First Independent Mena Newspaper
A new report from the African Development Bank (AfDB) warns that 21 out of 54 African currencies are projected to depreciate against the U.S. dollar in 2025, highlighting continued economic vulnerability across the continent. Major economies like Nigeria, Egypt, Ethiopia, and Ghana are expected to see currency losses of 6% or more, driven by declining […]
Morocco’s economic growth is expected to increase from 3.2 % in 2024 to 3.9% in 2025, driven by robust domestic demand, particularly by investment, the momentum of non-agricultural activities, and the prospect of a better crop year, according to latest African Development Bank report. In 2026, the Bank forecasts a 3.7% growth in the country […]
Africa’s economic growth is expected to hit 3.9% in 2025, up from 3.3% in 2024, but still lower than previously projected, according to the African Development Bank (AfDB). In its latest African Economic Outlook report, released during its ongoing annual meeting in Côte d’Ivoire, the Bank downgraded its forecast by 0.2 percentage points, citing uncertainty […]
As Akinwumi Adesina prepares to step down after a transformative decade as President of the African Development Bank (AfDB), five candidates from across the continent are competing to succeed him in an election set for 29 May in Abidjan, Côte d’Ivoire. Five contenders — Swazi Tshabalala (South Africa), Amadou Hott (Senegal), Samuel Munzele Maimbo (Zambia), […]
Morocco has established a new civil engineering benchmark for Africa with the groundbreaking perforation of the Al Massira dam, addressing increasing water stress in the Marrakech region, according to the African Development Bank (AfDB). Engineers successfully drilled through Morocco’s second-largest water reservoir, with a capacity of approximately 2.6 billion cubic meters, to create a new […]
The African Development Bank (AfDB) has reaffirmed its commitment to fostering regional integration through the development of key infrastructure corridors across the continent. AfDB chief Akinwumi Adesina has recently emphasized the critical role these corridors play in reducing transport costs, improving market access, and stimulating economic growth. During a meeting with Kenya’s Ambassador to Côte […]
Russia significantly boosted its agricultural exports to Africa in 2024 by 19%, reflecting the country’s growing economic influence across the continent amid the continuing war in Ukraine. During the previous fiscal year, Russia’s agricultural exports to Africa surpassed $7 billion, according to a statement released by the Agricultural Export Center (Agroexport), with Egypt, Algeria, and […]
A new report from the African Development Bank (AfDB) underscores Africa’s impressive economic recovery, highlighting the continent’s resilience, growth, and the impact of bold reforms. With a projected GDP growth from 3.2% in 2024 to 4.1% in 2025 and 4.4% in 2026, Africa is now the second-fastest-growing regional economy globally, trailing only Asia. This growth […]
The African Development Bank (AfDB) has partnered with the International Criminal Police Organization (INTERPOL) to enhance efforts in fighting financial crime and corruption across Africa. The two organizations signed a Letter of Intent last week to strengthen their collaboration in tackling illicit financial flows, cybercrime, and money laundering. This partnership is the first for a […]
This year, Africa is poised for modest economic growth, with recovery driven by the continent’s major economies, says a new UN report, with the AfDB projecting an annual growth rate of 4.3%, up from 3.7% last year. Nigeria, Egypt, and South Africa are expected to spur economic growth on the continent in 2025, according to […]