First Independent Mena Newspaper
Morocco’s centuries-old rotating savings system, known locally as “daret” or tontine, is undergoing a digital transformation aimed at addressing the financial exclusion affecting 53 percent of the country’s adult population. The new mobile application, developed by former French banking executives Nabil Chakir and Mourad Chokeir, seeks to modernize this informal financial practice while preserving its […]
The Asian Infrastructure Investment Bank (AIIB) has approved a $200 million loan to support Morocco’s resilience efforts to mitigate the social and economic impacts of climate change. The loan is part of a co-financing programme with the World Bank, which has already committed $350 million. The funding will enable Morocco cut greenhouse emissions, carry out […]
British financial technology powerhouse Revolut is positioning itself to disrupt Morocco’s traditional banking sector, with regulatory approval applications submitted to Bank Al-Maghrib signaling imminent market entry into North Africa’s growing digital economy. The London-based neobank, valued at approximately 41 billion euros with nearly 60 million global customers, has appointed its first Morocco country director and […]
Africa is hemorrhaging over $580 billion every year through corruption and illicit financial outflows, according to the African Development Bank (AfDB), jeopardizing economic growth and worsening the continent’s nearly $2 trillion debt crisis. AfDB President Akinwumi Adesina, speaking in a recent Bloomberg interview, likened the situation to pouring water into a leaking bucket — “It […]
Morocco’s National Railway Office (ONCF) has secured a $225 million loan from German development bank KfW to modernize Casablanca region railway network. The German funding follows a $350 million loan approved by the World Bank in June, both supporting the “Service Intra-métropolitain Rapproché” (SIR) program. The SIR seeks to establish an electrified passenger rail service, […]
IBA Group, a multinational software service provider and Berexia payment, a leading technology services company, have joined efforts to launch SoftPOS solution in Morocco in cooperation with Al Barid Bank and Royal Air Maroc (RAM). SoftPOS, or Software Point of Sale, is a software-based solution that turns any NFC-enabled smartphone or tablet into a secure […]
Libya’s Speaker of Parliament Aguila Saleh met with Central Bank Governor Najee Issa and his deputy Marai al-Barassi in Benghazi on Wednesday, August 20, to discuss planned economic reforms and monetary policy. The talks, attended by Deputy Speakers Fawzi al-Nuwairi and Misbah Douma, centered on tackling the country’s ongoing liquidity crisis and advancing electronic payment […]
Tunisia was flagged among four other African nations by the International Monetary Fund (IMF) for prolonged delays in completing their mandatory Article IV consultations. The other African nations are: Sudan, Eritrea, Liberia, and Senegal, among 13 member states globally. Article IV consultations are annual economic assessments conducted by IMF staff to evaluate a country’s macroeconomic […]
African startups achieved a two-year funding record in July 2025, raising $550 million across 61 deals worth at least $100,000 each, with Morocco emerging as a notable contributor outside the traditional “Big Four” markets. The exceptional performance was driven primarily by two Kenyan energy giants: d.light securing $300 million and Sun King raising $156 million. […]
The Arab Monetary Fund has forecast Libya’s economy to expand by 14.3% in 2025, before moderating to 5.9% the following year, contingent on improved domestic stability and stronger investor confidence. In its latest Arab Economic Outlook report released this week, the Fund attributed the robust growth outlook to the hydrocarbons sector, which provides over 95% […]