First Independent Mena Newspaper
For the first time in two years, the port of Mocimboa da Praia in the gas-rich province of Cabo Delgado welcomed a commercial ship, a sign of a gradual return to normalcy for the province, which has been plagued by a jihadist insurgency for five years. Two years ago, the port of Mocimboa da Praia […]
Some 29 global companies including Amazon and Microsoft agreed Thursday with the Egyptian government to open headquarters, as authorities expect the agreement to create more than 34 thousand new job opportunities for youth. The agreements and contracts were signed with IT Industry Development Authority ETIDA. Per the accords, the contribution of the 29 companies will […]
Kenya’s President William Ruto has officially launched his “resourceful fund”, the flagship measure of his campaign intended to give the poorest access to credit and revive the economy of this African country “from below“. Since taking office in September, Ruto has endeavored to deliver on his campaign promises in a country struggling with historic drought, […]
The Moroccan government has earmarked 10.8 billion dollars or 115 billion dirhams to expand irrigation programs from 2020 to 2027. This came at a meeting chaired by head of the government Aziz Akhannouch, as farms in drought-stricken regions suffer from diversion of irrigation water to supply households. The investment aims to mitigate the impact of […]
Morocco and China signed, Wednesday in Rabat, a memorandum of understanding (MoU) on the creation of a working group for the facilitation and promotion of trade between the two countries. The MoU, signed by Minister of Industry and Trade, Ryad Mezzour and China’s Ambassador to Morocco, Li Changlin, aims to simplify procedures for strengthening trade […]
Nearly 30 senior executives representing twenty Central Banks from Africa and the Middle East attended a cybersecurity workshop organized Nov.28-29 in Rabat by Morocco’s Bank Al-Maghrib and the Bank of England (BoE). The meeting was opportunity for the banking experts to exchange experiences and views on cybersecurity. The debates focused on topics related to cybersecurity […]
The official importer and distributor of BMW in Egypt, Global Auto Group, has announced plans to inject $100 million meant to develop its services and expand its footprints in the Arab country. Fahad Al-Ghanem, Chairman of the group, made the announcement to Asharq Business, Arab Business reports. Al-Ghanem also revealed that the company will resume […]
US President Joe Biden will be hosting some 45 heads of state from across the African continent in Washington, DC, on 13-15 December for the flagship US-Africa Leaders Summit, but analysts say that the US president could be much more ambitious in his engagement. The three-day summit — designed to showcase, in US Vice-President’s Kamala […]
African finance ministers and central bank governors are meeting in Lomé, Togo, this Nov. 28-29 for the African Finance Industry Summit (AFIS) to discuss how Africa’s finance industry can contribute to the continent’s economic recovery. Morocco is participating in the African Summit, held under the theme “Sustainable, borderless and digital, Transforming finance in the age […]
Morocco’s phosphates and fertilizers exporter OCP said its revenue up to September this year grew to 89 billion dirhams or 8.3 billion dollars after the increase in prices and demand in the international market. This performance marks a 55% increase compared to the same period a year earlier thanks also to decreasing Chinese exports, OCP […]