First Independent Mena Newspaper
Mauritania and the Islamic Development Bank (IsDB) signed Monday October 23 a new support strategy framework agreement under which the Saudi Arabia-based institution will provide further assistance to the North African country in the 2024-2026 period. Abdessalam ould Mohamed Saleh, Mauritania’s Minister of Economy and Sustainable Development and the IsDB President Muhammad Al Jasser signed […]
The Moroccan government has increased its general budget by 6.3% to about 62 billion dollars to meet increasing spending on social safety nets, earthquake reconstruction, job creation, and economic development. Speaking to members of Parliament, Finance Minister Nadia Fettah Alaoui said the government will also increase its public investment budget by 35 billion dirhams to […]
As many as 34 people dealing with funds in several State entities, including the office of the President, have been banned from leaving the country amid an ongoing investigation into alleged funds embezzlement. Aly Touré, the Prosecutor of the Court for the Repression of Economic and Financial Offenses (CRIEF) has targeted the people in question […]
Morocco was the top outperforming destination of the Greenfield Foreign Direct Investments (FDI) in 2023, as it attracted worldwide commitments totaling $34 billion worth of investment projects. These pledges are projected to double the previous all-time high of $15.8 billion set in 2008, fDi Markets said in a recently released report. The North African country […]
The Moroccan government expects an economic growth of 3.7% and a narrowing of the fiscal deficit to 4% next year, according to a draft buddget that was approved by a ministerial council chaired this Thursdau by King Mohammed VI. The earthquake that struck on Sept 8 had no impact on the macro-economic assumptions of the […]
The U.S. International Development Finance Corporation (DFC) has decided to finance the construction of Ifria refrigeration facilities in two African countries, namely Morocco and Senegal. The move, announced last week, come after DFC provided technical assistance grants to the cold chain development company Ifria in 2021. The Corporation announced the signing of commitment letters worth […]
The World Association of PPP Units & PPP Professionals (WAPPP) and the World Association of Investment Promotion Agencies (WAIPA) are keen to help Togo attract private investment to finance its development, both organizations said during a meeting with the country’s leader Faure Gnassigbe, on the sidelines of Abu Dhabi World Investment Forum. Ziad Hayek, President […]
With the interest rates likely to stay high in 2024, governments across Africa are presented with a unique challenge and dilemma as they struggle to pay off rising levels of accumulated debt at the same time as they are being urged by the International Monetary Fund (IMF) to cut costly fuel subsidies and raise more […]
King Mohammed VI chaired, on Tuesday at the Royal Palace of Rabat, a working session on housing and urban planning sector. During the meeting, Minister of National Territory Planning, Urbanism, Housing and City Policy, Ms. Fatima Ezzahra El Mansouri, presented the broad outlines of a new housing assistance program, which is in line with the […]
Germany’s announcement last month that it would provide greater support to the Economic Community of West African States (ECOWAS), in its efforts to secure peace in the region and prevent future crises, suggests that European leaders see the organization as crucial to the future stability of West Africa. The agreement to provide greater financial support […]