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North Africa

A tourist takes pictures in Chefchaouen, northern Morocco. The country's tourism startup culture is opening new markets beyond the traditional centres

Moroccan tourism startups build momentum ahead of World Cup

Startup innovation and entrepreneurship are helping to fuel growth in Morocco’s tourism industry. The sector’s importance to the economy is increasing as the country prepares to co-host the Fifa World Cup in 2030. Morocco welcomed 17.4 million international tourists in 2024, a 20 percent increase on 2023, the latest data from the UN World Tourism […]

DP World's 300,000 sq m facility in the Suez Canal Economic Zone is set for completion in June 2025

DP World nears opening of $80m logistics hub in Egypt

Global ports operator and logistics company DP World has completed nearly two-thirds of the work on the first phase of a $80 million logistics hub in Egypt’s Suez Canal Economic Zone. The 300,000 sq m complex is due for completion in June. It aims to reduce logistics costs and strengthen connections between Egypt, the Middle East […]

Egypt's economic development minister Rania Al-Mashat said the new agreements strengthen the partnership between Egypt and IsDB Group

Egypt secures $1.6bn loan from Islamic Development Bank

Egypt has secured $1.6 billion loan from Jeddah-based Islamic Development Bank (IsDB) Group to support its critical sectors and encourage private sector participation in economic growth. The government has signed a $1.5 billion deal with Islamic Trade Finance Corporation (ITFC), which is part of a five-year framework valued at $6 billion to enhance Egypt’s development […]

Morocco LNG

UK’s Sound Energy helps Morocco enter LNG market

Led by the UK company Sound Energy, Morocco is due to enter the liquefied natural gas market by the end of this year, as it finalises the development of its first LNG processing facility. Sound Energy owns a 20 percent stake in the project. The Moroccan mining company Managem owns 55 percent, while the remaining […]

The Suez Canal is ready to accommodate major shipping lines at full capacity, said Suez Canal Authority chairman Osama Rabie

Egypt urges return of Suez Canal traffic after Gaza ceasefire

Egypt has held talks with 23 maritime companies, encouraging them to resume transits through the Suez Canal following the ceasefire agreement between Israel and Hamas. There are many positive indicators for the Red Sea region as stability returns, said Osama Rabie, chairman of the Suez Canal Authority (SCA). He said the SCA has been flexible […]

The Noor Ouarzazate solar complex in Morocco. Renewables account for 44% of the country's energy mix

Morocco to invest $3bn in power projects over five years

Morocco is planning to invest more than MAD27 billion ($2.7 billion) into power projects in the next five years to expand its electricity network and increase the share of renewable energy, an official has said. The development plan, starting this year, covers conventional electricity, renewable sources and hydrogen projects, said Tarik Hammane, director general of the […]

Legal experts say the volume of projects in the Middle East is causing 'issues within joint ventures'

Mena construction industry braced for rise in disputes

Construction professionals working in the Middle East and North Africa are bracing themselves for a surge in disputes, driven by delays, cost overruns and changes in scope, research has found. In a survey of Mena businesses including contractors and developers, more than 80 percent of the 95 respondents said they anticipated a rise in disputes […]

Opec secretary general Haitham Al Ghais and Libya's acting oil and gas minister Khalifa Abdulsadek met at the Libya Energy & Economy Summit in Tripoli on January 18

Libya needs $4bn to increase oil output says minister

Libya needs between $3 billion and $4 billion to reach an oil production rate of 1.6 million barrels per day (bpd), the acting oil and gas minister Khalifa Abdulsadek has said. A new license bidding round is expected to be approved by the cabinet before the end of January, he told Reuters. Abdulsadek said the Libyan economy heavily relies on oil, accounting for more than 95 percent of […]

Algeria's minister of energy and mines, Mohamed Arkab. The country discovered significant deposits of lithium in 2024

Lithium find exposes Algeria’s neglected mining sector

The discovery of lithium in Algeria is a major economic opportunity – but underinvestment in the country’s mining industry means it could take a decade or more to bear fruit, experts say. In May 2024, Algeria discovered significant deposits of lithium and other essential climate technology minerals in the southern regions of Tamanrasset and In […]

Shoppers in Cairo. Food prices fell in December, putting Egypt's inflation for the year at 20.3 percent

Egypt’s inflation reached two-year low in December

Egypt’s annual urban consumer price inflation rate fell to 24.1 percent year on year in December, as expected, from 25.5 percent in November, its lowest in two years, data from statistics agency Capmas showed on Thursday. Inflation began surging in 2022 following the Russian invasion of Ukraine, which prompted foreign investors to withdraw billions of dollars from Egyptian treasury markets. It […]

Workers at the Chadar oilfield in eastern Libya

Libya begins oil and gas production at Chadar field

Zallaf Oil and Gas Exploration, Production and Refining Company, Libya’s National Oil Corporation (NOC) subsidiary, has commenced production at the Chadar oilfield. The facility is now producing approximately 7.5 million cubic feet of associated gas and 1,500 barrels per day (bpd) of crude. The production rates were reached on the first day, NOC said in […]

