First Independent Mena Newspaper
German Development Bank (KfW) has pledged to provide Morocco €165 million funding to continue reforming its financial system which has shown resilience to external shocks. The KfW financial support includes a €150 million loan and a €15 million grant. Funding agreements were inked Wednesday in Rabat by Economy & Finance Minister Nadia Fettah and Head […]
Morocco will soon unveil the first 100% locally made petrol-powered car, building on an existing network of suppliers with an affordable cost, industry minister Ryad Mezzour said. Quoted by l’Economist daily, Mezzour said the car, NEO, will be marketed at a competitive price of 170,000 dirhams and that it will find its first customers in […]
The International Monetary Fund (IMF) has approved financing to cope with rising global food prices for Malawi, the first low-income nation to receive financing from the IMF under a new tool intended to help countries cope with global food price shocks. The number of Malawians facing food insecurity has doubled to 20% of the population […]
Côte d’Ivoire and Ghana, the world’s two largest cocoa producers, as well as the Ivorian-Ghanian Cocoa Initiative (CIGCI), created to guarantee a minimum income to farmers, have noted “efforts” by some manufacturers to pay higher prices to producers, after giving them an ultimatum earlier this month. For several weeks, both countries reproached the chocolate manufacturers […]
Akdital, a Moroccan group that owns 15 clinics in Morocco, plans an Initial Public Offering at the Casablanca stock exchange to raise 1.2 billion dirhams. The IPO is the second on the Casablanca stock exchange which aims to attract similar offerings from Moroccan enterprises. In recent months, the bourse launched a campaign to […]
King Mohammed VI has urged the Government and all stakeholders to speed up the development of renewable energies, especially solar and wind energy, as well as green hydrogen and to endeavor to attract more domestic and foreign investment in the sector. Building on its progress, Morocco should accelerate the deployment of renewable energy in order […]
Morocco’s state-owned OCP Group, the world’s largest producer of phosphate-based fertilizers, announced on Tuesday its first carbon farming and certification project in Brazil to ensure food security and advance towards global net zero emissions. The OCP has teamed up with Bioline by InVivo, Agrorobótica and a selected famer for this project to be carried out […]
The government in Kenya, where about 8.5% of the population owns cryptocurrencies, has drafted a bill to tax crypto transactions in all exchanges in the country, even as the global crypto market undergoes a mass meltdown. The Capital Markets (Amendment) Bill, 2022 would allow for the taxation of crypto exchanges, digital wallets and transactions. Crypto […]
The International Monetary Fund (IMF) and South Sudan announced they have reached a staff-level agreement for the release of about $112.7 million in emergency financing, pending an approval by the IMF’s executive board. “This emergency financing under the new Food Shock Window will help South Sudan address food insecurity, support social spending, and boost international […]
Over $4 million (2.6 billion CFA) were embezzled between January and October this year in Gabon, the Chief of Police of the central African country, has revealed. Serge Hervé Ngoma made the remark at the opening ceremony of the 28th Global Program to Fight Financial Crime, Corruption and Asset Recovery, on Monday in capital Libreville, […]