First Independent Mena Newspaper
Moroccan businesswomen will benefit from technical assistance of the World Bank Women Entrepreneurs Finance Initiative (WB We-Fi) program to access to new markets through e-commerce. An agreement was signed lately in this regard by the WB officials with Moroccan ministry of Trade & Industry, Morocco’s SME Agency and the Federation of Moroccan Chambers of Commerce, […]
The bill to regulate the use of cryptocurrencies in Morocco is ready, announced the Governor of the Central Bank (Bank Al-Maghrib- BAM), Abdellatif Jouahri. Speaking at a press briefing following BAM’s 4th and final quarterly meeting of 2022, Jouahri stressed that the draft to put in place a proper regulatory framework is ready. “For cryptocurrencies, […]
Remittances by Moroccan expatriates are expected to increase by 12.9 pc to $10 billion in 2022 before dropping by 4pc to $9.6 billion in 2023 due to the deterioration of economic conditions in the host countries, according to the forecasts of Morocco’ Central bank. As for travel receipts, they are projected to end the year […]
Morocco is poised to leave the grey list of the Financial Action Task Force (FATF), a move that will facilitate Morocco’s access to international debt market and improve its sovereign rating, central bank governor said. The bank hiked its benchmark interest rate by 50 basis points to 2.5% as it expects inflation to surge to […]
Nigeria’s federal government generated 625.39 billion nairas ($1.4 billion) in value-added tax (VAT) in the third quarter of 2022, reports say. The figure accounts for 25.95% increase from the previous year. The tax payments collected rose by 4.21% from 600.15 billion nairas in the second quarter of the year per data gathered by National Bureau […]
The West and China should seek deeper cooperation over Africa’s debt conundrum in 2023, without which many countries on the continent will face debt distress and defaults, a new research paper by Chatham House warns. The report warns that although China’s lending to Africa did not cause the current African debt distress in most cases […]
Morocco’s central bank has decided to raise its key rate by 50 basis points to 2.5pc due to inflation upward trends and external pressures that spread to non-tradable goods and services and to the implementation of the subsidy system reform starting 2024. During last quarterly meeting held Tuesday in Rabat, the Board of Bank Al-Maghrib […]
Visa Inc has announced plans to invest $1 billion over the next 5 years in Africa in a bid to capitalize on the emerging economy’s rapid growth in digital payments. “Visa has been investing in Africa for several decades to grow a truly local business,” chief executive officer Alfred Kelly Jr said in a statement. […]
US President Joe Biden capped the three-day summit of 49 African leaders by stressing his administration’s deep commitment to Africa, urging the continent’s leaders to respect the will of their people, and saying he may come visit. Africa could see more US investment as the Biden administration wants to reduce the dominance of China and […]
With record-breaking drought in the Horn of Africa affecting half the population of Somalia, the United Nations has warned if more aid does not arrive soon, the Horn of Africa will suffer its worst famine in half a century. Famine has been narrowly averted in Somalia, but the situation remains “catastrophic,” the United Nations has […]