First Independent Mena Newspaper
Beijing-based China Harbour Company, a subsidiary of China Communications Construction Company, has been tasked to conduct studies of potential investments in infrastructure projects in Libya, under a Memorandum of Understanding (MoU) with Misurata Free Zone (MFZ). The deal was signed on the sidelines of the North African International Conference and Exhibition for Ports and Free […]
The European Bank for Reconstruction and Development (EBRD) launched this Monday its “Youth in Business” program in Morocco destined to help young entrepreneurs unlock their full potential as drivers of inclusive market economies. As part of the program, the European bank pledges to provide €100 million in credit lines to six eligible partner financial institutions […]
The 2023 MEDays Grand Prize was awarded to Azali Assoumani, President of the Union of the Comoros and current Chairman of the African Union. This prize awarding comes in recognition of Assoumani’s leadership during his presidency of the pan-African institution, marked by the African Union’s membership of the G20. It also illustrates the fraternal and […]
CFG Bank, one of the smallest banks in Morocco, plans to issue an initial public offering at the Casablanca stock exchange. The decision was made by the bank’s general assembly with the aim to raise 600 million dirhams through a capital increase at the stock exchange. CFG will issue new shares with a par value […]
Morocco’s OCP, the world’s largest phosphates producer, welcomed the US decision to cut the customs duty on phosphates-based fertilizers from 19.97 to 2.12%. The US decision will be applied from November this year to the next revision in the fourth quarter next year. OCP said its revenue stood at 61.03 billion dirhams ($6 billion) by […]
Trade between India and Africa increased by 9.3% between fiscal year 2021/2022 and 2022/2023, reaching $98 billion, according to India’s external affairs minister, as more than 30 African countries have benefited from India’s duty-free tariff preference (DFTP) scheme for least-developed countries. Speaking at the Confederation of Indian Industry (CII) and Exim Bank of India conclave […]
The board of directors of the African Development Bank (AfDB) has approved a loan worth $33 million to Seychelles destined to strengthen the country’s response to climate change and the transition to clean energy in the framework of the implementation of the Phase III of the Governance and Economic Reforms Support Program. The approval came […]
Commercial International Bank or CIB, one of Egypt’s leading private banks, has signed up for a $150 million loan from the European Bank for Reconstruction and Development (EBRD) to cushion against economic risks, a bourse statement said. Per the statement, the loan has a maturity of 10 years and will be used to optimize the […]
Senegal’s legislature approved Sunday November 19 the Government proposal of $452 million for national health budget accounting for 3.9 per cent of national budget for next year (2024). The lawmakers in unison greenlighted the budget presented by Minister Marie Khémesse Ngom Ndiaye, head of Health department. The money will cover several areas including research for […]
Ways of promoting cooperation between Morocco and Germany were discussed at a meeting that gathered in Berlin this Sunday Head of Government Aziz Akhannouch and German Chancellor Olaf Scholz. The meeting provided an opportunity to exchange views on several issues of common interest, and to examine possible ways of upgrading economic and commercial partnerships. During […]