First Independent Mena Newspaper
Morocco’s economic growth would pick up to 3.2% in 2024 from 2.9% expected in 2023, amid persisting drought but improving exports, planning agency HCP said. The forecast is closer to that of the World Bank which sees the economy growing by 3.1% this year after 2.8% last year. The agency expects Morocco to reap a […]
Gabon has scrapped luxury car taxes that provided the State with $82,000 last year, ‘Gabon Review’ reports citing 2024 draft Budget Bill. On the contrary, the budget bill imposed taxes on brand new vehicles and the measure is set to provide the State with $95,000 in revenues. The State did not collect taxes on brand […]
The European Union has granted Mauritania €9.5 million earmarked to prop up the national budget of the African country in favor of some reforms in the areas of education and health. The reforms in education and health seek to support the implementation of the strategy for accelerated growth and shared prosperity, known as SCAPP launched […]
African countries have faced a myriad of challenges in 2023, not the least of which was currency devaluation, with Nigeria’s Naira and Kenyan Shilling experiencing their largest drop in value against the greenback in 24 and 30 years respectively. While Nigeria and Kenya recorded significant growth across numerous industries, there were still instances of socio-economic […]
Chad’s Prime Minister Succes Masra announced Sunday he will not take his monthly salary that, he said, will be converted into scholarships for the promotion of excellence in 23 regions of the country. “I’m giving up my Prime Minister’s salary entirely. Every job deserves a salary, they say, but I don’t feel I’m working. I […]
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 […]