First Independent Mena Newspaper
President Kais Saied urged lawmakers to end the independence of the monetary policy in the country by adopting a law that would allow the treasury to borrow directly from the central bank. The move is the latest in a series of moves to concentrate all powers in his firm grip, after he sapped the democratic […]
The Court of Appeal in London has upheld a ruling on a property in the capital linked to the late Libyan leader Muammar Gaddafi. The court sided with a US defense contractor in its bid to collect a £16 million award issued by the International Criminal Court (ICC) against the Libyan State. The dispute centers […]
Africa is set to establish its own credit rating agency by June 2025, marking a significant shift in how the continent’s economies are evaluated. The Africa Credit Rating Agency (AfCRA) aims to provide more nuanced sovereign ratings by incorporating local contexts often overlooked by traditional agencies like Moody’s, Fitch, and Standard & Poor’s. This initiative […]
The Libyan Audit Bureau has granted approval for the distribution of family support grants for the fourth quarter of 2024, following a thorough examination of data provided by the Ministry of Social Affairs. The total amount authorized for disbursement is $2.3 billion (1.15 billion Libyan dinars). The funds are set to benefit thousands of individuals, […]
African leaders and business executives, at the World Governments Summit in Dubai, sought to strongly challenge the persistent myths about investment risks in Africa. Speaking in one of the panels, Akinwumi Adesina, president of the African Development Bank (AfDB), presented data revealing that Africa’s risk profile is far lower than commonly believed, with a loss […]
Germany is backing Morocco’s green hydrogen production with a $32 million (€30 million) investment in OCP Group’s green hydrogen plant in Jorf. The funding by the German PtX Development Fund is intended to support sustainable fertilizer manufacturing, according to German media reports. The PtX Development Fund, endowed with a budget of €270 million, is initiated […]
As the African crypto-currency industry navigates a pivotal period of growth, crypto providers will have to address three critical challenges, including security threats, technology capabilities, and regulation, in order for the industry to succeed in 2025, says a new State of the Crypto Industry 2025 report. The Sumsub’s newly released report, which provides an in-depth […]
The International Monetary Fund (IMF) commended Morocco’s tax reforms which enabled an enlargement of the tax base, narrowed the fiscal deficit and helped finance key reforms. “As a result, tax revenues in 2024 have been greater than expected. With only a small part of the additional tax revenues being saved, the central government’s deficit for […]
The European Bank for Reconstruction and Development injected 38.4 million euros-via a green bond issuance- in Moroccan rail operator ONCF, as the latter expands its network. “Issuing the bond will partially refinance the debt from ONCF’s latest development round designed to modernize and electrify the network; acquire and upgrade electric rolling stock; address safety units […]
Egypt’s urban inflation rate has experienced a slight reduction for the fourth consecutive month, falling to 24% in January, according to the Central Agency for Public Mobilization and Statistics (CAPMAS) on February 10. This marks a modest decline from the 24.1% recorded in December 2024. On a year-on-year comparison, inflation has dropped by 0.8 percentage […]