The African Development Bank, Libya strengthen cooperation, sign funding agreements
TRIPOLI, Libya, le 27 November 2023 -/African Media Agency(AMA)/The African Development Bank has signed three technical assistance grant agreements with the government of Libya, reaffirming its commitment to the North African country. The supplies, which were swiftly arranged by the bank, became necessary following the Derna floods which devastated the eastern part of the country. “We appreciate the support of the Bank, namely the timeliness and efficiency demonstrated to approve the grants,” he said. Distributed by African Media Agency (AMA) on behalf of African Development Bank. The post The African Development Bank, Libya strengthen cooperation, sign funding agreements appeared first on African Media Agency.
Source:The North Africa Journal
November 27, 2023 12:22 UTC
Voices from the Middle East and North Africa
“We can’t openly celebrate Christmas and sing Christmas songs here in Iran because of terrible oppression”, shares Keyvan from Iran. “If we celebrate Christmas openly the government will find out and they will cause problems for us. Any investigation by the authorities would soon reveal a believer’s Christian faith and almost certainly lead to persecution. These believers can celebrate Christmas without fear of a neighbour, or even someone within the group, reporting them to the authorities. This Advent, pray for the people of the Middle East and North Africa by ordering our free Advent prayer guide: sat7uk.org/advent-prayer
Source:The North Africa Journal
November 27, 2023 11:53 UTC
Libya: Three technical assistance grants for water and sanitation
The African Development Bank has signed three technical assistance grant agreements with the government of Libya in country capital Tripoli for water and hygiene materials. “We appreciate the support of the Bank, namely the timeliness and efficiency demonstrated to approve the grants,” he said. “Thanks to this support UNICEF will focus on safe water provision, hygiene promotion and water quality monitoring, as well as supplies for school reopenings and for the delivery of psychosocial services. Strengthening resilience to climate changeThe two other technical assistance agreements draw on the Bank’s Middle-Income Technical Assistance Fund (MIC TAF). The second is the result of engagements between the Bank and Libya’s Ministry of Finance to advance the government’s public finance management reform agenda.
Source:The North Africa Journal
November 27, 2023 11:15 UTC
BNY Mellon and Lunate commit $300 million to MENA fintech Alpheya
BNY Mellon (NYSE: ), a leader in financial technology, together with investment firm Lunate, have injected $300 million into Alpheya to develop an end-to-end digital platform tailored for asset managers and investment houses in MENA. This move aligns with broader efforts to establish Abu Dhabi as a central hub for finance. BNY Mellon's Chief Growth Officer Akash Shah pointed out their expertise as crucial in advancing portfolio management technology. As part of this collaboration, stakeholders expect Alpheya to simplify complex technological challenges faced by wealth managers and foster seamless integration with global providers. With this strategic partnership, the companies aim to reshape MENA’s wealth management scene and further details on Alpheya's operational framework are anticipated in the near future.
Source:The North Africa Journal
November 27, 2023 10:28 UTC
Sasol , Air Liquide sign another PPA for supply of renewable energy
Sasol and Air Liquide have concluded their third power purchase agreement (PPA) this year which will help feed its operations with renewable energy. The PPA is for the long-term supply of renewable power to Sasol and Air Liquide at Sasol’s Secunda operations. From here, Air Liquide operates the world’s largest oxygen production site. This is the third set of PPAs signed by Sasol and Air Liquide after those announced in the first quarter of 2023. World’s biggest oxygen production site signs more renewable energy PPAsCompanies securing renewable energy supplyNicolas Poirot, Air Liquide’s Chief Executive Officer of the Africa, Middle East & India hub, said: “Together with our long-term partner Sasol, we have secured massive amounts of renewable energy generation capacity.
Source:The North Africa Journal
November 27, 2023 10:16 UTC
Morocco: pro-Palestinian rally held in Casablanca
Moroccans rallied in support of Palestinians in Casablanca on Sunday, calling for a permanent ceasefire in Gaza and for an end to diplomatic relations with Israel. Tens of thousands lined the streets of Casablanca, waving Palestinian flags and wearing the distinctive black and white keffiyeh scarves. Protesters called for an end to relations between Morocco and Israel, three years after their normalisation in 2020 as part of a broader process between Israel and several Arab countries. In the years since, the number of pro-Palestinian demonstrations in the North African country had seen a marked decline but the war between Israel and Hamas, which began following the Hamas attack on October 7, has sparked a fresh wave of pro-Palestinian sentiment. "What we need is not a truce, but a definitive ceasefire so that we can sit down together and give peace a chance," said Socialist MP Nabila Mounib.
Source:The North Africa Journal
November 27, 2023 10:01 UTC
North Cameroon Road improvements planned
Further funding is being secured for more road improvements in North Cameroon. A loan worth US$224.6 million is being provided by the African Development Bank. The 137km stretch of National Road 12 road linking Magada-Yagoua will be upgraded. Also benefiting from improvements will be the 36km stretch of National Road 1 between Moutourwa and Maroua. This news follows close on the heels of new on financing being provided via The Saudi Fund for Development (SDF) for two road projects in North Cameroon.
