Algerian PM stresses Tunisian-Algerian keenness to boost bilateral cooperation and partnership
Algerian Prime Minister Ayman Ben Abdelrahman said he is looking forward to the Tunisian-Algerian Economic Forum for Business Leaders to produce results and outcomes that match the high and distinguished level of the political relations that unite the two countries and peoples. Abderrahman was speaking at the opening of the forum, which he co-chaired with his Tunisian counterpart in Algiers on Tuesday. He noted that the large government delegation accompanying the Tunisian Prime Minister reflects the importance that Tunisia attaches to the development of stronger and deeper economic relations with Algeria. This requires Algerian and Tunisian economic operators to make the most of all available opportunities to increase and expand the volume of trade, he stressed. With regard to investment, the Algerian Prime Minister expressed his satisfaction with the opportunities for economic integration between Algeria and Tunisia and the advantages offered by the two countries' markets.
Source:The North Africa Journal
October 04, 2023 14:42 UTC
African carriers report 4.7% drop in August cargo demand
"This was a significant decrease in performance compared to July (+2.3 percent). August regional performanceAsia-Pacific airlines saw their air cargo volumes increase by 4.9 percent in August 2023 compared to the same month in 2022. North American carriers saw their air cargo volumes decrease by 1.2 percent. Middle Eastern carriers experienced a 1.4 percent year-on-year increase in cargo volumes in August 2023. Latin American carriers had the strongest performance in August 2023 with a 6.2 percent increase in cargo volumes compared to August 2022.
Source:The North Africa Journal
October 04, 2023 14:23 UTC
Steering Tunisia away from Default
At first, the European Union (EU) and many of its member states evinced great concern about Tunisia’s direction under Saïed. In today’s conditions, the government would struggle to find alternative external financing to cover the costs, as Tunisia’s economic indicators continue to deteriorate. There would be risks and downsides to accepting an IMF loan as well. Under the latter arrangement, and following end-of-September discussions among EU member states, Tunisia is to handle asylum applications of Europe-bound refugees on its own soil, rather than allowing these people to cross the Mediterranean and apply. What the EU Can Do The EU and member states face highly imperfect choices when it comes to Tunisia.
Source:The North Africa Journal
October 04, 2023 14:17 UTC
Mauritania reins in BP to respect commitments in connection to GTA gas project – The North Africa Post
Mauritania’s minister of Oil, Gas and Mines Nani O. Chrougha Tuesday October 3 reminded British Petrolium (BP) to abide by requirements and commitments taken in the execution of “Grand Tortue Ahmeyime (GTA)”, a Liquefied National Gas (LNG) project situated on the border with Senegal. BP owns 56 per cent of project in which both Mauritania and Senegal are shareholders. Both countries signed an inter-government co-operation agreement (ICA) in February 2018, which provided for the development of the cross-border gas project with each country sharing resources and revenues on a 50/50 basis. They also granted GTA the status of ‘National Project of Strategic Importance’ in July 2021, Offshore-Technology reports. GTA is expected to produce 2.3 million tons per annum (mtpa) of LNG in phase one.
Source:The North Africa Journal
October 04, 2023 14:13 UTC
Morgan Stanley downgrades Egypt’s sovereign credit rating to “dislike stance” – The North Africa Post
New York-based investment banking company Morgan Stanley has moved Egypt’s sovereign credit to a “dislike stance” from a “neutral” rating and noted that the cash-strapped country will face what it termed “mounting risks” in the coming months, Bloomberg reports. The bank argued that the upcoming December elections exacerbate the situation. President al Sisi Monday October 2 announced plans to seek another term in office, a move to extend his rule over the country since 2014. The North African country, the bank notes, has lost favor with foreign portfolio investors who once saw it as a prime destination for hot money that kept its currency stable and boasted some of the world’s highest interest rates when adjusted for prices. However, honey moment turned sour as investors turned sharply against riskier assets with the Russian-Ukraine war last year, forcing several rounds of devaluation in Egypt that touched off inflation.
