First Independent Mena Newspaper
The African Development Bank (AfDB) has announced a contribution of $267 million to finance the implementation of the Priority Investment Program (PIP) of the G5 Sahel. The Priority Investment Program is a 14.8-billion-dollar program addressing development needs in governance, security, economic resilience, and infrastructure in the Sahel region. The program aims to improve the living […]
Travel and tourism remained one of the key growth drivers of Africa’s economy, contributing 8.5% of the GDP in 2018, equivalent to $194.2 billion. According to the 2019 Jumia Hospitality Report Africa, this growth record placed the continent as the second-fastest growing tourism region in the world, with a growth rate of 5.6% after Asia […]
The Norwegian government will provide Gabon with $150 million to fight deforestation, according to the Central African Forest Initiative (CAFI). Gabon which is almost 90 percent covered by forest will use the funds, to be disbursed over 10 years, to “both reducing its greenhouse gas emissions from deforestation and degradation, and absorption of carbon dioxide […]
After overtaking South Africa as the continent’s first car producer, Morocco is moving forward unseating Africa’s largest economy in terms of attractiveness to investments, said the Rand Merchant Bank in a recent report. The report shows that Morocco, with an expected growth rate of 4% in the medium term, has greatly enhanced its operating environment. […]
In Côte d’Ivoire, Banque Atlantique, a subsidiary of Morocco’s Banque Centrale Populaire Group, has provided a loan of 32.5 billion CFA francs to the Yamoussoukro road infrastructure rehabilitation project. The loan was attributed to FPO Africa, one of the leading local construction companies in Côte d’Ivoire as part of a public-private partnership (PPP) with the […]
A Moroccan energy efficiency project has been selected in an international competition to receive a €20 million funding from the NAMA Facility. The Moroccan project, Integration of energy efficiency in the building sector, has received a €20 million fund from the Nama Facility, an international climate finance program that seeks to encourage ambitious action on […]
Casablanca Finance City (CFC) and Barcelona Center Financer Europeu (BCFE) have sealed a cooperation agreement to enhance and tap investment opportunities between Spain, Morocco and Africa The deal lays the foundation for a sustainable cooperation that aims to promote investment opportunities between Spain, Morocco, Africa’s gateway. The Moroccan and Spanish financial centers pledge to set […]
Morocco will donate $3.3 million to the priority investment program of the G5 Sahel joint force tasked with fighting terrorists and insurgents in West Africa. The announcement was made at a G5 meeting in Nouakchott by director for Maghreb and African Union at Morocco’s foreign ministry Abderrazak Laassel who underscored Morocco’s firm commitment to regional […]
Algeria continues to lag behind in economic freedom according to a 2019 World Economic Freedom report by Fraser Institute, which underscored the lack of reforms in the oil rich country. The Canadian Fraser Institute pointed out to the plummeting economic freedom in Algeria, which ranked 159 out of 169 surveyed countries. Algeria only outperformed three […]
Swissport International has won an international tender launched by Morocco for ground handling services in 15 airports. Under the seven-year contract, the handling company pledges to provide best ground services in the airports of Agadir, Al Hoceima, Casablanca, Dakhla, Errachidia, Essaouira, Fès, Laâyoune, Marrakech, Nador, Ouarzazate, Oujda, Rabat, Tangier and Tetouan. The company vowed to […]