First Independent Mena Newspaper
The G20 summit wrapped up in Africa without a joint communiqué amid an absence of the US and major financial chiefs. The United States boycotted the event citing South Africa’s “anti-Americanism”. The decision also came after fierce criticism by Trump, who accused the South African government of discrimination against its white minority. The absence of […]
In a bid to alleviate the burden of rising living costs on citizens, the Egyptian government has announced a substantial EGP 200 billion social support package, which will be implemented during Ramadan and extended into the upcoming fiscal year. Prime Minister Mostafa Madbouly revealed the details of the new initiative on Wednesday February 26, which […]
Botswana and South African mining giant De Beers have finalized a landmark 10-year agreement, enhancing the country’s stake in diamond sales and providing a boost to its critical diamond sector. After six years of negotiations, the deal will see Botswana’s share of rough diamond sales rise from 25% to 30% in the first five years, […]
Attijariwafa Bank reported a 26.6% increase in its annual 2024 net profit to 950 million dollars, amid an expansion of activity in Morocco and in African subsidiaries. The bank reported an 8% increase in loans to the economy in Morocco, raising its market share to 28.1% from 26.9% in 2023, it said in a statement […]
Morocco has emerged as a model of economic resilience in Africa according to the latest United Nations Conference on Trade and Development (UNCTAD) report, which identifies the Kingdom as one of the continent’s least vulnerable economies to external shocks. The comprehensive assessment, reported by Les Inspirations Eco, highlights Morocco’s strategic investments in modern infrastructure that […]
Morocco’s ONCF has chosen France’s Alstom, Spain’s CAF, and South Korea’s Hyundai Rotem as manufacturers of its tender to buy 168 trains, including high-speed, intercity and urban trains. The new trains will help ONCF renew its existing fleet and accommodate for traffic growth, the rail operator said in a statement. It also added that the […]
Marsa Maroc, Morocco’s leading port operator, said it will be operating the western terminal at Nador West Med port for a concession period of 25 years. The terminal will be the second to be operated by Marsa Maroc after the eastern terminal concession it won in June last year. The first phase investment in the […]
Sub-Saharan Africa remains the world’s most expensive region when it comes to transferring remittances, with an average cost of transferring money of 8.37% in the second quarter of 2024, according to the World Bank’s most recent report. This cost remains significantly above the global average, despite the increasing importance of remittances in the region’s economies. […]
President of the French Senate Gérard Larcher raised the need for an expanded French consular service that covers the Moroccan Sahara, which he called the Southern Provinces of Morocco. The call echoes a previous promise by French Foreign Minister Jean-Noël Barrot during president Macron’s visit to Rabat in October 2024. Since Paris backed Morocco’s sovereignty […]
Maroc Telecom, a Moroccan company with branches across Africa, announced the appointment of Mohamed Benchaaboun as new chair, succeeding Abdeslam Ahizoune who has led the company since 1999. The decision was taken by Maroc Telecom’s Supervisory Board which offered Benchaaboun a two-year term, while thanking Ahizoune for spearheading its expansion in Africa. Besides Morocco, the […]