First Independent Mena Newspaper
Kenyan President William Ruto on Thursday (11 July) fired almost all the ministers in his cabinet, including the attorney general, with immediate effect and promised to form a new government as the current one has struggled with discontent over a cost-of-living crisis and the East African country’s debt. In a televised address, Ruto promised that […]
The African Development Bank has agreed to provide Morocco four loans totaling over €600 million to enable the North African Kingdom build a 105-km long highway, enhance territorial competitiveness, modernize the university, and support sustainable forest development. The agreements were signed Wednesday in Rabat by Minister in charge of the budget Fouzi Lekjaa and the […]
The World Bank has launched a new $2.48 billion program that aims to improve internet adoption rates and infrastructure coverage gaps for more than 180 million people across eastern and southern Africa. The Inclusive Digitalization in Eastern and Southern Africa (IDEA) Program, launched recently, will focus on tackling common digital challenges including low internet coverage […]
The World bank will contribute to the reform of Morocco’s public institutions & enterprises with a $350 million financing. The financing agreement was signed Thursday in Rabat by Minister of Economy and Finance, Nadia Fettah, and Director of the Maghreb and Malta Department of the World Bank, Jesko Hentschel. During the signing ceremony, Nadia Fettah […]
Morocco and the European Union (EU) signed, in Rabat on Wednesday, a 490-million-dirham program to support higher education, research, innovation, and mobility. The program, which marks a notable step in the EU’s educational outreach, supports Morocco’s National Plan for Accelerating the Transformation of the Higher Education, Scientific Research and Innovation Ecosystem (ESRI 2030 Pact), meant […]
The European Bank for Reconstruction and Development (EBRD) on Tuesday reaffirmed its support for Morocco’s energy transition by providing a €13.6 million loan to PROCANEQ, a company set up in Morocco in 2016 to provide mining subcontracting services to OCP Group. The EBRD financing, meant to step up the sector’s green transition, will be used […]
Morocco’s trade deficit narrowed by 1% from January to May to 117 billion dirhams ($11.7 bln), after exports rose to 191 billion dirhams, but still less than imports at 308 billion dirhams. The automotive sector topped Morocco’s exports at 67 billion dirhams, up 12%, auguring well for another record exports this year. Aeronautics was the […]
The International Monetary Fund gave the greenlight for the disbursement of 360 million dollars to Ghana, after the latter reached an agreement with its creditors to restructure its debt. “The authorities’ strategy aimed at restoring macroeconomic stability and reducing debt vulnerabilities is paying off, with clear signs of stabilization emerging,” IMF Deputy Managing Director Kenji […]
Morocco plans to upgrade 25,000 rooms through state-guaranteed loans before 2025, when the country will host the African cup of nations and ahead of the 2030 World Cup, the tourism ministry said. Hotels wishing to apply could receive up to 100 million dirhams ($10 million) in loans, whose interests will be paid by the state, […]
Morocco was ranked the eighth largest recipient of financial flows in renewable energy at 6.2 billion dollars between 2010 and 2021, a new renewable energy agency report said. Most of these financial flows went to solar, followed by wind, said the report, to which the international energy agency also contributed along with the World Bank. […]