First Independent Mena Newspaper
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 […]
The Algerian regime has failed to fulfil its promise of raising the tourist currency allowance from a meager 106 euros to 750 euros. The promise was made by Tebboune who has turned Algiers into the capital of illusion, following his repetitive blunders. Tebboune, with a theatrical flair, pledged to increase the tourist allowance, in an […]
On Tuesday, European Union announced the removal of the United Arab Emirates from its “high-risk” list for money laundering. In addition to the UAE, the EU also delisted Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, and Uganda. At the same time, Monaco was added to the list along with nine other countries. According to the […]
The World Bank has approved a $350 million financing package for the Greater Casablanca Mobility & Logistics Hub, which aims to improve services for passenger railways in the Greater Casablanca area. The funding will also support Morocco’s national railway operator – Office National des Chemins de Fer (ONCF) – in managing and expanding railway infrastructure. […]
Africa’s energy investment landscape is undergoing a dramatic shift as China’s once-dominant role in fossil fuel infrastructure gives way to diversified, cleaner, and more commercially driven models. According to the International Energy Agency (IEA), Chinese development finance for African energy projects has plummeted by over 85% since 2015, contributing to an overall drop in public […]