June 18 – 20 to discuss with Moroccan officials the Bank’s support for private-sector financing and transition to green economy. During the visit, Mr. Bowman will meet several government officials, members of the business community and sign agreements on new […]
Morocco’s budget deficit widened to 22.9 billion dirhams ($2.3 billion) at the end of May 2025, up from 11.2 billion dirhams a year earlier, the treasury said. The deficit was however offset by a positive balance of 14.1 billion dirhams from special treasury accounts and autonomously managed state services. Total ordinary revenues rose 19.6% year-on-year […]
Tunisia’s economic prospects have taken a hit as the World Bank revised its growth forecast downward, projecting a modest 1.9% expansion in 2025, down from an earlier estimate of 2.2%. The outlook for the following years is even more subdued, with growth expected to slow to 1.6% in 2026 and 1.7% in 2027. The downgrade […]