North Africa’s Economy
Algerian authorities confronted with localized labor unrest, escalation in 2017
While the Algerian authorities continue to focus a great deal of attention and resources on preventing attacks from Islamic militant groups, the erosion in state revenues is forcing them to push for new austerity measures that are creating a lot of tension nationwide....
More Belt-Tightening Ahead for Algeria
The North Africa Journa: October 2, 2016: Algeria continues to seek cost containment measures, with growing expectation of fuel price increases in 2017 aimed at reducing the projected budget deficit of $2.6 billion. There is also pressure on the government to freeze...
Tunisia in Retrospect and the Tough Choices Ahead
In one year, Tunisia has been tormented by no less than five large scale, dramatic terrorist attacks all perpetrated by the Islamic State. It all started on March 18, 2015, the day that two « lone wolves » stormed the Bardo museum of Tunis and opened fire on a group...
BP and Statoil Reducing their Staffs in Algeria: Consequences on Business Continuity
Although the recent terror attempt on an Algerian gas site, signed by Al-Qaeda in the Islamic Maghreb (AQIM) caused no physical damage, it has had without any doubt some psychological impact on jittery companies and on authorities scrambling to secure the area....
With Peugeot-Citroen Joining Renault, Oran becomes the Capital of Algeria’s Car Assembly Business
Although the companies have not made a formal announcement yet, the Wali (governor) of Oran in western Algeria says his province will be home of a new Peugeot-Citroën auto assembly plant. The plant is even scheduled to be located the municipality of el-Hamou. If the...
Insurance firm Zurich exiting the Moroccan market
Swiss insurance firm Zurich Insurance is considering exiting the Moroccan and South African markets amid a deteriorating business environment. The company is reportedly unable to generate profits from these units, and a substantial erosion of its global business...
Tunisia’s Crises
Tunisia is facing a multi-faceted crisis, top of which is the ongoing unemployment protests that highlight the weakening of the Tunisian economic system and the eroding social safety nets. MEA Risk data for the period of February 01, 2016 to February 07, 2016, shows...
Oil prices & the impact on Sovereign Wealth Funds Libya as a case
By Omar Khattaly: The drop in oil prices in the last 12 months has taken markets and investors by surprise. State institutions such as Sovereign Wealth Funds (SWF) have been affected and state budgets have suffered. SWF will grow slowly and in many cases will see some...
As Terror Becomes Part of the “New Normal” in Tunisia, Business Learns to Cope with the Terror Risk
The recent terror attacks on two hotels in Sousse and in the Bardo Museum in Tunis had a direct negative impact on the critically important tourism industry. Bookings were canceled, so did the flights that linked Tunisia to Europe, affecting thousands of jobs amid...
Algeria Hard Currency Reserve Stood at $179 Bil in Dec 2014, Down 7.8% Year on Year
Algeria’s political and economic leaders have a big problem. The country’s foreign currency reserves stood at $178.9 billion at the end of December 2014. That’s not a bad number except that it fell 3.5% sequentially in just one month, which is compared to November...