First Independent Mena Newspaper
The African Development Bank has provided Morocco’s OCP Group three loans totaling 188 Million U.S. dollars for green projects planned by the world’s leading producer of phosphate fertilizers. The loan agreements were inked Monday in Rabat by Ousmane Fall, director of Industrialization & Trade Development at AfDB and Karim Lotfi Senhadji, OCP Chief Financial Officer […]
Senegal joins other African countries like Nigeria or Namibia that have struggled to manage their oil and gas resources discovered in recent years for the real benefit of the people, including by improving the energy situation at home. The oil and gas finds in Africa have rarely lived up to their promise, often doing more […]
Germany’s Power-to-X Development Fund has unveiled a significant €270 million grant opportunity aimed at enhancing hydrogen production in select countries, including Morocco, South Africa, Kenya, Egypt, Brazil, Georgia, and India. This initiative, launched in 2023 and supported by the German Ministry of Economic Cooperation and Development, represents a crucial step toward advancing green hydrogen industries […]
The European Investment Bank has provided €115 Mln loan to MEDZ, subsidiary of CDG Group, for the expansion and modernization of ten technopoles located in five regions of Morocco. The funding supports the country’s advanced regionalization policy and its New Development Model and is in line the EU’s Mediterranean Agenda on resilience and climate transition, […]
Economists warned Tunisia could plunge into an inflationary spiral if the central bank accepts direct financing of the state budget. Inflation was already at 8.1% in December and is expected to further raise and take a monetary character if the central bank accepts direct funding of the government. Tunisia’s president Kais Saied has asked for […]
Governments of highly indebted African countries need to take a number of steps to alleviate the stark trade-offs between servicing expensive debt, supporting high and growing development needs, and stabilizing domestic currencies. While South Africa’s elevated public debt at 74% of GDP has almost doubled over the last decade, Kenya’s debt interest payment as a […]
The International Finance Corporation (IFC) will help Crédit du Maroc Bank facilitate the development of small and medium-sized enterprises (SMEs), women’s entrepreneurship, and green projects with a $100 million financing package. This agreement is in line with IFC’s strategy in Morocco, which aims to support private sector-led economic growth and job creation by promoting the […]
The U.S. Agency for International Development (USAID) has announced $12.6 million funding in support for Morocco’s post-earthquake recovery efforts. After the deadly Al Haouz earthquake of Sept.8, Morocco, under the leadership of King Mohammed VI, set out an ambitious five-year plan for “integrated reconstruction and general upgrading of the affected regions” that focuses on a […]
Japan’s international Cooperation Agency, JICA, has provided Burkina Faso with $1.3 million destined to finance acquisition of equipment to be used in the maintenance of roads in the West African country. Burkina Faso’s top diplomat Karamoko Jean-Marie Traore signed the grant deal with JICA local resident Keiichi Okitsu. Traore said that the agreement will give […]
Japan will provide Côte d’Ivoire with equipment worth €5.3 million to support the West African country’s national plan to grow rice and consequently reduce its dependence on importation. Ivorian Minister Finance Adama Coulibaly and country presentative of Japan International Cooperation Agency (JICA) Usui Yukichi signed last week the equipment financing. The West African country plans […]