First Independent Mena Newspaper
Africa should aim at creating a joint bank with Russia to facilitate financial transactions between both sides and promote trade, according to one of Burkina Faso’s leading political figures. “I think that when it comes to strengthening cooperation with Russia in key areas of the economy, it is very important that we explore the possibility […]
Morocco’s central bank and the Moroccan government are pursuing policies that are triggering opposite impacts on inflation. As the central bank tightens its monetary policy by raising the key interest rate for the third time in a row to 3%, the government continues its expansive budgetary policy in line with its goals to spur private […]
The World Bank has approved a new $7 billion partnership agreement with Egypt for 2023-2027 with a focus on boosting private sector jobs, provision of better health and education services, and adaptation to climate change. The bank in a statement said the Country Partnership Agreement (CPF) will entail $1 billion per year from the International […]
Morocco’s Princess Lalla Meryem received, on Wednesday in Rabat, Queen Máxima Zorreguieta of the Netherlands, UN Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA). The visit of Queen Máxima to Morocco is a UN recognition of the progress made by the North African Kingdom in the field of financial inclusion, a key enabler to […]
Governor of Morocco’s Central Bank, Bank Al-Maghrib, Abdellatif Jouahri said that Morocco lags behind in Financial Technology (FinTech), stressing the need for a change of culture to develop the country’s FinTech ecosystem that plays a decisive role in the field of financial inclusion. Jouahri made the statement at a joint press briefing, he held in […]
Trade exchanges between Russia and Africa should move away from the US dollar and be facilitated by transition to national currencies, Russian President Vladimir Putin has said, just as Tanzania and India have inked an agreement establishing a platform by which their bilateral trade will be carried out in their own currencies, not the dollar. […]
Morocco’s Central bank decided on Tuesday to lift its rates by 50 basis points to 3 percent to counter inflationary pressures exerted both at the domestic and international levels. During its first meeting of 2023 held in Rabat, the Board of Bank Al Maghrib discussed the evolution of the national economic situation and the Bank’s […]
The closure of three key banks in the United States has taught Nigeria tough lessons, prompting Africa’s biggest economy to launch a $672 million fund to support its tech startups. Nigeria wants to cushion its startups against the kind of situation that Chipper Cash, a victim of the fall of SVB and the bankruptcy of […]
Egypt’s leading e-payments solutions provider Fawry denied Monday any affiliation with Silicon Valley Bank (SVB), nor any of its subsidiaries, weeks after US authorities ordered the closure of SVB with the Federal Deposit Insurance Corporation (FDIC). The company in a press release also confirmed that it does not currently have any relationships with any bank […]
The European Union has launched an initial mobilization of €50m in Democratic Republic of Congo’s (DRC) critical minerals sector and infrastructure projects on the sidelines of the first-ever Kinshasa Economic Forum. The funding was announced at the inaugural Kinshasa Economic Forum, which brought together representatives from the EU, the DRC and France French President Emmanuel […]