First Independent Mena Newspaper
On December 3, the Central Bank of Egypt (CBE) announced that Kuwait has agreed to extend a $2 billion deposit for an additional year. Originally set to mature in April 2024, the deposit will now mature in April 2025, according to the CBE’s latest external position report. This decision provides Egypt with crucial financial breathing […]
Sudan is stepping back from economic ties with the United Arab Emirates, with Government sources indicating early this week that Sudan may soon terminate multiple investment agreements with Abu Dhabi. This move, according to Sudanese officials, is driven by what they see as UAE interference in Sudan’s internal affairs, particularly through alleged support for the […]
The DRC, Kenya and Uganda have been ranked by the latest edition of the Africa Risk-Reward Index 2024 as the riskiest investment destinations in East Africa, largely blamed on political, social and economic threats, while Rwanda stands out as the safest investment destination in the region. This authoritative report has been recently launched by the […]
On Wednesday September 11, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported an increase in Egyptian exports to Germany. In the first half of 2024, Egyptian exports to Germany totaled $463 million, up 11% from $417 million during the same period in 2023. Egyptian imports from Germany also rose, reaching $2 billion in […]
Morocco and south Korea are heading towards the establishment of a legal framework on trade and investment, with the aim to conclude an Enhanced Partnership Agreement (EPA). This was stated in a joint communiqué that was signed in Seoul by the Korean Minister of Trade Inkyo Cheong and Moroccan Foreign Minister Nasser Bourita, who participated […]
The European Union remains the world’s biggest contributor of ‘Aid for Trade’, committing over €18 billion in 2021, with Africa being the largest recipient of EU Collective Aid for Trade, followed by Asia and Europe, according to the latest EU Aid for Trade Progress Report. This amount represents 47% of all Aid for Trade originating […]
Sudan has dismissed all reports of Iran’s intention to establish a naval base on the country’s Red Sea coast, which comes at a time when the creation of the Russian Navy in the country has been postponed indefinitely due to the ongoing fighting. Sudanese Minister of Foreign Affairs Ali Al-Sadiq Ali was quoted by Sputnik […]
Sub-Saharan Africa’s investment in renewable energy needs to be boosted five-fold to meet the commitment of increasing global clean energy capacity to 11,500 gigawatts by 2030, according to a recent study. At COP28, governments reached a consensus to triple global renewable energy installations by 2030, to cap global warming at 1.5°C. But for Sub-Saharan Africa […]
The United Kingdom should support Morocco’s Autonomy Plan offering a workable solution to the Sahara issue, says a leading UK defense and security think-tank. The Moroccan Autonomy Plan “remains the only credible, lasting, realistic and constructive solution” to the Sahara conflict, says a report by the Royal United Services Institute (RUSI). Following a paralyzing impasse […]
The chair of the African Union Commission (AUC) has welcomed Italy’s plan to strengthen relations between Europe and Africa that also includes a proposal to swap Europe’s energy investment for African efforts to curb migration but says ‘we are not beggars’. Italy’s far-right Prime Minister Giorgia Meloni hosted a one-day Italy-Africa summit on Monday (29 […]