First Independent Mena Newspaper
Egypt signed Sunday a $1.5 billion Annual Work Program with the International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IsDB) Group, to provide integrated financing solutions to the Arab country. Under the agreement, ITFC will deliver Egypt $1.5 billion integrated financing solutions, meant to enhance the country’s capacity to […]
Morocco would issue a dollar-denominated bond in 2023, the first since 2020, the central bank said. Morocco has yet to recover its investment grade although its most recent foreign debt issue was successful. Domestically, central bank official Youness Issami said the central bank has proceeded to purchases of treasury bonds for the first time The […]
Morocco’s competition council approved the acquisition by Morocco’s Akwa Africa, a subsidiary of Akwa group, of Total Energies fuel distribution subsidiary in Mauritania. The council did not offer details on the transaction but earlier in November, Financial Afrik said it would amount to 185 million dollars. Akwa Africa was established to help the group expand […]
Morocco ranks first in Africa in terms of quality of life, according to the “Best Countries Rankings” compiled by US News. Globally, the Kingdom comes in 52nd position. Morocco ranks first among African countries in terms of quality of life, according to the ranking established by the American news magazine U.S. News as part of […]
Inflation which stood at 5% in 2022 could have soared to 10% had it not been for proactive measures taken by the government to protect the purchasing power of citizens, finance minister Nadia Fettah Alaoui said. Morocco had increased allocations to the compensation fund to 40 billion dirhams, offered transporters help, while the central bank […]
The United Nations on Thursday launched an appeal for funds to come to the aid “before it is too late” of 30 million children suffering from acute malnutrition in countries affected by the food crisis. “More than 30 million children in the 15 most seriously affected countries suffer from wasting – or acute malnutrition – […]
Viajar magazine, one of the prestigious Spanish magazines specialized in tourism and travel, has designated Morocco as the “best emerging sustainable destination for the year 2022-2023″. The award was presented by the magazine’s director Josep Palau to Director General of the Moroccan National Tourist Office, Adel El Fakir, at an awarding ceremony held Tuesday in […]
Morocco is entering, thanks to the leadership of King Mohammed VI, a new phase of its development characterized by the building of a Social State, the Head of Government, Aziz Akhannouch, said on Wednesday in Davos. In one year, the government has fulfilled the royal agenda by putting in place the regulatory framework for compulsory […]
Canadian company Aya Gold & Silver has raised $70 million for the development of its Moroccan Boumadine and Zgounder mining projects, near Ouarzazate. On Tuesday, Aya firm announced it has agreed to sell 8,485,000 common shares to Eight Capital and Desjardins Capital Markets, as joint bookrunners and co-lead underwriters, together with a syndicate of underwriters. […]
Egypt’s General Authority for Supply Commodities will launch its first-ever corn tender on January 19th, a statement by the Ministry of Supply and Internal Trade said. The tender according to the ministry aims at providing fodder for the kids of poultry jam. The authority announced practice No. (1) for the year 2022/2023 for the supply […]