Source:The North Africa Journal
October 04, 2023 14:11 UTC
Algeria fears Tuareg independence spill over – The North Africa Post
As the Tuaregs brace for a new war to liberate the Azawad territory in what came to be called northern Mali, Algeria is watching closely, fearing a spill over into its own large and impoverished Tuareg community. The Tuaregs, an Amazigh speaking nomadic people, have been arbitrarily attached by French colonialism to Algeria, Mali, Niger, Burkina Faso, and Libya. The Tuareg have led multiple rebellions against Niamey and Bamako in the 1990s. “Every time the Tuaregs bring Bamako on its feet, Algeria intervenes to restore the Malian occupation back to the Tuareg territory,” he said. Shekka warned that increasing repression of the Tuaregs in what came to be called southern Algeria would lead to an armed uprising.
Source:The North Africa Journal
October 04, 2023 14:11 UTC
Niger denies it had accepted Algeria’s mediation proposal – The North Africa Post
Niger authorities denied news spread by the Algerian foreign minister saying Niamey accepted Algiers’ mediation proposal. The denial is an embarrassment to the Algerian authorities after the West African Economic grouping rejected Algeria’s mediation in the conflict with the putschists in Niger. The oppressive and delusionary Algerian regime has been caught in diplomatic lies of its own making, undermining further the rulers’ credibility and deepening their international isolation. This denial deals a hard blow to the Algerian regime which is not interested in solving Niger political crisis but is seeking only to serve its own geostrategic agenda. He said the Algerian transition proposal was a recognition of the coup.
Source:The North Africa Journal
October 04, 2023 14:11 UTC
HSBC Global Private Banking announces leadership transition for MENA
Aladdin Hangari, Head of Global Private Banking Middle East & North Africa (MENA), HSBCThe PeninsulaDoha, Qatar: HSBC announces the appointment of Aladdin Hangari as Head of Global Private Banking Middle East & North Africa (MENA), succeeding Sobhi Tabbara who has announced his departure from HSBC with effect from January 2024 to pursue opportunities beyond the bank. Sobhi has led HSBC Global Private Banking in the MENA region since 2012, driving the expansion of its Ultra-High-Net-Worth (UHNW) coverage in key markets, including Saudi Arabia, the UAE, Qatar, Kuwait and Bahrain. Aladdin joins HSBC from Credit Suisse, where he spent 20 years, most recently as CEO of Credit Suisse (Qatar LLC) and CEO of Aventicum Capital Management Holding AG. HSBC will also strengthen its coverage of Qatar with the appointment of Patrick D’Amico as Global Market Head of Qatar, joining from Credit Suisse. HSBC Global Private Banking continues to strengthen its position across the region, serving customers with excellence throughout Europe and the Middle East.
Source:The North Africa Journal
October 04, 2023 14:06 UTC
Scoobtober Comes to the Europe, Middle East, North Africa
“Scooby-Doo creates a world of spooky fun for playful spirits of all ages and instills an appetite for mystery that sparks curiosity,” says Julian Moon, head, global consumer products EMEA & Asia Pacific, Warner Bros. Discovery Global Consumer Products. “It is a brand that is synonymous with Halloween and an entry point into the world of mystery adventure and the classic whodunit. The team is now looking to capitalize on the fantastic Scoobtober content programming and stunts seen across broadcast and WB Kids YouTube channels to provide licensing and retail partners with a long-term cross-divisionally supported opportunity to leverage the Halloween season, the popularity of which has grown exponentially across Europe.”Inspiration can be found from the global consumer products rollout, which spans all categories and includes BlackMilk,BoxLunch,Funko,Random Houseand Coppel.
Source:The North Africa Journal
October 04, 2023 14:02 UTC
See photos of the Taste of Africa event
LOCALSee photos of the Taste of Africa eventCourtesy of Carol SmithThe Martin Luther King Neighborhood Association of North Louisiana’s Taste of Africa event. Courtesy Of Carol SmithThe Martin Luther King Neighborhood Association of North LouisianaÕs Taste of Africa event. Courtesy Of Carol SmithThe Martin Luther King Neighborhood Association of North LouisianaÕs Taste of Africa event. Courtesy Of Carol SmithThe Martin Luther King Neighborhood Association of North LouisianaÕs Taste of Africa event. Courtesy Of Carol SmithThe Martin Luther King Neighborhood Association of North LouisianaÕs Taste of Africa event.
