First Independent Mena Newspaper
Several partners have pledged to contribute up to $23.5 billion to the Niger’s Economic and Social Development Program known as PDES 2022-2026, the office of President Mohamed Bazoum has announced on the sidelines of an investors’ roundtable held in Paris dec.5-6. “At the end of the first day, 22.3 billion euros (23.405 billion USD) of […]
Leaders of the Western African regional grouping ECOWAS have pledged to club together $1 billion as urgent fund to address terrorism in the region. The pledge came Sunday during the 62nd summit of heads of state of the bloc in Abuja, Nigeria. A communique of the summit read Tuesday indicated that the leaders expressed their […]
A special task-force has proposed to delay the implementation of the East African Monetary Union (EAMU) until 2031 from initial date of 2024, saying it is too soon considering members have not attained all requirements. The proposed delay is an indictment on the members’ commitment to achieve EAMU, a key pillar of integration. The EAMU […]
The eight member countries of the West African Economic and Monetary Union (UEMOA) have not been spared by multiple crises affecting the world and its economic growth rate reached 5.7% in 2022, down 0.4% compared to 2021, the leaders of this organization meeting in Abidjan announced this week. The eight member countries of UEMOA — […]
President of Niger Mohamed Bazoum chaired Monday in Paris an investors’ roundtable for the financing of the Economic and Social Development Program known as PDES 2022-2026, the office of the African leader has indicated. The program, according to Bazoum, will require around $30 billion and contributions from international technical and financial partners and the private […]
Morocco will make a contribution to replenish the African Development Fund, a concessional funding window of the African Development Bank. “The decision reaffirms Morocco’s willingness and commitment to help African states in line with the King’s enlightened vision to foster African solidarity and prosperity,” Finance Minister Nadia Fettah Alaoui said in a speech read on […]
Remittances from Moroccans abroad are expected to hit 11 billion dollars, a record level compared to 9.3 billion last year, the World Bank said in a recent report. Remittances are key to feeding Morocco’s foreign exchange reserves, which cover around 6 months of import needs, according to the central bank. Morocco, whose diaspora is mainly […]
Kenya’s President William Ruto has officially launched his “resourceful fund”, the flagship measure of his campaign intended to give the poorest access to credit and revive the economy of this African country “from below“. Since taking office in September, Ruto has endeavored to deliver on his campaign promises in a country struggling with historic drought, […]
Nearly 30 senior executives representing twenty Central Banks from Africa and the Middle East attended a cybersecurity workshop organized Nov.28-29 in Rabat by Morocco’s Bank Al-Maghrib and the Bank of England (BoE). The meeting was opportunity for the banking experts to exchange experiences and views on cybersecurity. The debates focused on topics related to cybersecurity […]
The official importer and distributor of BMW in Egypt, Global Auto Group, has announced plans to inject $100 million meant to develop its services and expand its footprints in the Arab country. Fahad Al-Ghanem, Chairman of the group, made the announcement to Asharq Business, Arab Business reports. Al-Ghanem also revealed that the company will resume […]