Souq Waqif in Doha. Qatar has the world’s third largest proven gas deposits

Mena’s LNG output ‘to rise by two-thirds by 2030’

Multibillion-dollar projects under construction are expected to raise Arab countries’ liquefied natural gas output by almost 90 million tonnes per year by 2030. The Arab Energy Organisation – previously the Organisation of Arab Petroleum Exporting Countries – said in a report published last month that most of the increase would come from Qatar. Mena LNG […]

Finance minister Ahmed Kouchouk said Egypt expects to receive $1.2bn from the IMF this month

Egypt targets new $3bn funding despite IMF loan

Egypt aims to raise nearly $3 billion by the end of the current fiscal year, which ends in June 2025, finance minister Ahmed Kouchouk has said. The funding will be secured through diverse issuances, Reuters reported, citing an interview with Kouchouk on ONtv, an Arabic-language channel. Kouchouk said Egypt expects to receive $1.2 billion from […]

The Egyptian government is pressing ahead with modernisation projects for the Suez Canal

Suez Canal revenue drops $7bn amid Red Sea instability

Suez Canal revenue fell 60 percent, or $7 billion, year on year in 2024 as ongoing instability in the Red Sea disrupted global shipping traffic, according to a news report. Despite the significant earnings drop, the Egyptian government is pressing ahead with modernisation projects to enhance the canal’s capacity and maintain its pivotal role in […]

A farmer harvests barley in Morocco; the cereal harvest was 3.1 million tonnes this year, down from 5.5 million last year

Why rain is critical for Morocco’s economy

Analysts hope that heavy rainfall in the south of Morocco this autumn will refill aquifers across the country that have been depleted by six years of intense drought, and improve crop yields for 2025.  The country’s agriculture sector is a major employer, and accounts for 12 percent of Morocco’s GDP, but it is volatile. The World Bank is cautiously predicting […]

North Africa green energy Ziz river

Water scarcity biggest threat to North Africa’s green energy drive 

Water scarcity is the biggest hurdle to the development of renewable power across North Africa, along with a lack of financing and governance failures, a new report says. Nevertheless, countries in the region are boosting production of sustainable sources of energy, pushed by unmet domestic demand and the European Union’s increasing hunger for imports of […]

A wind farm in the Sinai Peninsula, Egypt. Some identified localisation sectors include renewable energy components for batteries and wind power

Egypt to localise 23 industrial sectors

Egypt aims to localise 23 high-priority sectors to spur industrial development and reduce reliance on imports, according to a local media report. These industries are critical to the country’s economic growth and leverage locally available raw materials, Egypt Daily reported, citing deputy prime minister for industrial development and minister of industry and transport Kamel El-Wazir […]

The 350-key Hilton Cairo Suez Road. Egypt is Hilton's longest-standing market in the Middle East and Africa region, where it has been operating for more than 60 years

Hilton to triple Egypt presence with new brands

Hilton is planning to triple its presence in Egypt, increasing the number of hotels to 25 and expanding its footprint to more than 40 properties. The expansion includes the opening of its lifestyle brand, Tapestry Collection, on the African continent, as well as Egypt’s first Curio Collection and a resort under the Hilton Hotels & […]

Morocco has manufactured one million vehicles annually, including four electric models, over the past two decades

Morocco partners with central African nations on EV plan

Morocco, the Democratic Republic of Congo (DRC) and Zambia have joined together to develop the infrastructure needed for electric vehicles (EVs), as they strive to lower their dependence on fossil fuels. The three nations will club their resources and experiences to support the development of EV batteries and battery precursors. Developing carbon-free transportation is essential […]

Tourists enjoying the view of Chefchaouen from the Spanish Mosque, northwest Morocco

Morocco reports 20% rise in tourists this year

Morocco has reported a 20 percent year-on-year increase in tourists through to the end of November, welcoming close to 16 million visitors. Fatim-Zahra Ammor, Morocco’s minister of tourism, described the numbers as an “historic achievement”. “This achievement isn’t just a number, it’s a testament to the success of our roadmap and confirms we’re on track […]

Bruno Nabagné Kone, minister of housing in Côte d’Ivoire, Robert Beugré Mambe, prime minister of Côte d’Ivoire and Mohamed Saif Al Suwaidi, Director-General of ADFD at the signing ceremony

Abu Dhabi fund backs social housing project in Africa

The Abu Dhabi Fund for Development (ADFD) will provide financing of AED183.5 million ($50 million) for a social housing programme in Abidjan, Côte d’Ivoire. The first phase of the scheme includes 25,000 housing units and expands ADFD’s geographic reach across the African continent. The investment in critical infrastructure projects will promote sustainable economic and social […]