First Independent Mena Newspaper
As the global economy sinks into another period of crisis, African currencies are depreciating against the US dollar and rising import costs are adding to inflationary pressures. With around half of all international trade invoiced in dollars, a stronger greenback hurts consumers across the world — including in Africa — that use dollars to pay […]
Only three African nations control about 56% of the continent’s total wealth, according to the 2022 Africa Wealth Report published by UK investment consultancy firm Henley & Partners in partnership with South African wealth intelligence firm New World Wealth. South Africa, Egypt, Nigeria, Morocco, and Kenya are Africa’s wealthiest countries. The first three countries possess […]
About one hundred Mauritanian companies took part Tuesday in Casablanca in the 2nd Moroccan-Mauritanian economic forum, a platform seeking to enhance dialogue and contacts between the business communities of the two countries. Organized by the General Confederation of Moroccan Enterprises (CGEM) and the National Union of Mauritanian Employers (UNPM), the forum was an opportunity for […]
Kenya has adopted a new pro-business stance towards Morocco, writes the Kenyan economic newspaper Business Today, in an analysis published on Saturday, following Kenyan President William Ruto’s decision to rescind recognition of the so-called ‘SADR’. The Kenyan newspaper recalls that the newly sworn President vowed to accelerate economic relations with Morocco and that a week […]
Barceló Group, a Spanish company specializing in hospitality and travel, plans to invest 47 million in the tourism sector in Morocco through the acquisition and renovation of several hotels in the Kingdom, a move that will diversify the tourism offer and stimulate private investment in the tourism sector. A memorandum of understanding to this effect […]
Pursuing continental self-sufficiency may not be an appropriate remedy for Africa’s weak position in agricultural supply chains, experts at the International Food Policy Research Institute (IFPRI) have warned. African countries must improve their transnational transport infrastructure or risk remaining vulnerable to shocks in global food supply chains, the team of experts have warned following the […]
Fuel prices soar to record levels as subsidies were removed in Kenya, while inflation in Ethiopia and Ghana hit record high — in both countries about 44%. In Kenya, fuel prices have risen once again after the government partially removed subsidies that cushioned consumers from the global hike in oil prices. The energy regulator said […]
Disruptions in food supplies caused by Russia’s war in Ukraine have deepened the struggles of millions of Africans to survive, more than 60 farmers’ associations from 11 Central African countries have warned. Calling on the region’s governments to help people cope with food shortages, the farmers say scarcity, high prices and a worsening economic situation […]
On the occasion of the tenth anniversary of the launch of its Tangier factory, Renault said it will start making super-mini electric vehicles there by 2023. The two-seat small urban car will be produced by Renault’s affiliate Mobilize in a bid to tap into a growing market of electric vehicles. The new car will be […]
Morocco’s olive oil exports rose to 13,000 tons, up 47% by August this year, amid a surge in demand and market disruptions, the agriculture ministry said. Sales stood at 456 million dirhams as demand from the European Union increased 3.6 times. Despite a significant drop in rainfall, total olive production this year is expected to […]