First Independent Mena Newspaper
The International Finance Corporation (IFC), an offshoot of the World Bank, agreed to lend Morocco’s phosphates and fertilizers giant OCP 100 million euros to fund the building of four solar plants, the two parties said. The agreement was announced during the International Monetary Fund-World Bank Group Spring Meetings in Washington DC. The green loan will […]
Morocco’s water department plans to announce the company that would build Casablanca’s desalination plant by year’s end, water and equipment minister Nizar Baraka said, adding that the competing companies include Moroccan ones. Consecutive droughts emptied many Moroccan dams pushing the government to invest in desalination to free dam water for inner regions. By 2030, Morocco […]
The Democratic Republic of Congo (DRC) is pushing for an audit of the country’s mining contracts with China, which it says heavily favor Beijing, arguing that the Central African country wants a bigger slice of the proceeds from the mining and export of its resources by Chinese companies. DRC’s national assembly speaker Christophe Mboso has […]
Burundi and Tanzania have floated a tender for designing and constructing about 282 kilometers of electrified railway, part of East Africa’s wider cross-border electric railway line plans aiming at boosting the competition for cargo business in the region and helping the region tap a US$3 trillion single market opportunity. What will be the continent’s second […]
The Royal Armed Forces will receive the U.S. rocket launchers (HIMARS) and guided bombs (JSOW) that will enhance further Morocco’s military capabilities to encounter threats to its stability and regional peace. On Tuesday, the U.S. Defense Security Cooperation Agency said the State Department has approved the sale to Morocco of 18 High Mobility Artillery Rocket […]
US Treasury Secretary Janet Yellen will push this week for urgent resolution of requests by Ghana and Zambia for restructuring of their sovereign debts, as a record number of developing nations are at risk of a debt crisis, with ballooning inflation escalating borrowing costs. Yellen, who is scheduled to meet with her counterparts at this […]
The association of Moroccan fruits and vegetables producers (APEFEL) said the high prices in the Moroccan market were due to higher production costs notably those of fertilizers and pesticides. Speaking to MPs, APEFEL representatives said ammonia and phosphates-based fertilizers saw prices rise 466% and 61% respectively, which was in turn repercussed on consumer prices. This […]
Chairperson of UK-Morocco Parliamentary Friendship Group Heather Wheeler has commended King Mohammed VI’s vision for strengthening stability, democracy and building a strong inclusive economy. This Royal vision will make Morocco UK’s “strategic partner in Africa,” said on Tuesday in Rabat the Conservative MP following her meeting with Moroccan Foreign minister Nasser Bourita. She also praised […]
Kenya will not default on its debt repayment obligations, the president’s chief economic adviser has said, as the country’s government failed to pay its employees for the first time since it gained its independence in 1963. Most county government workers last received their paychecks three months ago, with the delay in civil service salaries being […]
Morocco will continue to consider the IMF flexible credit line of $5 billion as precautionary and would only draw on it in case of external shocks like the Covid-19 pandemic, Morocco’s finance ministry said. The credit line is only granted to countries with sound macroeconomic and financial fundamentals and would add to Morocco’s credibility in […]