NewsNorth Africa

Mon,20Nov2017

North Africa

Egypt needs $5-6bn in bilateral financing to seal IMF deal

Photo©Kim Kyung-Hoon/ReutersEgypt's preliminary deal for a $12 billion IMF loan programme can go to the board for approval only if the government secures $5-6 billion in bilateral financing for the first year, Chris Jarvis, the head of the IMF mission in Cairo, said on Thursday.

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Egypt's EFG Hermes posts loss due to tax on Credit Libanais sale

New headquarters of Egypt-based investment bank EFG-Hermes. Photo©Asmaa WaguihEgypt's EFG Hermes, the country's largest investment bank, posted a second quarter net loss of 67.55 million Egyptian pounds ($7.6 million) due to extraordinary tax charges linked to its sale of shares in Crédit Libanais.

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Egypt's el-Sisi marches on

Posters against the interior minister at the Journalists’ Syndicate©Amr Nabil/AP/SIPAPresident Abdel Fattah el-Sisi's regime's ample use of brute force is keeping a lid on a dispirited opposition in the north African country.

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Telecoms: Skype no more

Illustration©Adria FruitosMorocco is the latest African government to ban free internet calling services, riling consumers, who say traditional calling is too expensive.

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South Africa's Dlamini-Zuma's awful African Union legacy

altNkosazana Dlamini-Zuma is not seeking a second term as chairperson of the African Union (AU), and she has not been a good chairperson. Her five-year term will finish towards the end of 2017. Most chairs are expected to serve two terms, so Dlamini-Zuma's decision to leave has prompted speculation that she wishes to begin a campaign to succeed her former husband, Jacob Zuma, as president of South Africa.

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Climate Change: Now is the Time to Live Laudato Si

Cardinal John Onaiyekan, Archbishop of Abuja. Photo©Andrew Medichini/AP/SIPAOne of Pope Francis' most inspirational actions came almost exactly a year ago when he delivered his Encyclical on Ecology, entitled Laudato Si, writes Cardinal John Onaiyek, Archbishop of Abuja.

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