North Africa’s Economy
Morocco’s argan industry in need of stimulus
By Kaouther Larbi: Morocco's argan oil is highly prized by the cosmetics industry, yet it is now mostly produced by elderly workers, raising questions about how long the artisanal practice can continue. A dozen women, sitting on the floor of a workshop inland from...
Tunisia looking to stabilize its economy with new development plan
The Tunisian government on Tuesday presented a three-year development plan that relies heavily on private sector investment, particularly in industry, and boosting phosphate production. The cash-strapped North African country is battling 10 percent inflation alongside...
Algeria makes baby steps to stimulate tourism sector, but just in the Sahara
Algeria will allow foreign tourists heading to its vast desert south to obtain visas on arrival, part of efforts to "promote tourism in the Sahara", the interior ministry announced Wednesday. In a statement, it said that "foreigners heading to the south of the...
Tunisia: While waiting for an international bailout, Tunisia looks to raise taxes to stay afloat
Tunisia's finance minister unveiled a budget Monday aiming to use new tax revenues to claw the deficit back to near five percent of GDP, as the cash-strapped country awaits an international bailout. The 2023 budget comes as the North African country grapples with...
Egypt: Suez Canal chief seeks to dispel fears over draft Egypt law
The chairman of Egypt's Suez Canal on Thursday affirmed the waterway is "not for sale", in a bid to allay fears over a draft law under discussion in parliament. On Tuesday the legislature approved in principle a bill proposed by the government seeking to establish a...
Algeria troubled by Europe’s gas price cap
Africa's top gas exporter Algeria on Tuesday spoke out against a European Union price cap on natural gas, saying it would threaten upstream investments. Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU...
While Algerian gas keeps flowing into Spain, trade between the two is frozen
By Valentin Bontemps: Six months after Algeria cut ties with Spain following a spat over disputed Western Sahara, trade between the two countries remains paralysed, much to the dismay of the worst-hit companies. With sales blocked, investment frozen and projects at a...
Morocco’s fertilizer export earnings to reach new records, used in diplomatic competition
By Ismail Bellaouali: A global fertiliser supply shock deepened by Russia's Ukraine invasion has brought boom times for the North African phosphate superpower Morocco and earned the kingdom new diplomatic capital. Rabat is using the leverage especially in the...
Egypt: Lawyers, pharmacists, doctors angry at new electronic invoicing system
In a rare public show of protest in Egypt, "thousands of lawyers" staged a demonstration at their union in central Cairo Monday, prominent lawyer Tarek al-Awady said. After a smaller protest was held Thursday, lawyers assembled again in droves Monday to protest a new...
European plane maker Airbus to pay less than 16 mil. euro to avoid corruption probe
A French judge on Wednesday allowed European aerospace firm Airbus to pay 15.9 million euros ($16.4 million) to avoid a corruption probe into aircraft deals in Libya and Kazakhstan between 2006 and 2011. Prosecutors from France's national financial crime unit (PNF),...