First Independent Mena Newspaper
Mauritania must accelerate economic diversification to achieve its ambition of becoming an upper-middle-income country by 2050, the World Bank said in a report published on Nov 24, citing the limits of a development model driven by extractive industries. “The extractive-led growth path is reaching its end,” the Bank said, noting that while Mauritania posted an […]
Morocco and the World Bank maintain a robust strategic partnership dedicated to advancing the kingdom’s development objectives, World Bank Vice President for the Middle East, North Africa, Afghanistan and Pakistan (MENAAP) region Ousmane Dione emphasized during a Tuesday conference in Rabat. Speaking at the launch of the MENAAP economic bulletin titled “Jobs and Women: Untapped […]
The World Bank Group supports Morocco in its vision for a new generation of territorial development programs, launched under the guidance of King Mohammed VI, said the International Finance Corporation (IFC) Regional Director for North Africa, Cheick-Oumar Sylla. “Morocco’s vision for a new generation of territorial development programs offers a key opportunity to deepen the […]
Morocco has solidified its position as a regional financial and commercial hub for Africa, with Casablanca Finance City ranking as the continent’s leading financial center, according to a recent World Bank analysis highlighting the nation’s strategic economic transformation. The World Bank report emphasizes Morocco’s decade-long implementation of comprehensive financial market reforms designed to enhance efficiency, […]
Somalia’s government has firmly denied allegations that it entered into a secret agreement with Sweden to accept deported Somali nationals in exchange for redirected development aid. In an official statement, the Office of the Prime Minister rejected claims that Somalia received $9 million in Swedish aid as part of a covert deal. There is “no […]
Rabat, Morocco’s capital city, will host the new regional headquarters of the World Bank, according to local press report. The move strengthens the Kingdom’s economic attractiveness and position as a gateway to African markets. Morocco has gained the trust of the World football governing body for hosting FIFA Africa Office. The World bank followed suit, […]
Sub-Saharan Africa’s economy is expected to grow by 3.8% in 2025, a modest but meaningful rebound driven by easing inflation, stabilizing currencies, and improving investment conditions, according to the World Bank’s latest Africa Pulse report released Tuesday (7 Oct). The forecast marks an upgrade from April’s 3.5% projection and reflects renewed optimism in key economies […]
Niger’s Prime Minister Ali Mahaman Lamine Zeine delivered a scathing address at the United Nations General Assembly, accusing France of actively undermining his country’s sovereignty through what he called a “sneaky and subversive destabilization plan.” Zeine alleged that since French troops were expelled from Niger in 2023, Paris has been “training, financing, and equipping terrorists” […]
The African Union (AU) is calling for a global map correction, challenging the centuries-old Mercator projection that drastically shrinks Africa’s size and influence in global perception. Backed by advocacy groups Africa No Filter and Speak Up Africa, the ‘Correct The Map campaign urges the adoption of the 2018 Equal Earth projection to accurately reflect the […]
Misjudged risk assessments and persistent financial bias are costing African countries a staggering $75 billion annually in inflated borrowing costs and lost revenues, according to the Africa Finance Corporation (AFC). AFC President Samaila Zubairu described the misperception as a “prejudice premium,” arguing that Africa’s default rates are “really, really exaggerated.” Research by Moody’s Ratings supports […]