First Independent Mena Newspaper
According to data released by the National Institute of Statistics (INS), the inflation rate in October 2024 held steady at 6.7%. This overall stability reflects a mix of accelerating and slowing price trends across different categories. On one side, the rise in the inflation rate is driven by sharper year-on-year increases in the “restaurant, cafe, […]
Africa will play a “huge role” in America’s critical mineral strategy, says US Deputy Treasury Secretary Wally Adeyemo who used his five-day trip to South Africa to express his country’s ambitions of securing metals needed for the global energy transition. Africa’s natural richness, which includes many so-called critical minerals, such as chromium, cobalt, copper, gold, […]
As the Muslim holy month of Ramadan begins on Monday or Tuesday (11-12 March), depending on the sighting of the new moon, Muslims in parts of Africa are bracing themselves for more subdued celebrations amid soaring food prices and continuing violence in Sudan, Gaza and elsewhere in the continent. UN Secretary-General Antonio Guterres and the […]
Escalating attacks by Yemen’s Houthi rebels on ships in the Red Sea have not only unraveled a key global trade route, sending shipping and insurance costs soaring, but they are also threatening to again push up the cost of living in Africa that is already struggling with crippling debt. The Red Sea crisis and the […]
Global remittances from African diaspora to their home continent are set to exceed $100bn a year amid demographic trends in Europe such as an aging population and a low birth rate that are creating a need for continued migration. Remittances to low- and middle-income countries (LMICs) grew an estimated 3.8% last year, a moderation from […]
Moroccan banks’ profitability continued to recover strongly in 1st half of 2023, with aggregate net income reaching record levels, says Fitch rating agency, noting that the positive trend should continue in 2nd semester due to higher interest rates and loan book growth. The seven largest banks’ aggregate net income increased by 28% yoy in 1st […]
Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva said on Friday that price stability is “is a prerequisite for growth and it protects people, especially the poor.” This means the fight against inflation remains paramount. In her address at the plenary session of the 2023 annual meetings of the World Bank and the […]
Ahmed Hachani, Tunisia’s new Prime Minister swore in on Monday July 31 right after his appointment, before President Kais Saied, a few hours the latter fired the country’s first female Premier Najla Bouden. “There are great challenges that we must meet with determination and a strong will to preserve our homeland, our State and civil […]
Tunisia will witness a 2.3 per cent economic growth rate in 2023 and 2024, the African Development Bank (AfDB) announced Wednesday, as it presented its economic outlook for 2023. The Abidjan-based institution also projects inflation to stand at 8.8 per cent over the same period. The inflation figure is slightly higher than that of the […]
Investors are unloading Kenya’s dollar bonds due 2028, whose yields have climbed to 14.6% and the shilling has also trading at a record low, while opposition leader Raila Odinga’s Azimio La Umoja (Declaration of Unity) party has said protests against government policies would resume after Islam’s holy month of Ramadan, if no progress had been […]