North Africa’s Economy
In-Depth: Algeria’s gas sector facing internal woes and aggressive competition from Qatar
By Arezki Daoud: Algeria could have benefited from Russia’s war on Ukraine to maximize its revenue potential from exporting gas to a tense European market. But troubled by an unprecedented political crisis and a rocky presidential transition at home, Algeria’s leaders...
Egypt: Facing crippling economic crisis, Egypt says it will sell dozen state companies
Egyptian Prime Minister Mostafa Madbouli announced Sunday a string of planned privatisations of state-owned companies, as Cairo grapples with an economic crisis and inflation at almost 15 percent. Following years of accusations of state companies crowding out private...
From spikes in food prices to canceled flights, Russia’s war on Ukraine is hitting Africa hard
By Patrick Markey and Joel Olatunde Agoi From airlines in Nigeria to shoppers in Malawi, Africans are feeling the impact of the Ukraine crisis in wrenching increases in the price of fuel, grain and fertiliser. Global oil prices scaled decade-long highs of more than...
Egypt: Price of subsidized bread up by as much as 50% in Egypt, threatening stability
By Bassem Aboualabass Soaring bread prices sparked by Russia's invasion of Ukraine have bitten into the purchasing power of consumers in Egypt, a leading importer of wheat from the former Soviet states. For the first time since he took office, President Abdel Fattah...
Morocco: Three-day strike in the transport sector over skyrocketing fuel price
Moroccan truck drivers are observing a three-day strike in protest at spiralling fuel costs, a union said Tuesday, as oil prices spike over Russia's war in Ukraine. Around three quarters of drivers are observing the strike, said Mounir Benazouz of the SNPTR truckers'...
Libya: Militia ends siege of oil fields, production in Al-Sharara field resumes
Libya's National Oil Corporation said Tuesday that an armed group blockading two major oil fields had lifted its siege and that production had resumed at one of them. The NOC had announced the suspension of production on Sunday at the vast Al-Sharara and Al-Fil...
MENA region confronted with dangerous wheat supply crisis
By Sarah Benhaida Russia's invasion of Ukraine could mean less bread on the table in Egypt, Lebanon, Yemen and elsewhere in the Arab world where millions already struggle to survive. The region is heavily dependent on wheat supplies from the two countries which are...
Algerian oil firm Sonatrach to resume operations in Libya
Algerian oil and gas giant Sonatrach said Thursday it had signed a deal with Libya's National Oil Corporation to restart its operations in the war-torn nation. The Algerian group announced the deal during a visit to the neighbouring North African country by its...
Mali’s new leaders are unflinching in face of economic turmoil
By Amaury Hauchard: Mali's ruling military junta has appeared unflinching so far in the face of economic sanctions imposed a month ago by the country's West African neighbours, despite indications the measures are beginning to bite. In response to the junta postponing...
Energy: Morocco secures gas supply from Spain
Spain on Thursday said it would help Morocco ensure its energy security by allowing it to transport supplies through the Maghreb-Europe gas pipeline (GME) following a supply crisis with Algeria. "Morocco has asked for support to guarantee its energy security on the...