Morocco’s trade deficit shrinks in 2023 following record exports – The North Africa Post
Morocco’s trade deficit shrank 7.5% in 2023 thanks to a record performance by the tourism and automotive sector and higher remittances from Moroccans abroad. The deficit stood at 286 billion dirhams following a drop in imports to 715 billion and an increase in exports to 429 billion dirhams. Morocco’s phosphates and derivatives exports fell 34% to 76 billion dirhams, a performance that was offset by strong sales by other sectors. The automotive sector in particular posted a record $14.1 billion exports, while tourism receipts jumped 11.7% to $10.4 billion. Remittances grew to a record $11.5 billion, up 4%, a growth that was also reflected in the inflow of foreign direct investments.
Source:The North Africa Journal
February 06, 2024 18:20 UTC
South Africa’s attempt to be a “stakeholder” in Sahara Conflict described as “strange” & “inappropriate” – The North Africa Post
The latest attempt by South Africa to gain international prominence by trying to transform itself into a “stakeholder” in the Sahara conflict was described as strange and untimely. This came in comments by the International Committee for Dialogue and Peace on South Africa’s invitation to the UN Secretary-General’s Personal Envoy for the Sahara, Staffan de Mistura. It is therefore necessary to respect the process for settling conflicts and disputes, dealt with within the framework of the United Nations, as is the case for the Western Sahara conflict. The Committee made it clear that the United Nations has clearly defined the stakeholders directly involved in the conflict resolution process: Morocco, Algeria, Mauritania and Spain. Neither the African Union nor South Africa are actors in this conflict.
Source:The North Africa Journal
February 06, 2024 18:20 UTC
Tunisia Inaugurates First 1 MW Solar Power Plant In Djerba For Sustainable Energy
Secretary of State for Energy Transition, Wael Chouchane, inaugurated the inaugural photovoltaic solar power plant in Djerba, Tunisia’s southeast. This 1 MW plant, situated in the Ajim delegation, is expected to supply electricity to 500 households, contributing to the reduction of greenhouse gas emissions. With a 3 million dinar investment, the station spans 1.5 hectares and comprises around 2,000 solar panels, each with a capacity of 510 watts. The electricity sale price by STEG is set at 200 millimes, compared to the 300 millimes cost of producing electricity from natural gas. This project aligns with Tunisia’s national strategy to boost renewable energy production, aiming for 35% of electricity from renewables by 2035.
Source:The North Africa Journal
February 06, 2024 18:17 UTC
Global Logistics Execs see coming Surge of African Investment
Nearly 62% of global logistics professionals say their companies are planning additional or first-time investments in Africa, according to a closely watched yearly industry survey. The survey of 830 logistics executives is part of the 15th annual Agility Emerging Markets Logistics Index (https://apo-opa.co/4bD4lSW), a snapshot of industry sentiment and ranking of the world’s 50 leading emerging markets. Emerging markets – the largest percentage sees increased risk/decreased rewards in emerging markets. Businesses need to be alive to the opportunities and threats that exist in emerging markets and use data, such as that the Agility Emerging Market Logistics Index, to inform agile decision-making.”2024 Agility Emerging Markets Logistics Index: https://apo-opa.co/3SlOmzKDistributed by APO Group on behalf of Agility. Other Agility companies offer customs digitization services, remote-site infrastructure services, defense and government services, and ecommerce-enablement and digital logistics.
Source:The North Africa Journal
February 06, 2024 16:42 UTC
Logistics Execs Wary of 2024 Recession and Overreliance on China
Half of the 830 industry professionals surveyed for the 2024 Agility Emerging Markets Logistics Index expect a global recession in the coming year – down from nearly 70% a year ago. The survey and Index are Agility's 15th annual snapshot of industry sentiment and ranking of the world's 50 leading emerging markets. Emerging markets – the largest percentage sees increased risk/decreased rewards in emerging markets. Businesses need to be alive to the opportunities and threats that exist in emerging markets and use data, such as that the Agility Emerging Market Logistics Index, to inform agile decision-making." 2024 Agility Emerging Markets Logistics Index: agility.com/2024indexAbout AgilityAgility is a global leader in supply chain services, infrastructure, and innovation with 45,000+ employees across six continents.
