First Independent Mena Newspaper
Commercial International Bank, CIB, of Egypt has secured $148 million from the African Development Bank (AfDB), in form of financial package earmarked to support Small and Medium Enterprises (SMEs) as well as trade amid a shortage of foreign currency in the North African country due to complex endogenous and exogenous macro-economic and geopolitical factors. Including […]
Morocco’s economic growth is expected to increase to 3.3% in 2023 and strengthen further to 3.6% in 2024 and 3.8% in 2025, according to the projections of the Organization for Economic Cooperation & Development. In its latest report on the North African Kingdom, OECD says a rebound in agricultural production and the services sector, particularly […]
Tanzania’s Foreign Direct Investment (FDI) figures went up almost twofold year-on-year to $1.05 billion between July and September against $524.4 million in the same period last year, a positive development that is widely attributed to growing investor confidence in the East African country. Released by the state-run Tanzania Investment Centre (TIC) in its quarterly bulletin […]
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 […]