Source:The North Africa Journal
October 04, 2023 09:45 UTC
Canon’s Young People Programme Partners with Dikan Center in Ghana to Empower Young Visual Storytellers
Canon (www.Canon-CNA.com) is proud to announce its partnership with Dikan Center, a visionary non-profit institution based in Ghana, committed to providing visual education. The Dikan Center is renowned for its immersive Gallery, transformative StoryLab Studios, and visual library. Canon saw a unique opportunity to align its mission of creating opportunities for young African talent, with the goals of the Dikan Center. Local trainers from Ghana, provided by Dikan Center, will work in partnership with Canon, offering resources and essential equipment. The journey will culminate in a professionally curated exhibition, scheduled to be held during a story festival organized by Dikan Center, in December 2023.
Source:The North Africa Journal
October 04, 2023 09:26 UTC
Egyptian fintech startup MoneyHash raises funding from GitHub founder
Egyptian fintech startup MoneyHash has raised funding from GitHub founder Tom Preston-Werner as part of a soon-to-be-announced seed round. The startup announced a US$3 million pre-seed funding round in February 2022 as it emerged from beta, and then swiftly launched its services across Africa. It is now in the process of securing a seed round, in which Preston-Werner, co-founder and former CEO of software development company GitHub, has invested. Preston-Werner said he had been impressed with the technical quality and product vision of MoneyHash, and the founders’ deep understanding of the payment landscape in Africa and the Middle East. Nader and his team attracted a fantastic group of tech talent, and I am excited to join their journey,” he said.
Source:The North Africa Journal
October 04, 2023 09:04 UTC
Focus on women in mobility takes root at Smarter Mobility Africa
The Women in Mobility session was inaugurated at the 5th Annual Smarter Mobility Africa Summit to address gender disparities and empower women to lead change in mobility sectors. Annabel Vundla, South Africa’s first black female pilot and captain, seen reading ESI Africa 2-2023 at Smarter Mobility Africa Summit. That way, you can help everyone else.”The Women in Mobility programme, hosted by Smarter Mobility Africa, is designed to create a robust support system for women who face inequality, safety concerns, and lack of access. The panel at the inaugural event included Kriya Gangiah, Broadcaster & TV Presenter (South Africa) who hosted the session, Panellists: Ayanda Mohala, Chief Financial Officer, KTC (South Africa), and Chantelle Nkosi, General Manager Quality Assurance- Manufacturing at Nissan South Africa. ESIESI Africa is proud to be the host Media Partner for the Smarter Mobility Africa Summit 2023 conference and exhibition.
Source:The North Africa Journal
October 04, 2023 07:55 UTC
Developing countries facing a debt crunch
EGYPTNorth Africa's largest economy needs to repay some $100 billion of hard-currency debt over the next five years. Egypt has a $3 billion IMF programme and has devalued the pound by roughly 50% since February 2022. Its progress in restructuring both domestic debt and $30 billion in external debt has been fairly swift and it secured a $3 billion IMF bailout in May. The next tranche of a $2.9 billion IMF bailout package could be delayed over a potential government revenue shortfall. A repair plan finally appeared imminent after Zambia clinched a $6.3 billion debt rework deal with the Paris Club creditor nations and China, its other big bilateral lender, in June.
Source:The North Africa Journal
October 04, 2023 06:49 UTC
Global renewable energy jobs boom since 2012 – report
Renewable energy jobs globally have nearly doubled in a decade, reaching nearly 14 million in 2022. A new report by the International Renewable Energy Agency (IRENA) and the International Labour Organisation (ILO) shows that worldwide employment in renewable energy reached 13.7 million in 2022. The report found that renewable energy is attracting increasing investment, leading to job creation in a growing number of countries. Initiative to foster clean energy jobs for women and youth in NigeriaQuality of job mattersHydropower and biofuels had similar numbers of jobs as in 2021, around 2.5 million each, followed by wind power with 1.4 million jobs. India’s total solar jobs are estimated to be at 281,400.
Source:The North Africa Journal
October 04, 2023 06:27 UTC