First Independent Mena Newspaper
Libya’s central bank has resumed normal operation after it was forced to suspend activities due to a kidnapping of one of its senior officials. Head of the bank’s information technology department, Musaab Muslamm was abducted on Sunday by an “unidentified party,” in Tripoli, while other bank employees received threats of similar kidnappings. The Bank resumed […]
South Africa’s official unemployment rate rose to 33.5% in the first half this year as the economic outlook worsens. The country, once Africa’s largest economy, has failed to curb inequalities amid widespread criminality and infrastructure bottlenecks. Unemployment in South Africa is now one of the highest globally and has exceeded Covid-19 levels, when a lockdown […]
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 […]