First Independent Mena Newspaper
The Board of Directors of the African Development Bank (AfDB) has approved an €84 million funding for the sustainable development of forest areas in Morocco, meant to enhance climate resilience and promote local entrepreneurship. The project meant to support the inclusive and sustainable development of forest areas in Morocco aims to contribute to strengthening the […]
The Board of Directors of the African Development Bank (AfDB) Group has approved funding of €120 million under the Transformation Support Program for a Moroccan Digital, Entrepreneurial, and Inclusive University (UM 4.0). This program, which targets students, higher education teachers, entrepreneurs and young graduates, aims to contribute to the development of human capital and the […]
Morocco will earmark 1 billion dollars to buy new buses in different Moroccan cities as part of a 2024-2029 urban transport modernization plan, the interior minister Abdelouafi Laftit said. In total, Morocco would need 3500 new buses in 32 cities as part of an investment that also includes the upgrade of ticket machines and stations, […]
Ghana signed a memorandum of understanding with bilateral creditors, including France and China, to restructure $5.4 billion worth of debt. The deal was seen as a prerequisite for unlocking $360 million from the IMF under a $3 billion bailout program next month. Ghana was the second African country to default on its debt following Zambia […]
Morocco’s experience in integrating fiscal and monetary policies to manage shocks and build resilience was highlighted during the joint annual meetings of Arab financial institutions, held in Cairo on Thursday, Minister of Economy and Finance, Nadia Fettah, who was speaking at a panel on “Financial sector policies for managing shocks and building resilience under uncertainty” […]
Morocco is set to take advantage of its improving macroeconomic situation by tapping into the bond market, more than a year after its successful $2.5 billion bond, Nadia Fettah Alaoui said. The bond would strengthen state finances and help cut the deficit, Fettah Alaoui told Bloomberg. “We are constantly monitoring the market.” “We do not […]
Moroccan banks operate in 30 African countries where they generate 23% of their revenue, Moroccan central bank governor Abdellatif Jouahri said while speaking about investments by Moroccan firms in the continent. Speaking at an event on the Atlantic initiative, launched by King Mohammed VI to bolster regional integration, Jouahri highlighted the monarch’s win-win approach in […]
Côte d’Ivoire, the world’s top cocoa producer, has risen to the top spot as the best-rated sovereign in sub-Saharan Africa with foreign debt outstanding, overtaking South Africa, according to the latest S&P Global Ratings. While both countries maintain their BB- ratings by S&P Global Ratings, Côte d’Ivoire shifted to positive on what the ratings company […]
The economy of Guinea Bissau remains highly dependent on Cashew nuts, whose exports dropped significantly last year depriving the country of much needed revenue to diversify the economy and curb poverty, the World Bank said. “While cashew production reached 260 thousand tons, the highest production yield on record, only 170 thousand tons were exported by […]
USAID chief Samantha Power has announced the launch of a new initiative destined to help Moroccan vulnerable cooperatives and entrepreneurs in rural areas adapt to climate change, grow their economic activities, and build resilience to climate shocks and water scarcity. The announcement of the new Cooperative Resilience Program was made by Smantha at the Mohammed […]