First Independent Mena Newspaper
The DRC, Kenya and Uganda have been ranked by the latest edition of the Africa Risk-Reward Index 2024 as the riskiest investment destinations in East Africa, largely blamed on political, social and economic threats, while Rwanda stands out as the safest investment destination in the region. This authoritative report has been recently launched by the […]
The International finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), both members of the World Bank Group, have partnered with Tanger Med Port Complex, the leading industrial port complex in the Mediterranean, to expand the truck and passenger terminal and strengthen Morocco’s strategic position as a hub for regional and global trade, IFC […]
The World Bank is collaborating with Senegal to address severe flooding in the Senegal River Valley, exacerbated by exceptional rainfall and the influence of the Manantali and Diama dams. In this vein, the World Bank has stepped in with 1.149 billion FCFA through the Senegal River Valley Development and Resilience Project, the organization announced. The […]
The International Monetary Fund (IMF) has projected that Libya will lead the Arab world in economic growth by 2025, anticipating an impressive growth rate of 13.7%. According to a recent report from the IMF, Libya’s economic growth is expected to escalate from a modest 2.4% in 2023 to this remarkable figure in 2025, positioning the […]
Norway, South Korea, the United Kingdom, and the United States have officially launched a multi-donor “fund of funds”, known as FASA, whose aim is to address the financing challenges faced by agricultural small and medium-sized enterprises (agri-SMEs) across Africa. Over the next 10 years, the “Financing for Agricultural Small and Medium Enterprises in Africa” Fund, […]
Saudi Arabia promised $41 billion worth of investments in Sub-Saharan Africa, Saudi finance minister Mohammed bin Abdullah Al-Jadaan said. The investments include a $1 billion development program for Africa, $5 billion for startups from the Saudi Development Fund over the next decade, and $10 billion in financing from the Saudi Export-Import Bank. Additionally, private sector […]
Sweden has joined the Netherlands and Luxembourg in making a significant contribution to Africa’s financial development, pledging 50 million Swedish crowns ($4.8 million) to the African Development Bank’s Capital Market Development Trust Fund (CMDTF). This investment, channeled through Sweden’s International Development Agency, aims to strengthen and integrate Africa’s regional financial markets. The initiative serves multiple […]
The Financial Action Task Force (FATF), a global financial crime watchdog, has included Algeria in the list of money laundering & terrorism financing countries. The FATF has made the decision during its plenary meeting held lately in Paris with the participation of delegates from the FATF’s Global Network of over 200 jurisdictions and observers from […]
The IMF expects the Sub-Saharan African economy to grow by 3.6% in 2024 and 4.2% in 2025, noting that growth remains “subdued and uneven.” Resource-intensive countries continue to grow at about half the rate of the rest of the region, with oil exporters struggling the most, the IMF said in its regional economic outlook. “Factors […]
The draft budget for 2025 provides for an array of measures to curb the impact of imported inflation on the citizens’ purchasing power, including wage hikes, cancelation of VAT and customs duties on some basic foodstuff, and subsidies. Under the new budget, monthly salaries lower than 6000 will be exempted from the income tax, while […]