First Independent Mena Newspaper
Kenya prepares to re-introduce an amended version of the eco-levy tax that has been at the heart of popular discontent that plunged the country into violent protests this summer. Treasury Secretary John Mbadi told local media that “about 49 measures” were being considered as part of a tax amendment bill. Some of the scrapped taxes […]
The Central Bank of Libya (CBL) said on Sunday August 18 that it had suspended all operations in the country, after one of its employees was “kidnapped” by unidentified individuals. “The Central Bank of Libya condemns the kidnapping of the Director of the Information Technology Department, Musab Musallam, by an unknown person in front of […]
Discussions among the BRICS member countries continue over the formation of a united currency that would facilitate trade between BRICS nations and decrease reliance on the ‘greenback’, though whether this ambitious plan succeeds is far from certain, many analysts say. In May, BRICS member countries India and Nigeria announced they had officially signed an agreement […]
The Moroccan government is preparing the 2025 budget based on expectations of an economic growth at 4.6% and a budget deficit of 3% of GDP, as it continues to attach priority to social safety nets, investments and employment. This came in the directive of the head of the government regarding the priorities of next year’s […]
The United States said it will offer the DR of the Congo $414 million to help the country address its worsening humanitarian crisis. The DRC is a vast country where at least a quarter of its population depends on humanitarian aid, notably in the war-torn east, where rebel groups have taken vast sqathes of territory. […]
France retained its position as the first source of foreign direct investments in Morocco in 2023 with 680 million dollars, compared with 380 million a year earlier, Morocco’s foreign exchange office said. French investments represented 61% of overall investments in Morocco last year, the office said in a report. The UAE came second with investments […]
African start-ups recorded an impressive fundraising performance in July 2024, raising $420 million, the highest monthly figure since the tracking began in 2019, according to a recent report by Africa: The Big Deal. This sum also represents 2.5 times the average monthly amount raised over the past one year, signaling a strong rebound in investment […]
The Moroccan government is preparing the 2025 appropriation bill based on a forecast of 4.6% growth rate, from an estimated 3.3% this year, the finance minister said. The government will press ahead with its social project, which includes generalization of safety nets and financial assistance to the needy, in addition to investing in infrastructure and […]
Morocco’s central bank is expected to take more monetary easing steps in the second half of this year by cutting the benchmark rate to 2.25% from 2.75% currently, Fitch Solutions said. “We forecast that BAM will cut its policy rate in another two steps of 25bps in September and December 2024, to 2.25% by end-year […]
King Mohammed VI, accompanied by Crown Prince Moulay El Hassan and Prince Moulay Rachid, received, on Monday at the Royal Palace in Tetouan, Abdellatif Jouahri, Governor of the Central Bank (Bank Al-Maghrib), who presented to the Sovereign the Bank’s annual report on the economic, monetary, and financial situation for the 2023 financial year. In his […]