First Independent Mena Newspaper
The Board of Directors of the African Development Bank has approved a $1 billion exposure exchange with the Asian Development Bank that aims to strengthen their capital adequacy levels and boost their lending capacity. The transaction, sealed last week, will support AfDB efforts to unlock additional sovereign lending headroom. It will also bolster continued efforts […]
As China levies export controls on two critical minerals, gallium and geranium, from August, for US industry dependent upon reliable supply chains, Africa represents a key opportunity for American interests, according to Ned Rauch-Mannino, a former co-chair for the White House’s Prosper Africa initiative. The restrictions imposed on access to these two critical minerals mark […]
Saudi Arabia will give Tunisia $500 million as a soft loan and a grant to help improve its public finances with the national budget suffering a $2-billion deficit, the Saudi state-run news Agency SPA reports. Tunisia is facing an acute economic crisis compounded by the pandemic coupled with a tense domestic political crisis. The North […]
The Democratic Republic of Congo (DRC) and the United Arab Emirates (UAE) have signed a mining deal worth $1.9 billion for which the Gulf country will develop several mining fields. The deal was signed Monday with state miner “Société Aurifère du Kivu et du Maniema”, “Zawya” reports, citing a statement from the Congo’s President Felix […]
King Mohammed VI has said that Israel’s “important” decision to recognize the sovereignty of Morocco over its Sahara and to favorably consider the opening of a Consulate in the city of Dakhla is “both just and far-sighted.” This came in a message that the Sovereign has addressed to the Prime Minister of Israel Benyamin Netanyahu. […]
The Israeli recognition of Morocco’s sovereignty over the Sahara continues to reverberate positively among the Israeli political class and Western pundits as a major turning point towards the diplomatic end of an artificial-conflict that has long-lasted. Right after the letter by Prime Minister Netanyahu to King Mohammed VI announcing the new position in support of […]
Morocco received the agreement in principle to obtain the status of Sectoral Dialogue Partner from the Association of Southeast Asian Nations (ASEAN), at the 56th meeting of foreign ministers of member countries held on July 11 and 12, 2023, in Jakarta, Indonesia. Morocco, the first African country to benefit from this status, aims through this […]
Morocco has scored a major win in its defense of its territorial integrity with the Israeli outspoken recognition, adding to the vocal support of Washington and other Western capitals. The Israeli decision was announced in a letter to King Mohammed VI from Prime Minister Benjamin Netanyahu who said his country also “considers positively” opening a […]
East Africa Commercial and Logistics Center is expected to open in Tanzania’s capital city, Dar es Salaam, in June 2024, providing trade and investment opportunities for the public. Speaking at the 47th International Trade Fair that was recently held in Tanzania, Executive Director at Taikang Asset Management, Cathy Wang, said that to facilitate and add […]
Emirati Invictus Investment Company has announced plans to invest over $272 million on its expansion into North and East Africa with a focus on Morocco thanks to its political stability, geostrategic position, incentives to investors and competitive economy. In a press release issued Monday, the Dubai-based company said the expansion will be made through acquisitions […]