First Independent Mena Newspaper
UK company Emmerson has raised funds to sue Morocco at the International Centre for Settlement of Investment Disputes ICSID after failing to obtain an environmental license for its Potash mine in Khemisset. Morocco’s investment authorities have judged that the Emmerson issued an unfavorable opinion on the project’s environmental impact, due mainly to concerns about excessive […]
The freezing of assets belonging to active or retired Algerian military generals and elites is meant to exert pressure on the authoritarian and military regime of Algeria. The freezing of assets, estimated at several billion dollars, is aimed at combating terrorism financing and to preserve peace and security, which are top priorities for international organizations […]
A new study into global wealth creation and redistribution has revealed a noteworthy trend in Africa and the Middle East, which are now attracting a growing share of the $400 billion in wealth brought along by migrating ultra-rich individuals. Since the onset of the Covid-19 pandemic, billionaires worldwide have been relocating more frequently, with Switzerland, […]
Morocco’s railway operator ONCF has presented a “strategic” plan to expand the service for a total cost of 8.8 billion dollars, in a project that drew interest of investors offering up to 14 billion dollars, head of the African Development Bank chief Akinwumi Adesina said. The project was a “big success” for Morocco, Adesina said […]
Curtains fell on the Africa Investment Forum in Rabat which helped the African Development Bank (AfDB) mobilize a total funding of $29.2 billion for 47 projects, covering critical areas such as water supply, energy, transport, mining, pharmaceuticals, private equity, tourism, and infrastructure. The event drew 2,300 investors and delegates from 83 countries, AfDB chief Akinwumi […]
King Mohammed VI underscored Morocco’s transitional justice experience and the equity and reconciliation commission as a crucial “building block” in the transition to democracy, in the consolidation of the rule of law and of institutions, and in the protection of freedoms. This came in a Royal letter to the participants in an international symposium on […]
The African Development Bank signed a loan agreement worth 350 million euros in support of Moroco’s economic governance, climate resilience, water management, and industry as it also plans to extend a financing of 650 million euros to help Morocco develop transport infrastructure. As part of the first loan, signed during the Africa Investment Forum (AIF) […]
Libya is enacting extraordinary measures to tackle its persistent liquidity crisis. On December 5, 2024, the Central Bank of Libya announced a partnership with the British company ‘De La Rue’ to print 30 billion dinars (approximately $6.25 billion) in new currency. This decision follows years of acute financial difficulties, compounded by political instability since the […]
The World Bank has approved $70 million loan for Morocco to enable country continue implementing ambitious social protection reforms seeking to facilitate access to social services in particular for vulnerable households. Building on the achievements of the first project, which saw a successful design and implementation of the National Population Registry, Unified Social Registry, and […]
Attijariwafa Bank has conducted an early buyback of $290 million of Gabon’s external debt, in a transaction that will ease the debt burden in the country and foster its financial stability. The operation represents 50% of Gabon’s Eurobond. It was made by l’Union Gabonaise de Banque (UGB), the local subsidiary of Attijariwafa Bank. The operation […]