North Africa’s Economy
Morocco: Financial Authorities Probe Distressed Property Transactions, Money Laundering Concerns Grow
Moroccan financial intelligence authorities have intensified oversight of the real estate sector following a series of alerts from notaries and property professionals in major cities. Investigators are examining transactions involving stalled or distressed construction projects that were acquired through complex financial arrangements designed to clear debts and lift bank seizures. While the deals were formally compliant with tax and legal requirements, officials are assessing whether they were used to conceal illicit financial flows, with several cases now under in-depth review in coordination with domestic and foreign oversight bodies.
Algeria: Fuel Price Increase Triggers Brief Transport Disruption, Services Resume
Algeria began 2026 with a limited adjustment to domestic fuel prices, a move authorities say is necessary to secure supply and sustain distribution networks while maintaining state subsidies. The increase triggered a short nationwide transport strike, with taxi drivers and freight operators protesting higher operating costs and new road regulations. Following emergency talks with government officials, unions agreed to suspend the strike after commitments were made on fare revisions, legislative adjustments, and support measures, allowing transport services to resume ahead of the school reopening.
Tunisian Equity Market Posts Record Gains in 2025
Tunisia’s stock market ended 2025 with record-breaking gains, as rising corporate earnings, increased liquidity, and stronger investor participation pushed benchmark indices to historic highs. The rally, now extending into a fifth consecutive year, reflects growing confidence in listed companies and a gradual reallocation of domestic savings toward equities, even as broader economic challenges persist.
Algeria: Rail, Water, and Transport Drive 2026 Infrastructure Spending
Algeria’s 2026 finance law points to a renewed infrastructure investment cycle centered on rail transport, water systems, and national connectivity. With more than $10 billion allocated across rail, roads, ports, airports, and hydraulic infrastructure, the budget reflects a continued reliance on state-led capital spending to support industrial expansion, resource logistics, and regional integration. Major rail corridors linked to mining exports and southern connectivity underscore Algeria’s focus on long-horizon infrastructure assets, creating potential opportunities for contractors, equipment suppliers, engineering firms, and financing partners operating in large-scale public works.
North Africa Tests the Limits of Ride-Hailing as Uber Returns Under Tight Control
Ride-hailing has returned to the political agenda in North Africa, reopening questions governments have been trying to resolve for more than a decade. At the center of the renewed debate is the controlled return of Uber to Morocco, a move that reflects a broader regional recalibration rather than a shift toward liberalization. Inside the sector in Morocco, Egypt, Algeria, Tunisia and Libya.
Tunisia Shows Measured Economic Stabilization After Years of Strain
After several years of economic disruption, Tunisia recorded measurable signs of stabilization in 2025. Growth accelerated modestly, inflation eased, and key sectors such as agriculture, tourism, and services supported the recovery. Improved financial indicators, including stronger foreign investment and higher reserves, contributed to cautious optimism. At the same time, structural constraints, employment pressures, and external uncertainty continue to limit the pace of expansion. As Tunisia enters 2026 with a higher growth target, the central question is whether recent gains can be sustained and translated into durable job creation and long-term economic resilience.
Egypt Anchors Its Energy Strategy With Long-Term Israeli Gas as Israel Weighs the Trade-Offs
Egypt’s long-term gas import agreement with Israel secures critical supply at a time of domestic energy strain and regional instability, reinforcing Cairo’s role as an Eastern Mediterranean gas hub while exposing both sides to strategic and political trade-offs.
Aviation: Ryanair Picks Rabat as New Low-Cost Aviation Hub
Ryanair, Europe’s largest low-cost airline, plans to base aircraft in Rabat from 2026, positioning Morocco’s capital as a new entry point for European travelers and expanding air connectivity beyond traditional hubs.
Egypt Bets on Upstream Investment to Reverse Gas Production Decline
Egypt plans a major expansion of oil and gas exploration over the next five years as it seeks to stabilize natural gas output, restore export capacity, and integrate hydrocarbons into a broader energy transition strategy.
Business: As Relations With France Strain, Algeria Broadens Its Grain Suppliers
Algeria’s expanding wheat supplier list, including increased engagement with Canada, reflects a broader effort to reduce long-standing dependence on France as bilateral relations remain strained, turning food procurement into a quiet tool of economic recalibration.