First Independent Mena Newspaper
There is an urgent need for global action to address the fertilizer crisis, most importantly by keeping the fertilizer market open to meet global demand and to avoid a food availability crisis, says a latest study issued by the World Trade Organization (WTO) and United Nations Food and Agriculture Organization (FAO) on 14 November. The […]
This year’s African Investment Forum (AIF), the continent’s premier investment platform, attracted a record $63.8bn in investment pledges for infrastructure projects, but experts warn of historically low success rates in bringing projects into fruition. The vast networking event brings together African entrepreneurs, decision-makers, bankers. In 72 hours, the African Development Bank (AfDB) and its partners […]
The overwhelming majority of Colombian senators are standing united against leftist President Gustavo Petro, challenging his decision to restore ties with self-proclaimed separatist entity “SADR”, which is armed, funded and hosted by Algerian junta. In a joint statement adopted Tuesday, 62 senators, out of 108 members of the Parliament lower house, backed the decision of […]
Sub-Saharan Africa’s economic activity is expected to slow significantly in 2022 and remain relatively modest in 2023 and looking ahead, the outlook remains highly uncertain, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for Sub-Saharan Africa. A downturn in advanced economies and emerging markets, tighter financial conditions, and volatile commodity prices, […]
Morocco’s central bank has hiked its key rates by 50 basis points to 2% to tame a soaring inflation, but this measure alone is not enough to tackle inflation according to central bank governor Abdellatif Jouahri. “The job of the central bank is monetary policy but growth is the job of the government,” he told […]
The next 12-18 months will be “very difficult” for African banks as widespread inflation, currency devaluations and interest-rate hikes sweep the region, a senior director of credit ratings agency Fitch said on Wednesday (21 September). African economies have struggled over the last year in the face of external forces including lingering effects from the COVID-19 […]
Lingering effects of the Covid-19 pandemic and the Russia-Ukraine war pose huge challenges to the continent, a recent African Economic Outlook report by the African Development Bank (ADB) concluded. As the war in Ukraine and coronavirus pandemic continue to bite, pushing millions of Africans into extreme poverty, locals are hoping initiatives by the ADB and […]
The rising price of basic foods is worsening South Africa’s food security crisis which could increase social instability and spark a repeat of the devastating July 2021 unrest that spiraled out of control. Meanwhile, in Uganda, people in the eastern city of Jinja have taken to the streets protesting the rapidly rising cost of living. […]
The World Bank has released $100 million for the World Food Program to tackle “deep food insecurity” for 2 million people in Sudan. The Washington-based institution in a statement said the funds will help provide an “emergency safety net” amid worsening hunger in the northeast African nation “caused by a poor harvest and rising international […]
Morocco’s growth will be limited to 1.3% only in 2022, down from 7.9% last year, due to external shocks and drought, Morocco’s statistics agency HCP said. While highlighting the uncertainties surrounding the global economic outlook, the agency expected Morocco’s economic growth to recover to 3.4% next year on the back of a higher agricultural […]