First Independent Mena Newspaper
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 […]
The African Development Bank (AfDB) will support the first phase of Egypt’s Private Sector Development and Economic Diversification Program. This comes under a $131 million agreement with the Egyptian Government and is part of a broader effort to strengthen Egypt’s economy and improve the business environment. This initiative aligns with the government’s strategy to enhance […]
With the two-term tenure of African Development Bank (AfDB) president Akinwumi Adesina coming to an end by May 2025, a total of eight candidates, including from South Africa, Algeria, Senegal, Zambia, and Mauritania, are in race to succeed him. The race is beginning to heat up with candidates across Africa declaring their intention to replace […]
The African Development Bank (AfDB) has extended Morocco a €104.7 million loan to boost the water sector in the Kingdom. The funding is destined to speed up the digitalization processes of the National Office for Electricity and Drinkable Water (ONEE), boost drinking water production in several urban areas (Asfalou, Bouhouda and Agourai), and improve the […]
Morocco’s railway operator ONCF has presented a “strategic” plan to expand the service for a total cost of 8.8 billion dollars, in a project that drew interest of investors offering up to 14 billion dollars, head of the African Development Bank chief Akinwumi Adesina said. The project was a “big success” for Morocco, Adesina said […]