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Category: Finance
Russia, India to move away from US dollar in their trade exchanges with Africa
Trade exchanges between Russia and Africa should move away from the US dollar and be facilitated by transition to national currencies, Russian President Vladimir Putin ... Read More
Morocco’s Central Bank raises key interest rate to 3% to mitigate inflation
Morocco’s Central bank decided on Tuesday to lift its rates by 50 basis points to 3 percent to counter inflationary pressures exerted both at the ... Read More
Nigeria launches $672mil tech fund to cushion its start-ups after US bank collapse
The closure of three key banks in the United States has taught Nigeria tough lessons, prompting Africa's biggest economy to launch a $672 million fund ... Read More
Egypt-based online payment service Fawry denies connection with Silicon Valley Bank
Egypt's leading e-payments solutions provider Fawry denied Monday any affiliation with Silicon Valley Bank (SVB), nor any of its subsidiaries, weeks after US authorities ordered ... Read More
EU, France pledge €50m investment in DRC’s infrastructure, mining sector
The European Union has launched an initial mobilization of €50m in Democratic Republic of Congo’s (DRC) critical minerals sector and infrastructure projects on the sidelines ... Read More
Hostility to Morocco reveals financial illiteracy of Algerian media
A pathological fixation on Morocco has been ongoing in Algerian media at the instigation of a military-run regime that made attacking Rabat its daily tactic ... Read More
Morocco’s economic, financial stability attracts investors- minister
Thanks to its sound economic and financial fundamentals, Morocco has fostered its attractiveness to foreign investors, while receiving preferential terms from international financial organizations. Within ... Read More
World Bank suspends partnership with Tunisia due to racism
The World Bank said it halted cooperation with Tunisia after a surge in racism in the country triggered by anti-migrant speech by its president. President ... Read More
IMF intends to offer Morocco $5 bln credit line
The International Monetary Fund intends to approve Morocco’s request for a 5 billion-dollar Flexible Credit Line (FCL) during a meeting of its executive board meeting. ... Read More
African economies to remain resilient despite financial headwinds — AfDB report
Despite the tightening global financial conditions, African economies are expected to remain resilient with a stable outlook in 2023-2024, according to a report by the ... Read More