First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) is set to approve by end of May a $100 million loan program to Banque Misr, under the Financial Intermediaries Framework (“FIF”), to finance micro, small, and medium enterprises (MSMEs). The program, according to the EBRD website, will support BM’s lending to private MSMEs in Egypt, where […]
As the 15th edition of the BRICS summit approaches, two topics are high on the grouping’s agenda: its expansion, with the arrival of several African countries in particular; and the development of a new currency to be used for cross-border trade by the BRICS nations, which may be seen a push for de-dollarization. De-dollarization’s moment […]
Not all Africans are poor — this could arguably be the main message from the 2023 edition of the annual Africa Wealth Report by London-based Henley & Partners that reveals that the ‘Big 5’ wealth markets in Africa — South Africa, Egypt, Nigeria, Kenya, and Morocco — together account for a significant 56% of Africa’s […]
Morocco and Germany announced on Wednesday in Geneva a joint financial contribution for the Migration Multi-Partner Trust Fund (MPTF) of the International Organization for Migration (IOM). By joining their efforts, the two countries confirm their commitment made during the Intergovernmental Conference to Adopt the Global Compact for Safe, Orderly and Regular Migration organized by the […]
Egypt and Greece have signed a Memorandum of Understanding (MoU) to launch a periodic dialogue between their ministries of Finance in order to exchange views on financial policy issues and topics, mechanisms of developing technical cooperation, the Egyptian Finance Ministry said in a statement. Mohammed Moait, Egypt’s Finance Minister signed the deal with his hosting […]
The European Union (EU) has provided a fresh credit facility of 32.7 million euros to the Democratic Republic of Congo to be used to provide assistance to people in the eastern region where several populations have been affected by fighting between the army and rebel groups. The loan will be channeled through humanitarian organizations to […]
Investors are unloading Kenya’s dollar bonds due 2028, whose yields have climbed to 14.6% and the shilling has also trading at a record low, while opposition leader Raila Odinga’s Azimio La Umoja (Declaration of Unity) party has said protests against government policies would resume after Islam’s holy month of Ramadan, if no progress had been […]
Morocco’s transition to low-carbon economy requires an annual investment of $2.6 billion through 2030, rising to $17.4 billion annually by 2050, according to a report released by the World Bank The money will be spent on new clean energy solutions and technologies, explained the report titled: Scaling up to phase down: Financing Energy Transitions in […]
Côte d’Ivoire has secured two loans worth nearly €560 million from the World Bank and the International Monetary Fund (IMF) for the financing of two development projects. The first credit, 282.8 million euros, concerns inclusive sustainable development project for secondary cities while the second estimated at 276.9 million euros will be used to finance the […]
The Arab Maghreb Union AMU issued on April 18 a detailed statement asking Algeria to pay its duties, while debunking the false arguments underlying Algeria’s hysterical reaction to the appointment of a Moroccan citizen as permanent representative of AMU to the African Union. The statement was issued five days after Algeria’s blunt statement in which […]