First Independent Mena Newspaper
Morocco’s central bank, Bank Al-Maghrib (BAM), has published this week the first version of its practical guide on the fight against money laundering and the financing of terrorism (AML-CFT). This guide, which is part of efforts to raise public awareness about the risks of money laundering and terrorism financing, explains what money laundering and terrorism […]
Nigeria has become the 77th shareholder in the European Bank for Reconstruction and Development. The Bank’s board of governors approved Nigeria’s membership after it amended its laws to expand incremental funding to Sub-Saharan Africa, the bank said in a statement. Through this membership, Nigeria hopes to benefit from EBRD funding, which is yet to be […]
France has offered Morocco 781 million euros to purchase 18 high-speed trains made by Alstom, as the country develops its rail networks in preparation for the 2030 World Cup. The deal is part of the 168 trains Moroccan operator ONCF said it picked as it expands the high-speed train network south to Marrakech while extending […]
The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to launching the Eco currency by 2027, a key step in advancing regional economic integration and financial stability. The ambitious currency project, which aims to unify the economies of 15 West African countries, was discussed at the recent 11th ECOWAS Convergence Council meeting […]
The United Nations World Food Programme (WFP) has announced on Tuesday March 4 a critical funding gap of $412 million for 2025 to address the urgent humanitarian needs in South Sudan. The WFP stressed the importance of securing funds for essential food and nutrition aid, prepositioning supplies before the onset of the rainy season in […]
The Tunisian economy continues to reel under the impact of the President Kais Saied’s power grab. The country is expected to be the least performer in the southern Mediterranean region, compared to its peers, the European Bank for Reconstruction and Development (EBRD) said. While the region’s economic growth is expected to stand at 3.7% in […]
Growth in Morocco is expected to increase from 3 per cent in 2024 to 3.6% in 2025 and 3.4% in 2026 as structural reforms yield positive results, according to the projections issued Friday by the European Bank for Reconstruction and Development. In its latest Regional Economic Prospects report, the Bank said Morocco’s manufacturing and construction […]
In a bid to alleviate the burden of rising living costs on citizens, the Egyptian government has announced a substantial EGP 200 billion social support package, which will be implemented during Ramadan and extended into the upcoming fiscal year. Prime Minister Mostafa Madbouly revealed the details of the new initiative on Wednesday February 26, which […]
Attijariwafa Bank reported a 26.6% increase in its annual 2024 net profit to 950 million dollars, amid an expansion of activity in Morocco and in African subsidiaries. The bank reported an 8% increase in loans to the economy in Morocco, raising its market share to 28.1% from 26.9% in 2023, it said in a statement […]
Sub-Saharan Africa remains the world’s most expensive region when it comes to transferring remittances, with an average cost of transferring money of 8.37% in the second quarter of 2024, according to the World Bank’s most recent report. This cost remains significantly above the global average, despite the increasing importance of remittances in the region’s economies. […]