Source:The North Africa Journal
February 06, 2024 12:10 UTC
10x Banking's African Expansion: Unlocking Financial Inclusion - IT News Africa
10x Banking, founded by former Barclays CEO Antony Jenkins, partners with Old Mutual to expand into Africa, meeting growing demand. Starting in South Africa to drive financial inclusion by developing new products for unbanked populations. 10x sees increasing global interest, including from banks in India, Sri Lanka, Vietnam, and the USA, planning collaborations in other regions. Old Mutual aims to serve underserved bank account holders, addressing the barrier of financial literacy across the continent through a customer-centric approach. “In Africa, the big driver is digital,” commented 10x founder and CEO Antony Jenkins.
Source:The North Africa Journal
February 06, 2024 11:49 UTC
Athens to welcome AirArabia, the largest Low-cost carrier in the Middle East and North Africa
Athens to welcome AirArabia, the largest Low-cost carrier in the Middle East and North AfricaAirArabia will connect Sharjah with Athens, 4 times weekly in Summer 2024On the 26th of January 2024, AirArabia announced the addition of Athens to its network. Overall, demand for travel between UAE and Athens further grew and Aegean Airlines launched its first direct service to DXB on November 2023. Based on AirportIS O&D traffic data, passenger volumes between UAE and Athens grew by 22% in the period Jan-Nov 2023, compared to the same period in 2019. AirArabia is entering the Athens market to capture a significant share of the traffic and further stimulate the market, with its 4 weekly non-stop service from/to Sharjah. Our warmest wishes to our airline partner for full and safe flights and further development in the Athens market.
Source:The North Africa Journal
February 06, 2024 11:23 UTC
Israel-Hamas War Underscores Egypt’s Indecisiveness
Hilal Khashan is a Professor of political science at the American University of Beirut. He is a respected author and analyst of Middle Eastern affairs. He is the author of six books, including Hizbullah: A Mission to Nowhere. He is currently writing a book titled Saudi Arabia: The Dilemma of Political Reform and the Illusion of Economic Development. He is also the author of more than 110 articles that appeared in journals such as Orbis, The Journal of Conflict Resolution, The Brown Journal of World Affairs, Middle East Quarterly, Third World Quarterly, Israel Affairs, Journal of Religion and Society, Nationalism and Ethnic Politics, and The British Journal of Middle Eastern Studies.
Source:The North Africa Journal
February 06, 2024 11:09 UTC
AFCON: Nigeria may face South Africa minus its star player
Nigeria could go into its Africa Cup of Nations semifinal match against South Africa on Wednesday without its star player, Victor Osimhen. The striker was still in Abidjan on Tuesday morning after he missed the squad’s flight to Bouaké on Monday because of abdominal discomfort. It added that the Napoli star will, however, join the rest of the squad before 17h on Tuesday if he is cleared by the medical team. The reigning Africa Player of the Year did not train with the squad on Monday evening and on the weekend, was substituted late in the quarter-final match against Angola. Although Osimhen has only scored one goal in the tournament, his tireless performances have played a large role in Nigeria making it through to the semi-finals for a record-equalling 16th time in its 20 AFCON appearances.
