First Independent Mena Newspaper
Morocco’s capital market regulator AMMC gave its approval for the listing of merchant bank CFG Bank on the Casablanca Stock Exchange. Under this IPO, CFG aspires to raise 600 million dirhams at a price share of 110 dirhams, with the subscription period running from November 30 to December 7. This marks the first IPO in […]
The European Bank for Reconstruction and Development (EBRD) has approved a €12 million loan for Guelmim-Oued Noun Saharan region to enable it improve drinking water supply for households in rural areas. The funding will also help the Guelmim province upgrade four existing Waste Water Treatment Plants (WWTPs). the recycling water is used in community gardening, […]
United Arab Emirates (UAE) are planning to build a scientific University in Mauritania’s capital of Nouakchott to meet the demands of the local job market, the minister of Education of the Gulf country Ahmed Belhoul Al-Falasi has announced. The future University will be located in the East of the capital and will stretch over 23,377m2. […]
CFG Bank, one of the smallest banks in Morocco, plans to issue an initial public offering at the Casablanca stock exchange. The decision was made by the bank’s general assembly with the aim to raise 600 million dirhams through a capital increase at the stock exchange. CFG will issue new shares with a par value […]
The board of directors of the African Development Bank (AfDB) has approved a loan worth $33 million to Seychelles destined to strengthen the country’s response to climate change and the transition to clean energy in the framework of the implementation of the Phase III of the Governance and Economic Reforms Support Program. The approval came […]
Commercial International Bank or CIB, one of Egypt’s leading private banks, has signed up for a $150 million loan from the European Bank for Reconstruction and Development (EBRD) to cushion against economic risks, a bourse statement said. Per the statement, the loan has a maturity of 10 years and will be used to optimize the […]
Senegal’s legislature approved Sunday November 19 the Government proposal of $452 million for national health budget accounting for 3.9 per cent of national budget for next year (2024). The lawmakers in unison greenlighted the budget presented by Minister Marie Khémesse Ngom Ndiaye, head of Health department. The money will cover several areas including research for […]
The Mohammed VI Investment Fund (FM6I) and the African Development Bank (AfDB) signed a Letter of Intent, aimed at increasing funding sources for productive investment and strengthening the role of the private sector in Moroccan economy. This partnership, sealed on the sidelines of the Africa Investment Forum 2023, held last week in Marrakech, will allow […]
As Algerians continue to suffer in long queues for basic goods, the military regime in Algeria has allocated its defense department a bloated budget of 21.6 billion dollars in 2024, up from 19 billion this year. The army thus widens the gap with other departments as the largest spending sector, mirroring its position as a […]
Africa Development Bank (AfDB) has announced the launch of the Special Agro-Industrial Processing Zones Alliance (SAPZ) to mobilize at least $2 billion in financing and investment commitments from its members to develop the continent’s food and agribusiness industry over the next five years. The project has been hailed as a significant step towards making Africa […]