First Independent Mena Newspaper
Head of the Moroccan government Aziz Akhannouch defended the achievements of his government at half-term, focusing on social projects including direct subsidies, mandatory health coverage, and the reform of the health and education sectors. Akhannouch-led government has come under fierce criticism by the opposition which decry a surge in unemployment and a lack of communication […]
Africa’s most populous nation is eying a $2 billion World Bank loan to help address pressing challenges and back up hard currency reserves, the government said. The country qualifies for the financing and has the support of other regional banks such as the African Development Bank, Nigerian finance minister Wale Edun said on the sidelines […]
The small African nation of Burundi is appealing for aid to help address the havoc left by floods that affected hundreds of thousands. The Burundi government estimates the floods have affected 203,944 people, with 19,250 homes and 209 classrooms destroyed. The number of people internally displaced by flooding rose by 25%, reaching over 98,000, according […]
Morocco’s phosphates and fertilizers giant, OCP, plans a bond issue ranging between $1.5 billion and $2 billion as it launched major investments in renewable energies, desalination, green hydrogen, and ammonia. The news, relayed by Medias24 and major news agencies, marks the first bond by OCP since it announced an ambitious growth strategy of about $12 […]
Sub-Saharan Africans’ income is further decreasing compared to the rest of the World amid a lackluster economic growth, the International Monetary Fund Said. Amid a surge in geopolitical conflicts and climate change devastating impacts, Sub-Saharan African economies would only grow by 3.8% this year, up from 3.4% in 2023, the IMF said in a report. […]
Africa has seen a rise in its number of billionaires and its millionaire population is set to rise by 65% over the next 10 years, but at the same time, about 18,700 high-net-worth individuals have left the continent between 2013 and 2023, the 2024 Africa Wealth Report reveals. Published by Henley & Partners, an international […]
The IMF said Morocco’s economic growth would pick up slightly to 3.1% this year and 3.3% next year, forecasting a return of inflation to pre-pandemic levels. Inflation would stand at 2.2% this year and 2.5% next year, in line with central bank forecasts, the IMF said in its April global economic outlook. Algeria’s growth would […]
China National Petroleum Corporation (CNPC) agreed to offer a loan of 400 million dollars to the Niger government, which is struggling with the impact of sanctions. The loan is seen as one of the first steps to wean financial dependence on the West, with whom the military rulers are increasingly at odds, going as far […]
A Bloomberg report on a poll showing a drop in ANC popularity ahead of the upcoming elections was enough to plunge South Africa’s currency, the Rand. The poll revealed that corruption-plagued ANC will face its first-ever electoral test since apartheid due to a surge in support for former president Jacob Zuma and his uMkhonto Wesizwe […]
Morocco’s economic growth stood at 2.9% in the first three months this year, despite drought that undermined agricultural production. Led by domestic demand, non-agricultural growth was at 4% the same period thanks to the industrial sector and services, the high commissioner for planning said in a report. Rainfall was 42% lower compared to last year […]