First Independent Mena Newspaper
Senegal’s new president, Bassirou Diomaye Faye, is walking a financial tightrope. Just five months into the job, he has called for snap elections on November 17, dissolving the opposition-led parliament. But this political shake-up could not come at a trickier time for the economy. The numbers are not looking great. Economic growth has slowed to […]
Libya’s Central Bank (CBL) has stabilized operations and reestablished ties with international banks, according to Asim Al-Hajjaji, Director of Compliance. Speaking to Italy’s Nova news agency on September 15, Al-Hajjaji highlighted the bank’s focus on aligning with global regulations and improving transparency. Key efforts include strengthening internal operations and implementing strict measures to combat money […]
Egypt’s wheat imports significantly increased in the first half of 2024, rising to $2.324 billion from $1.785 billion in the same period of 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). Wheat remains a crucial staple food for the country, contributing to the overall rise in raw material imports, which reached […]
IFC has granted a €100 million loan to OCP Group, contributing thus to complete the desalinated water pipeline to connect Jorf Lasfar to Khouribga, whose construction is progressing well and is expected to be completed soon. The loan will support the construction of a 219 km pipeline and a new pumping station The infrastructure will […]
The African Development Bank approved a loan of 102.7 million dollars to help Togo farmers boost their resilience to climate change and foster sustainable agricultural practices. The funding also aims at helping farmers reduce greenhouse gas emissions and provides support for small irrigation systems covering at least 39,179 ha, in addition to the provision of […]
Senegal’s Prime Minister Ousmane Sonko revived last week a proposal to create a bank dedicated to the Senegalese diaspora. This initiative aims to channel the significant funds sent home by Senegalese expatriates into impactful and sustainable projects, reported Ecofin agency. The diaspora sends over $2.9 billion annually to Senegal, representing about 12% of the country’s […]
Libya’s Central Bank (CBL) Acting Governor, Abdul Fattah Ghaffar, held a pivotal meeting with Oil and Gas Minister Khalifa Abdul Sadiq and National Oil Corporation (NOC) Acting Chairman Masoud Suleiman. The meeting’s venue was the Central Bank headquarters in Tripoli, medias reported on September 10. The purpose of this high-level discussion was to explore strategies […]
On Monday September 9 in Nouakchott, Khaled Abidine Sidi, Secretary General of the Ministry of Digital Transformation and Modernization of Administration, met with a delegation from the World Bank Group led by Ousmane Diagana, the Bank’s Vice President for West and Central Africa. In his remarks, Sidi highlighted that the meeting centered on enhancing cooperation […]
Ghana has extended an invitation to holders of approximately $13 billion in international bonds to exchange their holdings for new instruments. This offer follows a preliminary restructuring agreement with two bondholder groups. The deadline for the offer is September 30, with an early deadline of September 20 offering a 1% consent fee for early participants. […]
Libya’s rival factions agreed to appoint a new central bank governor after the former chief left the country under pressure from militias. The Libyan infighting between the West and East governments spilled over to the Central Bank last month forcing suspension of its activity and jeopardizing the country’s monetary regulator. The House of Representatives based […]