First Independent Mena Newspaper
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 […]
Morocco’s state-owned rail operator ONCF raised $200 million via a green bond that was five times over-subscribed with a total demand reaching $1 billion. The bond was part of ONCF’s green push, as it plans to expand the national rail network. The four-tranche bond had maturities ranging from 10 to 15 years at rates varying […]
Algeria costs annually France over 9 billion Euros, which represent more than the budget of the French ministry of agriculture and three times the budget of the French Overseas Territories. These outrageous figures have been disclosed by French deputy Sarah Knafo saying “the French taxpayers pay annually over €9 billion to Algeria, an oil-gas producer […]
In a significant move, the President of Tunisia dismissed Sihem Boughdiri from her position as Finance Minister on Wednesday February 5, appointing Michkat Khaldi, a prominent judge, as her replacement. Khaldi, who took the official oath at Carthage Palace, assumes the role at a time when the country’s economic situation is dire. Boughdiri, who had […]
The sudden halt in USAID funding by US president Donald Trump has sparked a growing crisis for non-governmental organizations (NGOs) and healthcare workers across Africa, who are now scrambling to cope with the financial and logistical fallout. The US Agency for International Development (USAID) last week announced the suspension of its programs in several African […]
The Kremlin has announced the expansion of the list of “friendly and neutral” African countries whose banks may now trade currencies and derivatives in Russia. By adding Nigeria, Tunisia and Ethiopia to the list, “the number of friendly and neutral countries whose credit institutions and brokers will be allowed to trade on the Russian foreign […]
The ongoing development projects in Morocco meant the country had to import more equipment and semi-finished products in 2024, leading to an expansion of the trade deficit by 7.3% at 300 billion dirhams ($30 bln). Imports at $76.1 billion outweighed exports at $43 billion, the foreign exchange regulator said. Morocco’s leading exports were cars and […]
African nations struggling with mounting international debt are about to get a lifeline. The African Development Bank’s new refinancing facility isn’t just another bureaucratic solution – it’s potentially a financial game-changer for the continent. The initiative, dubbed The African Financial Stability Mechanism, stands ready for launch after clearing its final hurdles. All that’s needed now […]
As many African countries are struggling to service their debts, a new World Bank report warns that interest payments on long-term debt in sub-Saharan Africa surged nearly seven-fold to $26 billion between 2010 and 2023. The sharp increase came as the region’s foreign borrowing doubled to $864 billion within the same period. Africa’s worsening debt […]