First Independent Mena Newspaper
World leader in home appliances, Bosch, signed a memorandum of understanding with Morocco’s industry ministry to create an industrial cluster in Morocco to supply its plants in Europe. The new Bosch suppliers in Morocco will help create 2000 jobs and achieve an export value of 1.6 billion dirhams in 2023, said Morocco’s industry ministry in […]
The International monetary fund said Morocco could post a growth rate of 4.5% in 2024 from 3% in 2018 if it continues on path of reform and inclusive growth. “Morocco’s medium-term prospects remain favorable, with growth expected to reach 4.5 percent by 2024” the IMF said in a report following Article IV consultations. The North […]
Ethiopia will receive $100 million from the UAE Khalifa Fund for Enterprise Development, KFED, to help promote a culture of innovation and finance prominent projects in the African country. The new agreement, which was signed by Hussain Jasim Al Nowais, chairman, KFED and Admasu Nebebe, Ethiopian Minister of Finance, will help enhance innovation and support […]
In Ghana, the Green Climate Fund (GCF) has announced a $20 million grant to the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA), a program for a climate action project to support women-led farmers’ associations and micro, small and medium enterprises in Ghana’s agricultural sector. The AFAWA Ghana project is designed to […]
The number of tourists visiting Morocco between January and May 2019 increased 4.6% to 3.5 million compared with the same period last year. International tourist arrivals rose 1% while Moroccans living abroad visiting their homeland dropped 8%, the tourism ministry said in its latest statistics. Analysts said that the number of foreign tourists and Moroccans […]
Tunisia Wednesday said it succeeded in raising 700 million euros on the financial bond market with an interest rate of 6.37 per cent as it sought to borrow money to cover its 2019 fiscal budget deficit. The ministry of finance in a statement said the North African country will reimburse the bond over seven years. […]
The African Union summit in Niamey brought together heads of state in the continent to launch a continental free-trade zone that, if successful, would unite 1.3 billion people and create a $3.4 trillion economic bloc. So far, 54 African State agreed on the accord setting up the African Continental Free Trade Area (AfCFTA), which would […]
Morocco reported a surplus for the fourth consecutive year in its trade with Africa although its exports dropped 2.4% in 2018. Morocco exported 21.57 billion dirhams in goods to Africa in 2018. The continent takes 7.8% of Morocco’s exports. Over four years, Morocco’s exports to Africa grew 29% while imports dropped 5% as the Kingdom […]
Already one of the biggest arms importers in Africa, Morocco has multiplied contacts with international partners to develop its own military industry in a bid to curb imports and boost independence as well as ensure technology transfer. Moroccan papers announced lately that the first armament factory will be launched soon in the country as a […]
At least 50 people were killed in Nigeria when fuel from a crashed truck that they were siphoning up caught fire, local media reported. The incident happened on Monday afternoon after a fuel tanker trying to avoid a pothole overturned and fell off the road in Ahumbe village in Benue State, according to a spokesman […]