First Independent Mena Newspaper
Representatives of fisheries and fresh produce exporters rejected the politically biased verdict of the European Court of Justice, which invalidated the trade agreements because they covered goods from Morocco’s southern provinces, or Western Sahara. Head of the fisheries chamber Kamal Sabri denounced the verdict which puts a halt to deals that lasted for 20 years. […]
Egypt said its revenue from the Suez Canal shrunk by 60% as the Yemeni Houthi rebels continue targeting vessels. “We have lost more than 50-60% of the revenue from the Suez Canal, and over the past 7-8 months, we have lost more than $6 billion,” Egyptian President Abdel Fattah el-Sissi said, warning of the repercussions […]
A politically-motivated ruling by the European Court of Justice could push Morocco towards seeking alternative markets for its fresh produce and fisheries to avoid the legal uncertainties in an EU market where international deals are now led by biased judges disconnected from reality rather than diplomats and politicians. The final ruling declared the EU trade […]
The Financial Regulatory Authority (FRA) reported a notable increase in non-banking financing across various sectors in July 2024. According to the latest figures, the number of consumers benefiting from consumer finance rose to 2.127 million in July 2024, up from 1.986 million in July 2023. The total volume of outstanding loans for micro, small, and […]
Ghana and the IMF reached a staff level agreement for a loan worth $3 billion, an inroad in the West African country’s efforts to improve its public finances. Ghana is on a debt-restructuring program after it defaulted on most of its $30 billion international debt in 2022. “Performance under the IMF-supported program has been generally […]
The European Union has expressed strong attachment to the strategic partnership built with Morocco, following the ruling issued Friday by the European Court of Justice on the fishing and agricultural agreements concluded between the North African Kingdom and the European bloc. “The EU reiterates the high value it attaches to its strategic Partnership with Morocco, […]
Ghana’s Central Bank launched a new gold coin to boost domestic savings, manage liquidity, and strengthen the Cedi currency. The coin, made from gold mined in Africa’s biggest producer of the metal, has been refined to 99.99% purity, Governor of the Bank of Ghana Ernest Addison told reporters. The coin comes in three sizes of […]
The US Agency for International Development aid (USAID) and the African Development Bank (AFDB) signed a $600 million deal to promote social and economic development projects in the Sahel. The co-financing agreement will be used to support good governance, resilient agriculture, private sector development, water security, sanitation, and health systems. The agreement “reflects a joint […]
Morocco considers itself in no way concerned by the ruling on the agricultural and fisheries agreements issued by the European Union Court of Justice this Friday, says the Ministry of Foreign Affairs, which stresses that the Kingdom was not involved in any phase of the proceedings. “Morocco is not a party to this case, which […]
OCP Africa, a subsidiary of Morocco’s OCP Group, the world leader in plant nutrition solutions and phosphate-based fertilizers, will provide Malian farmers with customized solutions for the development of sustainable agriculture. Under an agreement signed Thursday with Mali’s ministry of agriculture, OCP Africa experts will conduct scientific studies and carry out tests in experimental plots […]