First Independent Mena Newspaper
The World Bank approved the “DREAM” project, a major initiative aimed at supporting the development of energy resources and the mineral sector in Mauritania. With a funding of $82.5 million, the project is set to enhance the country’s energy infrastructure by developing electricity storage systems, advancing battery technology, and fostering the growth of green hydrogen. […]
Morocco has sold 2 billion euros in a dual-tranche bond split into four and ten years, as demand exceeded the offer, Bloomberg and Global Capital reported. Morocco gathered some 7 billion dollars in orders for the bond sale, highlighting the attractivity of the country for global investors. The bond would boost the government’s finances as […]
The American rating agency Moody’s confirmed, during its periodic review in March, the Ba1 rating assigned to Morocco, with a stable outlook. This decision highlights the Kingdom’s ability to maintain its macroeconomic stability despite ongoing challenges, such as slowed economic growth and increasing public debt, writes the magazine Challenge. In its report, Moody’s emphasizes the […]
The China Civil Engineering Construction Corporation (CCECC) has committed to investing $1.4 billion to revitalize the Tanzania-Zambia Railway Authority (TAZARA), a critical transport route for copper exports in Central Africa. The deal, announced at the recent Zambia International Mining and Energy Conference (ZIMEC 2025), aims to improve infrastructure and operations along the aging railway. Under […]
Ethiopia’s parliament has enacted a sweeping tax reform targeting both private and public sector employees to fill the financial void created by USAID’s recent funding suspension. The newly established Ethiopian Disaster Risk Response Fund will channel these tax revenues toward critical projects previously sustained by USAID, which had been Ethiopia’s foremost development and humanitarian partner. […]
The World Bank has approved a $600 million financing package for the last and third phase of the “Strengthening Human Capital for a Resilient Morocco” program. The funding aims to enhance Morocco’s resilience to health risks, improve human capital during childhood, reduce poverty among the elderly, and bolster climate risk management, said the WB in […]
Experts at a recent 57th Conference of African Ministers of Finance emphasized the need for African governments to prioritize local currencies for trade and transactions. Hanan Morsy, chief economist of the UN Economic Commission for Africa, highlighted that reducing reliance on the U.S. dollar would protect Africa’s economies from external financial shocks. Africa’s use of […]
The European Bank for Reconstruction and Development (EBRD) has announced a loan of €110 million to support the development of an economic zone within the Nador West Med industrial port complex, located in Morocco’s Oriental region. This is the Bank’s third investment in the Nador West Med complex, following the provision of financing in 2015 and […]
Nigeria is preparing a new law that would make crypto assets legal in the country, ending years of ambiguity and legal void. Under the new law, a crypto asset is defined as “a digital representation of value that can be transferred, digitally traded and used for payment or investment purposes.” The new legislation will end […]
The International Monetary Fund greenlighted on Tuesday the release of $496 million for Morocco under a Resilience and Sustainability Facility (RSF) to help the north African country address climate challenges. The new funding brings the total disbursement of the IMF under the RSF to about $1.24 billion. The IMF had approved a $1.32 billion loan […]