Source:The North Africa Journal
November 27, 2023 09:49 UTC
Palestinian diplomat appeals for Gaza truce to be extended as EU and Arab nations meet in Spain
The event in past years has largely become a forum for cooperation between the EU and the Arab world. “The two-state solution cannot remain a talking point.”Saudi Arabia’s foreign minister, Prince Faisal bin Farhan Al Saud, was invited to the event. Spain is one of the EU countries that has called for Israel to cease its assault, while also condemning the Hamas attack. Speaking alongside Al-Malki, Spanish Foreign Minister José Albares said that Hamas cannot be part of the solution. Al-Malki is the foreign minister for the internationally recognized Palestinian Authority, whose forces were driven out of Gaza by Hamas when it seized power in 2007.
Source:The North Africa Journal
November 27, 2023 09:28 UTC
Tunisian retail-tech startup Winshot secures 6-figure funding to improve customer experience
Tunisian retail-tech startup Winshot has secured a six-figure round of funding to enhance operational efficiency and elevate the overall customer experience for brands, retail chains and franchise leaders. Winshot aims to tackle the intricate challenges of retail distribution networks by focusing on two pivotal elements – fostering stronger connections, deeper involvement, and heightened engagement among internal teams operating both in the field and at the point of sale; and utilising real-time monitoring to ensures seamless application of processes and adherence to brand standards at every point of sale within a distribution network. The startup recently concluded a six-figure round of funding, led by the Tunis-based VC firm 216 Capital, which it will use to establish high-calibre marketing and sales teams to solidify a robust market presence in both France and Tunisia. “A fantastic team and a product that addresses a real need in a promising market – these are the reasons why we invested in Winshot. Our investment reflects our confidence in their potential and our commitment to supporting their journey to success,” said Dhekra Khelifi, partner at 216 Capital.
Source:The North Africa Journal
November 27, 2023 09:02 UTC
Malawi: Solar, battery storage project to up country’s energy output
Malawi’s electricity utility has broken ground on a solar power and battery storage project aimed at increasing the country’s power generation capacity. This is the first phase of the scalable 20MW Salima solar power plant that will be implemented in two phases of 10MW each. The Electricity Generation Company (Malawi) Limited (EGENCO) said the plant will incorporate an advanced battery storage system of 2.5MWh capacity. “Once commissioned, Salima Solar Power Plant will provide an alternative source of electricity and supplement the already existing sources of electric energy. Golomoti was the first utility-scale plant in the region to include a battery energy storage system (BESS).
Source:The North Africa Journal
November 27, 2023 09:00 UTC
ALNET Technologies partners with AllCloud to revolutionise loan management in South Africa – Intelligent CIO Africa
ALNET Technologies specialises in innovative software solutions for the financial services industry and brings a wealth of IP and experience to this partnership. With a track record of implementing innovative solutions that enhance operational efficiencies, ALNET Technologies is well-positioned to introduce this revolutionary loan management system to financial service providers (FSP’s). AllCloud – a leading cloud services provider and loan management specialist – brings its extensive knowledge of cloud-based solutions to the table with expertise in cloud architecture, data management and security. This ensures the new loan management system is not only efficient but also highly secure and scalable. “AllCloud Lending Technology offers excellent configurability and ease of use to serve retail, commercial, private, and corporate, loan facilities throughout Africa,” concludes Govender.
Source:The North Africa Journal
November 27, 2023 08:58 UTC
Egypt’s central bank unveils $105mln debt instruments
Cairo - The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) through one issue on Monday, 27 November 2023, according to official data. Holding a three-year maturity period until 7 November 2026, the fixed coupon stood at EGP 2.50 billion. The CBE also issued floating-rate T-bonds at a value of EGP 750 million through one offering, which will mature in three years on 3 October 2026. Last week, on 20 November, the CBE auctioned T-bonds at a combined value of EGP 3.25 billion through two tranches. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Source:The North Africa Journal
November 27, 2023 08:50 UTC
Students start newspaper at North East Carolina Prep
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Source:The North Africa Journal
November 27, 2023 07:37 UTC
North Korea restores border guard posts as tensions rise over its satellite launch, Seoul says
The deal left South Korea with 50 board guard posts and North Korea with 150. North Korea immediately slammed South Korea’s decision, saying it would deploy powerful weapons at the border in a tit-for-tat measure. South Korea’s Defense Ministry said in a statement Monday that it detected North Korea building guard posts at border sites where its dismantled guard posts once stood, and that North Korea deployed troops and heavy weapons there. South Korean officials said they confirmed the North Korean satellite entered orbit. South Korea suspects Russian technological assistance likely enabled North Korea to send the spy satellite into space.
Source:The North Africa Journal
November 27, 2023 06:33 UTC
What does it mean to be a green bank?
Nedcor Investment Bank’s Head of Energy & Finance Amith Singh spoke to ESI Africa at the Africa Energy Forum (aef) in Nairobi about what it means to be a green bank. Singh highlighted how funding renewable energy is an important part of not only the bank, but Africa’s investment strategies for development. Find out more about Nedcor Investment Bank’s work in creating Africa’s green economy for sustainability.
Source:The North Africa Journal
November 27, 2023 06:29 UTC