First Independent Mena Newspaper
The OCP Group has inaugurated in Kaduna, Northern Nigeria, a state-of-the-art fertilizer blending plant, its first on the continent. Extending over 10 hectares, this facility houses a blending unit with a production capacity of 120 tons per hour; a 25,000-ton storage unit; a modern training center dedicated to the various partners; a laboratory equipped with […]
Tunisian bakers suspended their call for strike following a deal with the ministry of Trade which has agreed to disburse a portion of €78 million (TND250 million) subsidy promised to operators. Sadok Haboubi, the treasurer of the union of bakers, told media that they have reached a deal with the ministry of trade for the […]
King Mohammed VI has appointed Mohamed Benchaaboun as head of the Mohammed VI Investment Fund, at a time Morocco assigns particular importance to spurring private investment. The appointment was announced during the meeting of the Council of Ministers, held Tuesday in rabat, under the chairmanship of the sovereign, who has set the target of attracting […]
Ghana’s cedi slumped over the last three days to become the world’s worst-performing currency this year as investors continued to squeeze foreign capital into the West African country. The currency of the world’s second-biggest cocoa producer depreciated as much as 3.3%, which took its losses this year to more than 45%, the most among 148 […]
The effects from the COVID-19 pandemic aftershocks and the Ukrainian crisis have led to rising commodity prices, surging inflation, and shifts in the global financial situation that have transformed African trade and production capabilities, according to the latest figures published by the International Monetary Fund (IMF). After over-performing in its post-pandemic recovery in 2021, Africa’s […]
The ministerial council chaired by King Mohammed VI has approved a draft budget that aims at fostering the pillars of the welfare state by focusing on the generalization of social protection, upgrading the education system, improving access to social housing and protecting vulnerable groups. The draft budget expects a growth rate of 4% and a […]
Kenzz, an Egyptian e-commerce platform bringing shopping to the mass market, has grabbed $3.5 million in seed funding to be used to grow product categories and hire talent, Tech Crunch reports. The round was led by U.S.-based and MENA-focused venture capital firm Outliers Venture Capital and investors include HOF Capital, Foundation Ventures, and Samurai Incubate. […]
King Mohammed VI, who was accompanied by Crown Prince Moulay El Hassan, chaired, this Tuesday, at the Royal Palace in Rabat, a Council of Ministers devoted to examining the General guidelines of the 2023 appropriation bill and the adoption of a draft Dahir, three draft organic laws, three draft decrees as well as a number […]
Uganda is running an economy with the most developed financial sector in East Africa, which is only the latest feat that depicts a major milestone in the country’s race towards becoming a regional financial hub, with an eye to increased inflow of foreign direct investments, according to the latest study by the Official Monetary and […]
Sub-Saharan Africa’s economic activity is expected to slow significantly in 2022 and remain relatively modest in 2023 and looking ahead, the outlook remains highly uncertain, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for Sub-Saharan Africa. A downturn in advanced economies and emerging markets, tighter financial conditions, and volatile commodity prices, […]