North Africa’s Economy
Egypt arrests 29 over alleged online crypto scam
Egyptian authorities have detained 29 people, including 13 foreigners, accused of running an online cryptocurrency scam that defrauded thousands of investors, state media reported Sunday. The network pocketed about $620,000 at the expense of its victims in the country...
Egypt to build high-speed rail link
French company NGE announced Thursday it had been awarded a contract to build Egypt's first high-speed rail link, a 330 kilometre section connecting the Mediterranean and Red Sea coasts. The link will form the first section of a 660 kilometre (410 mile) line that will...
Aviation: Post-Covid Africa remains lackluster market for Boeing and Airbus ($)
Over the past three years, African airline carriers have been dormant on the procurement front. The Covid pandemic and poor financials have been major stumbling blocks to the growth of the sector across the African continent. But the post-covid era has not stimulate...
Sahel: Burkina Faso junta issues decree to requisition gold from mining companies ($)
Burkina Faso is drowning in economic and financial hardship and the ongoing security environment mean that the country is looking for every possible avenue to find money. A country ruled by a junta that forced itself into power through a coup, without too many friends...
Algeria’s aid agency to spend US$1 billion on African development
Algerian President Abdelmadjid Tebboune said Sunday the North African nation will allocate a billion dollars to finance development projects across the continent through the Algerian Agency of International Cooperation for Solidarity and Development. The official APS...
Africa: Troubled African nations say they want to restore some “democratic” order
By Hillary Orinde: The African Union insisted on Sunday it had "zero tolerance" for undemocratic changes of power and vowed to push through a continent-wide free trade deal as it wrapped up a two-day summit. Leaders of the 55-nation bloc met in the Ethiopian capital...
Africa: Nigeria’s economy in Turmoil as country braces for a tense presidential elections
By Joel Olatunde Agoi: Like millions of fellow Nigerians, Rotimi Bankole says he wants to use Saturday's presidential elections to push for a better life in his oil-rich but crisis-ridden country. Double digit inflation, weak economic growth and mounting insecurity...
Construction of a Morocco-Spain tunnel under consideration but challenges abound
By Valentin Bontemps: In limbo for years, plans for a tunnel linking Spain and Morocco have been officially revived by Madrid and Rabat although the dream of an underwater rail link faces multiple obstacles. What is the project? The idea was first raised in 1979 by...
Egypt: Sisi visits India, paves way for greater bilateral cooperation
Egypt and India announced Thursday a "strategic partnership" to increase trade by billions of dollars and strengthen diplomatic ties, as President Abdel Fattah al-Sisi concluded a visit to New Delhi. Facing a worsening economic crisis, Egypt is scrambling to boost...
Energy: Libya says agreement on major gas development project reached with Italy’s ENI
Libya's National Oil Corporation said Wednesday it had reached an $8-billion deal with Italian energy giant ENI to develop offshore hydrocarbon sites. "We have reached a deal with ENI to develop the oil and gas sector, by developing two offshore sites which together...