First Independent Mena Newspaper
In a strategic move to reduce global reliance on the U.S. dollar, China has welcomed six new financial institutions from Africa, the Gulf, and Central Asia into its Cross-border Interbank Payment System (CIPS). The expansion, announced during a ceremony in Shanghai, brings direct participation in the yuan-based payment network to 174 institutions, as China steps […]
Algeria is entering a phase of deepening financial isolation following its inclusion on the European Union’s updated list of high-risk countries for money laundering and terrorism financing. While the blacklisting was formalized on June 10, 2025, its consequences are now materializing across Algeria’s already fragile financial system, exposing long-standing structural weaknesses. The EU’s decision, aligned […]
The International Finance Corporation has agreed to provide Maroc Telecom two loans totaling €370 million to enable the Moroccan telecom group support its subsidiaries in Chad and Mali. The IFC funding will help to enhance mobile connectivity and improve the quality of mobile internet. It will also support the rollout of 4G services, bringing faster, […]
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 […]