First Independent Mena Newspaper
Moroccan state-owned OCP Group and Italian SACE group have agreed to a €365 million green financing facility, the first of its kind under OCP’s Green Finance Framework and the first guaranteed by SACE Push Strategy in Morocco. This strategic partnership reinforces OCP’s commitment to sustainability and innovation in plant nutrition solutions. SACE, Italy’s insurance and […]
The IMF urged African and other emerging economies to develop domestic financial markets to reduce reliance on volatile external borrowing. In its April 2025 Global Financial Stability Report, the IMF warns that high real interest rates globally have made external financing more expensive and less accessible, especially for frontier markets in Africa. Tunisia was identified […]
Algeria is reportedly seeking a $3 billion loan from the Islamic Development Bank (IsDB) to finance a major railway infrastructure project. The loan is still pending approval by the bank’s governing board, which includes key stakeholders such as Saudi Arabia and the United Arab Emirates, countries whose diplomatic ties with Algeria have been strained in […]
Oil-rich but war-torn Libya is teetering on the edge of a fuel supply crisis, with more than $1 billion in unpaid dues for imported fuel threatening to disrupt deliveries and deepen the country’s economic woes. The state-owned National Oil Corporation (NOC) has warned that international suppliers are growing increasingly reluctant to continue shipments without payment […]
Morocco’s National Office of Electricity and Potable Water (ONEE) has secured €300 million in financing from European institutions to modernize the country’s electrical infrastructure, marking a significant step in the kingdom’s renewable energy transition. The funding package combines €170 million from the European Investment Bank (EIB), €130 million from Germany’s KfW development bank, and support […]
The United Nations announced Thursday, May 22 that it has allotted $10 million to South Sudan, to provide over 270,000 people with life-saving humanitarian aid. The UN Central Emergency Response Fund (CERF) aid will be used to support communities in six high-risk counties, according to the UN Office for the Coordination of Humanitarian Affairs (OCHA). […]
Morocco will allocate 3 billion dirhams this year and 3.2 billion next year, or a total of 670 million dollars to restore its national herd, including through financial support to farmers, agriculture minister Ahmed El Bouari said. Under this program, the government will earmark 700 million dirhams to restructure and cancel debt owed to 50,000 […]
The US has scaled down its aid to Africa but kept supporting and funding for the Lobito corridor which will give its industry access to rare minerals, key to the energy transition. The Lobito Corridor is a major trans-African infrastructure project designed to connect the mineral-rich regions of the Democratic Republic of Congo (DRC) and […]
Severe austerity measures imposed by international financial institutions on some of the poorest African countries led to public spending cuts, which affected the wages of teachers and health workers in particular, ActionAid said. Teachers across Africa are bearing the brunt of austerity, losing up to 50% of their real income over five years, while nearly […]
The Moroccan government, electricity and water supplier ONEE together with a consortium including Mohammed VI Investment Fund, TAQA Morocco and Nareva agreed to join forces to develop a sweeping infrastructure program aimed at securing water and bolstering energy production by 2030, for a total investment cost estimated at $14 billion. The investments have been ushered […]