First Independent Mena Newspaper
Ghana’s President Nana Akufo-Addo cannot call on African leaders to stop begging from the West while he is doing the same, said former Nigerian senator, Shehu Sani, in response to Akufo-Addo’s recent advice to African leaders against “begging” from the West. “If we stop being beggars and spend African money inside the continent, Africa will […]
The US Development agency USAID has donated to Côte d’Ivoire more than 2 million doses of Pfizer to help the West African country to tackle the COVID-19 pandemic. The US embassy in capital Abidjan said in a statement that the vaccines will support the efforts of authorities to vaccinate 52 per cent of the population, […]
UK-based finance institution British International Investment (BII) and the African Guarantee Fund (AGF) have signed a $75 million re-guarantee agreement for small and medium enterprises (SMEs) across Africa, Zawya reports. The fund, according to BII, will provide credit guarantees to partner financial institutions for up to 75% of the risk on SME loans, thus increasing […]
Strategies are needed to avoid debt crises that developing nations are currently facing, including the urgent need to find as much as $2.5-trillion over five years to meet external debt-service costs as interest rates rise and poorer countries struggle to refinance borrowings, according to a recent study. The findings published by the Bill & Melinda […]
The European Bank for Reconstruction and Development (EBRD) is providing additional loan financing of €100 million to Société Nador West Med (NWM) for the construction of the Nador West Med port in the Oriental Region of Morocco. The loan is a new, second tranche under a €200 million EBRD loan agreement signed in 2015, announced […]
The European Bank for Reconstruction and Development (EBRD), the Green Climate Fund (GCF) and the European Union (EU) have agreed to provide a financing package of up to €25million to Banque Centrale Populaire (BCP) to support Morocco’s green transition. This is the third facility provided to BCP under the GCF Green Economy Financing Facility (GEFF) […]
The United States has imposed sanctions on more than 40 people and entities for alleged rights abuses from nine countries, which include asset freezes of Guinea’s former President Alpha Conde and Karim Keita, son of former Malian President Ibrahim Boubacar Keita. The US Treasury’s Office of Foreign Assets Control (OFAC) said in a statement the […]
Morocco has contributed $5 million to the African Development Fund (ADF), which provides concessional funding for projects, technical assistance for studies and capacity-building activities in Africa. The Moroccan contribution was made during the Fund’s 16th replenishment meeting convened in Tangier Dec.5-6 to raise money for low-income African countries to enable them counter social and economic […]
The Casablanca Stock Exchange has been connected to the African Exchanges Linkage Project (AELP), an e-platform which enables cross-border securities trading among African stock exchanges and contributes to economic integration. In its first phase launched this week, AELP connects seven stock exchanges across 14 African countries: Morocco, Egypt, Nigeria, Kenya, Mauritius, South Africa and the […]
Nigeria’s central bank has imposed restrictions on weekly cash withdrawals to limit the use of cash as credit agency Moody’s warned that the country’s banks face tough challenges over a dollar shortage. Foreign currency risk is “very high” for Nigeria’s banking system, according to a report by Moody’s. Nigeria is one of seven countries worldwide […]