First Independent Mena Newspaper
In 2023, banking intermediation was at the heart of Mauritanian banks’ operations, as they leveraged their deposit-taking and lending activities to support growth. According to the Central Bank of Mauritania’s 2023 annual report, this activity accounted for 65.1% of the banking sector’s total consolidated assets. Customer deposits at the 17 banks operating in the country […]
Kenya prepares to re-introduce an amended version of the eco-levy tax that has been at the heart of popular discontent that plunged the country into violent protests this summer. Treasury Secretary John Mbadi told local media that “about 49 measures” were being considered as part of a tax amendment bill. Some of the scrapped taxes […]
Morocco has decided to speed up desalination projects to meet growing demand for drinking water and irrigation amidst a persistent drought. By 2030, 50 pc of the country’s drinking water will be supplied by desalination plants. Several foreign investors have shown interest in Morocco’s ambitious projects, including U.S. Company “Energy Recovery” which has signed lately […]
The Central Bank of Libya (CBL) said on Sunday August 18 that it had suspended all operations in the country, after one of its employees was “kidnapped” by unidentified individuals. “The Central Bank of Libya condemns the kidnapping of the Director of the Information Technology Department, Musab Musallam, by an unknown person in front of […]
Discussions among the BRICS member countries continue over the formation of a united currency that would facilitate trade between BRICS nations and decrease reliance on the ‘greenback’, though whether this ambitious plan succeeds is far from certain, many analysts say. In May, BRICS member countries India and Nigeria announced they had officially signed an agreement […]
A French court ordered the seizure of three Nigerian presidential jets in an arbitration case filed by a Chinese company alleging a breach of contract by the West African country, the Financial Times said. The Chinese company, Zhongshan, initiated arbitration proceedings against Nigeria in 2018 accusing the government of failing to uphold its commercial commitments. […]
Morocco’s electric vehicle battery ecosystem is gaining momentum with the announcement of a new $363.5 million investment to be injected by China’s BTR New Material Group in its second plant to be built in Mohammed VI Tangier Tech City. In its latest press release, the Shenzhen-based firm said its 2nd factory in Morocco will produce […]
Africa’s exports increased by 16.8% in 2023 compared with a year earlier, reaching US$665.4 billion, whereby this significant growth was primarily driven by minerals and IT services, according to a recently published Africa Export Competitiveness Report 2023. According to the report, the world economy recovered considerably from the Covid-19 pandemic in 2023, as the total […]
Chadian Foreign Minister Abderaman Koulamallah has “reiterated his country’s support for the Royal Initiative to promote access to the Atlantic Ocean for the countries of the Sahel.” In a joint Communiqué issued Wednesday in Dakhla following a meeting with his Moroccan peer Nasser Bourita, the Chadian official “underlined the interest shown by the two Heads […]
Imagine booking a safari in Kenya, outsourcing IT work to Egypt, or enjoying a Moroccan-designed app on your phone. Sounds like a typical day in our interconnected world, right? Well, it’s more significant than you might think. In a surprising turn of events, three African countries have muscled their way into the world’s top 40 […]