First Independent Mena Newspaper
Morocco’s economic growth is expected to reach 2.4% in Q1-2024, marking a decline from the +3.5% growth recorded during the same period the previous year, according to the economic growth projection of the statistics office, le Haut-Commissariat au Plan ((HCP) for the first quarter of 2024. According to the HCP’s economic outlook for the fourth […]
The Confédération Africaine de Football (CAF) announced Thursday a 40% increase in the Prize Money for the Winner of the TotalEnergies Africa Cup of Nations “AFCON” Côte d’Ivoire 2023, as part of plans to help football grow in the countries participating in the tournament. The winner will receive $7,000,000 and the runner-up of the TotalEnergies […]
Gabon has secured a credit facility of $68.5 million to finance “Projet Digital Gabon”, a digital transformation project aiming at creating an environment conducive to accelerating digital transformation. The deal was signed late December by Mays Mouissi, Gabon’s Minister of Economy, and the World Bank Country Director for the Central African country, Cheick Fantamady Kanté, […]
Governor of Bank Al-Maghrib (BAM), Abdellatif Jouahri, was named “Best Central Banker in Africa for 2024” by the London-based financial and international affairs magazine “The Banker”, affiliated to the “Financial Times” group. The Banker’s Central Banker of the Year 2024 awards celebrate the officials who have best managed to stimulate growth and stabilize their economy. […]
Emerging and frontier markets in Africa now have a reason for cautious optimism in 2024 following a recent announcement by The Federal Reserve (Fed) signaling possible cuts of up to 75 basis points in the coming year. New forecasts from central bank officials showed a turn from the hawkish rate environment Fed Chairman Jerome Powell […]
The governor of the Central Bank of Seychelles (CBS) Caroline Abel, will leave her position in March 2024 when her contract ends. C. Abel made the announcement during the CBS press conference on the monetary policy for the upcoming three months, State-run news agency reports. “Today is my last press conference as governor of the […]
Morocco cut its trade deficit by 7.6% in November thanks to higher exports of the automotive sector and lower energy prices. Morocco’s imports stood at 653 billion dirhams, down 3.3%, while its exports remained almost stable at 392 billion dirhams. A drop in phosphates and by product sales was compensated by an improvement in sales […]
The European Investment Bank will support Morocco’s Forest Strategy 2020-2030 with €100 million under a financing agreement signed in Rabat on Thursday Dec. 28. The agreement, which falls in the frame of cooperation between Morocco and the EIB and which spans the period from 2024 to 2028, focuses on climate change adaptation, biodiversity promotion, and […]
As Kenya is moving closer to sealing an Economic Partnership Agreement (EPA) with the European Union, the East African economic powerhouse has also announced the possibility of a $1bn loan from China that could be used to help pay off a $2bn Eurobond repayment that is due in June next year. Kenya’s economic partnership deal […]
Morocco and the German Development Bank (KfW) on Wednesday formalized three loan agreements totaling 250 million euros and two grant agreements amounting to 7 million euros. The agreements are earmarked for financing three pivotal projects focused on social protection, sustainable mobility, and irrigation. These agreements were signed in Rabat by Fouzi Lekjaa, Minister in charge […]