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Egypt sees about $1bn foreign inflows since rate boost

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Egypt received about $1bn in foreign inflows since the central bank raised interest rates by 200 basis points to curb inflation. The country had $448m in “foreign investment inflows” on Thursday and $400m on Sunday, state-run news agency MENA reported, citing Central Bank Governor Tarek Amer. He didn’t specify the form for the investments, but Egypt holds weekly Treasury bill ...

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Sudan: Minister of Trade Reviews With Egyptian Ambassador Ways to Overcome Impediments Facing Trade Between the Two Countries

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Minister of Commerce Hatim Al-Sir has discussed with the Egyptian Ambassador in Khartoum Osama Shaltout ways to overcome the obstacles facing the trade operations. The Minister of Commerce, during his meeting with the Egyptian ambassador to Sudan Wednesday, stressed keenness of the government of Sudan to develop relations with the Egyptian government and expand trade bonds to serve the peoples ...

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Tunisia: New Frontier for African Startups

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Tunisia is emerging as the next eHealth hub and may just give Kenya and South Africa a run for its mone It’s the age of the startup and the business savvy are identifying local solutions to global problems. The next big thing may be lurking in a small Kenyan back office or a Tunisian coffee shop – ready to join ...

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Nigeria, Morocco Sign Gas Pipeline, Fertilizer Deals

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Nigeria and Morocco on Monday strengthened their business relationship by signing two bilateral agreements in Rabat, Morocco. The first agreement was the Joint Initiative on the Morocco -Nigeria Gas Regional Pipeline. Tagged “The Wonder of Africa” the pipeline project has historical significance because it is designed by Africans for Africans with a direct impact on 300 million people through the ...

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Tunisia Army Deployed to Protect Oil and Gas Fields Against Economic Protests

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For the first time, troops in Tunisia are to be deployed to protect key industrial sites against protests, sit-ins and strikes. Poverty, unemployment and corruption are ongoing issues in the North African state. Announcing the deployment, President Beji Caid Essebsi said the troops would protect industrial sites being disrupted by general strikes and protests over poverty. “We know this is ...

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Rwanda: Egyptian Envoy Tips Local Exporters

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The business community should take advantage of the good trade relations between Rwanda and Egypt to create useful linkages and partnerships to expand market for locally-made products. According to Mazen Gaber Mousa, the deputy chief of mission at the Egyptian embassy in Kigali, such partnerships could help build capacity of local industrialists and boost the country’s export sector. He also ...

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Rwanda/Morocco: Rwanda, Morocco Sign New Deal On Infrastructure Development

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Rwanda Football Federation (Ferwafa) has signed a new agreement with the Federation Royal Marocaine de Football (FRMF) aimed at improving football infrastructure in the country. In a statement released on Saturday, Ferwafa president Vincent Nzamwita confirmed the development on the conclusion of a seven-day visit to Morocco on the invitation of his counterpart, Fouzi Lekjaa. The two sides discussed the ...

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Rwanda: Parliamentarians Review Rwanda, Morocco Double Taxation Bill

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Parliament’s Standing Committee on Foreign Affairs, Cooperation and Security yesterday met with a team from Rwanda Revenue Authority and the Ministry of Finance to discuss the Bill concerning the agreement on tax avoidance signed between Rwanda and Morocco. The agreement on the avoidance of double taxation and tax evasion regarding income taxes between the two countries was signed in October ...

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Egypt:IMF team in Cairo to review second instalment of $12-billion loan

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An International Monetary Fund (IMF) delegation will arrive in Cairo on Sunday to review Egypt’s progress on economic reforms before it disburses the second instalment of a $12-billion loan programme, the Finance Ministry said. The IMF delegation will stay until May 11 and meet with officials from the ministry and the central bank, the ministry said in a statement. Egypt ...

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Algeria:GE Power’s $3 bln deal creates hundreds of jobs

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GE Power, a division of General Electric Co, has signed a services deal with Algerian utility Sonelgaz SPE valued at more than $3 billion, the largest services agreement ever for GE Power and one that creates hundreds of jobs in Algeria, GE said on Monday. Under the 20-year contract with the subsidiary of Sonelgaz, GE will train more than 1,000 ...

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