Source:The North Africa Journal
February 06, 2024 11:06 UTC
Middle East and North Africa Pay TV Forecast Report 2024: Thirteen of the 20 Countries will Lose Revenues Between 2023 and 2029
DUBLIN, Feb. 6, 2024 /PRNewswire/ -- The "Middle East and North Africa Pay TV Forecasts" report has been added to ResearchAndMarkets.com's offering. Pay TV revenues for 20 MENA countries will drop by 43% between 2016 ($3.8 billion) and 2029 ($2.2 billion). Pay TV revenues for the 13 Arabic-speaking countries will be $802 million by 2029; half of the $1,570 million recorded in 2016. Simon Murray, Principal Analyst said: "Legitimate pay TV penetration has always been low in most MENA countries, but the decline is accelerating as pay TV subscribers convert to OTT platforms." Excel workbook covering each year from 2015 to 2029 for 20 countries by household penetration, by pay TV subscribers, by pay TV revenues and by major operator.
Source:The North Africa Journal
February 06, 2024 11:01 UTC
LIVE: India vs South Africa – ICC Under-19 Cricket World Cup semifinal
blinking-dot Live updates Live updates,LIVE: India vs South Africa – ICC Under-19 Cricket World Cup semifinalFollow our live updates and commentary as defending champions India bowl first against hosts South Africa in Benoni.
Source:The North Africa Journal
February 06, 2024 08:21 UTC
Applications open for Qualcomm Make in Africa Startup Mentorship Programme
Leading global wireless technology firm Qualcomm has opened applications for its Make in Africa Startup Mentorship Programme, which offers startups access to coaching, access to engineers, and guidance on protecting IP. The NASDAQ-listed Qualcomm is an American multinational that creates semiconductors, software, and services related to wireless technology. Disrupt Africa reported in December 2022 the company had launched its African Innovation Platform, a suite of mentorship, education, and training programmes created to support the development of Africa’s emerging technology ecosystem. Applications are open here until February 18, with the programme taking place between April and November. It will conclude with a demo day in December.
Source:The North Africa Journal
February 06, 2024 07:32 UTC
Stable growth forecast for China's machinery makers this year
An employee works on the production line of a machinery manufacturer in Huzhou, Zhejiang province. China's exports of machinery products amounted to $783.02 billion last year, an increase of 5.8 percent year-on-year, accounting for 23.2 percent of the country's total export value. "Thanks to their advances in technology and competitive pricing, Chinese machinery manufacturers have experienced a notable rise in the production and export of both mainframes and complete machinery units in recent years." For example, popular Chinese machinery products have become new targets of international trade disputes in recent years. The European Union has initiated a countervailing duty investigation into China's new energy vehicles and launched an anti-dumping investigation into mobile lifting platforms.
Source:The North Africa Journal
February 06, 2024 07:10 UTC
Kapp pushes for return as South Africa target milestone win
Kapp retired hurt in Saturday’s first one-dayer after top-scoring with 50, after she was struck on her left elbow by a throw as she completed a second run to reach the milestone. The South Africa squad had a day off to enjoy Sydney on Monday. "It was a hard pill to swallow ... but then we take the positives going forward and we still have two more games to go." Klaas is one of six members of the Proteas squad who played in their last ODI at North Sydney Oval, all the way back in 2016. Australia have not lost an ODI at North Sydney Oval since 2009, but Klaas remained confident her team could pull off an upset.
Source:The North Africa Journal
February 06, 2024 07:00 UTC
Red Sea issue: UAE exporters seek to split shipment costs with Turkey, North Africa partners
“By getting the partner in those countries to pay half of the costs, we can still keep a lid on soaring shipment costs through Red Sea,” said a Dubai based food commodities trader with extensive sourcing and selling commitments in North Africa. Issue with exportsBut now, other UAE based entities are also having to find some solutions to what’s going on in the Red Sea. This is why Harish Tahiliani, Managing Director of Arab India Spices, says: “There are some longstanding supplier relations that are at stake because of the Red Sea issue. For now, there is no one in the shipping industry willing to make guesstimates on when the Red Sea turmoil will likely wind down. Longer by ‘10-12 days’There is acceptance that shipments to Europe and key North African ports will take longer, by 10-12 days and, in some cases, even longer.
Source:The North Africa Journal
February 06, 2024 05:55 UTC