First Independent Mena Newspaper
The Central Bank of Libya (CBL) has formally dismissed what it describes as erroneous information and speculative reports regarding its recently disclosed financial statements. In a statement issued on its official Facebook page on September 19, the CBL highlighted that the data on public revenues and expenditures were published in full compliance with transparency protocols […]
Zimbabwe’s newly adopted gold-backed currency ZiG has been put to the test of increasing imports that depleted reserves, casting a shadow on the government’s plan to make it the only currency in the country by 2026. The currency was launched in April 2024 in an effort to mitigate monetary instability and hyperinflation that has plagued […]
The World Bank plans to utilize guarantees to draw more international financing to Morocco, said Hiroshi Matano, Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA). “We believe that these guarantees can help Moroccan borrowers (corporate and public institutions and non-sovereign risk counterparties) diversify their financing sources with private capital,” Matano said in an […]
The European Union (EU) will invest nearly €100 million by 2025 in three major projects in Angola focusing on biodiversity protection, the blue economy, and the circular economy, according to EU Ambassador Rosário Bento Pais. Speaking on September 18, at the international conference “The Planet on Fire: Rights in Extinction,” organized by Mosaiko – Institute […]
Senegal’s new president, Bassirou Diomaye Faye, is walking a financial tightrope. Just five months into the job, he has called for snap elections on November 17, dissolving the opposition-led parliament. But this political shake-up could not come at a trickier time for the economy. The numbers are not looking great. Economic growth has slowed to […]
Libya’s Central Bank (CBL) has stabilized operations and reestablished ties with international banks, according to Asim Al-Hajjaji, Director of Compliance. Speaking to Italy’s Nova news agency on September 15, Al-Hajjaji highlighted the bank’s focus on aligning with global regulations and improving transparency. Key efforts include strengthening internal operations and implementing strict measures to combat money […]
Egypt’s wheat imports significantly increased in the first half of 2024, rising to $2.324 billion from $1.785 billion in the same period of 2023, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). Wheat remains a crucial staple food for the country, contributing to the overall rise in raw material imports, which reached […]
IFC has granted a €100 million loan to OCP Group, contributing thus to complete the desalinated water pipeline to connect Jorf Lasfar to Khouribga, whose construction is progressing well and is expected to be completed soon. The loan will support the construction of a 219 km pipeline and a new pumping station The infrastructure will […]
The African Development Bank approved a loan of 102.7 million dollars to help Togo farmers boost their resilience to climate change and foster sustainable agricultural practices. The funding also aims at helping farmers reduce greenhouse gas emissions and provides support for small irrigation systems covering at least 39,179 ha, in addition to the provision of […]
Senegal’s Prime Minister Ousmane Sonko revived last week a proposal to create a bank dedicated to the Senegalese diaspora. This initiative aims to channel the significant funds sent home by Senegalese expatriates into impactful and sustainable projects, reported Ecofin agency. The diaspora sends over $2.9 billion annually to Senegal, representing about 12% of the country’s […]