North Africa’s Economy
Business: Production in four Libyan oil fields resumes
Production has resumed at four key oil fields in war-torn Libya after a three-week shutdown by gunmen linked to Libya's Petroleum Facilities Guard, the group said Tuesday. The PFG-affiliated fighters had closed the Sharara, Al-Fil, Al-Wafa and Al-Hamada fields in...
Business: Egypt says it earned more than $6 billion in Suez Canal transit fees
Egypt's Suez Canal Authority said the key waterway netted record revenues last year, despite the coronavirus pandemic and a six-day blockage by giant cargo ship the Ever Given. Connecting the Red Sea and the Mediterranean, the canal accounts for roughly 10 percent of...
Libya: Rival central banks reach deal to reunite
Libya's rival central banks said on Monday they had reached a reunification deal, seven years after they divided as conflict tore the country apart. The original bank, which manages the North African state's vast oil revenues, had been severed in 2014 when a complex...
Libya restores maritime link with Turkey after a 40-year break
A ferry set sail on Wednesday from the Libyan port of Misrata to Turkey's coastal city of Izmir, 40 years after the last passenger vessel plied the route. Libya has not been serviced by any international ferries for 25 years. Travel links with and within the country...
Tunisia seeks IMF support for a $4 billion loan
The IMF has received a request for aid from the new government in Tunisia and discussions over a new loan program have already started, the Washington-based crisis lender said Thursday. The North African country is facing a serious economic crisis that is discouraging...
Algeria: Series of audits unveils dismal practices and secrecy in public fund management
Operating outside of the democratic principals and without any legitimacy, the various regimes that governed Algeria managed the state money without any transparency. Billions of dollars have been spent in projects that often never saw the light of day. Government...
Egypt: The business of money-pooling apps in Egypt
By Hager Harabech Cash-strapped Egyptians fearful of banks have long relied on a "gameya" to access money in time of need, but now tech startups are cashing in on the age-old money-pooling association. Navigating an app with strangers is "easier and safer" than the...
Organic farming in the Maghreb: Tunisia ahead, Morocco trails, Algeria is far behind
By Kaouther Larbi and Françoise Kadri Proudly displaying her freshly picked pomegranates, Tunisian farmer Sarah Shili says going organic is "the future of farming" -- and as demand surges in North Africa and beyond, the sector is blooming. Shili runs Domaine Elixir...
Business: Dahbia gets international recognition for excellence in olive oil
By Abdellah Cheballah Hakim Alileche left a successful career in graphic design and moved to the Algerian countryside to produce "magic potion" -- organic olive oil that has won him international recognition. The 48-year-old says he chose the Ain Oussera plateau for...
As Tunisia runs out of cash, president calls on people to pitch in, not in direct TV speech but in cabinet meeting
President Kais Saied urged Tunisians on Thursday to help replenish state coffers and overcome the country's financial crisis. "I call on Tunisians both in Tunisia and abroad to find the necessary funds," he said at a cabinet meeting. He did not give details of how...