First Independent Mena Newspaper
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 […]
Mali has achieved a breakthrough in its push for greater control over its mineral wealth, with three gold producers — Endeavor Mining, Faboula Gold, and Bagama Mining — agreeing to operate under the country’s controversial 2023 mining code. Announced by Finance Minister Alousseni Sanou in a televised address, the agreement marks a rare win for […]
The World Bank has urged Mauritania to adopt decisive reforms to safeguard macroeconomic stability and promote more inclusive and sustainable economic growth. In a statement shared on social media, the Bank stressed the critical need for economic diversification, highlighting the overreliance on the mining sector as a major vulnerability. It recommended that revenues from mining […]
The African Single Electricity Market (AfSEM), an ambitious initiative to unify the continent’s electricity grids, is making substantial strides, according to African Union (AU) officials at a high-level technical meeting in Addis Ababa. AfSEM aims to create a seamless, affordable, and reliable continental electricity market, interconnecting all 55 AU member states. Kamugisha Kazaura, AU Commission’s […]
Tunisia’s economic prospects have taken a hit as the World Bank revised its growth forecast downward, projecting a modest 1.9% expansion in 2025, down from an earlier estimate of 2.2%. The outlook for the following years is even more subdued, with growth expected to slow to 1.6% in 2026 and 1.7% in 2027. The downgrade […]
African economies face an urgent need for coordinated responses to inflation threats that could destabilize social equilibrium, according to the World Bank’s latest Africa’s Pulse report. While the continent’s median inflation rate decreased from 9.8% in 2022 to 4.2% in January 2025, significant disparities persist. The interquartile range of inflation rates has widened from 6% […]
In a notable development signaling Libya’s return to the international economic stage, the Tripoli-based Government of National Unity (GNU) has formalized a partnership with the World Bank through a Memorandum of Understanding (MoU) signed in Washington, D.C. The agreement, focused on rebuilding institutional frameworks and accelerating reform efforts, marks a key turning point after years […]
The World Bank approved the “DREAM” project, a major initiative aimed at supporting the development of energy resources and the mineral sector in Mauritania. With a funding of $82.5 million, the project is set to enhance the country’s energy infrastructure by developing electricity storage systems, advancing battery technology, and fostering the growth of green hydrogen. […]
Sub-Saharan Africa remains the world’s most expensive region when it comes to transferring remittances, with an average cost of transferring money of 8.37% in the second quarter of 2024, according to the World Bank’s most recent report. This cost remains significantly above the global average, despite the increasing importance of remittances in the region’s economies. […]
The World Bank has highlighted Morocco’s efforts to transform the agrifood system into a more climate-resilient, inclusive, and sustainable model that produces safe and healthy food. The Kingdom “is implementing a multi-faceted program to promote sustainable agriculture, boost irrigation in drought-prone areas, and make agriculture an attractive proposition for young people,” the Washington-based institution pointed […]