Author: Congo Times

Strategic Arrival in Austria Embracing her diplomatic responsibilities with commendable zeal, Édith Itoua, the vigilant Congolese ambassador residing in Berlin, embarked on a pivotal voyage to Vienna. Her visit coincided strategically with the dispatch from the Ministry of Special Economic Zones and Economic Diversification, accompanied by a parallel mission from the Forestry Economy Ministry. In doing so, Édith Itoua aims to fortify diplomatic ties within her jurisdiction. A Diplomatic Mosaic in Vienna In the bustling corridors of Vienna, an intricate dance of diplomacy unfolds. Édith Itoua, representing Congolese interests, seamlessly navigates the nuanced spheres of political, cultural, and economic diplomacy.…

A Financial Lifeline for a Stalled Economy Amidst an economic downturn compounded by aging infrastructure, South Africa has secured a $1.5 billion loan from the World Bank. Signed on June 23, 2025, this financial infusion aims to jolt an economy stifled by persistent power outages and a crumbling transport system. Over the past decade, South Africa—Africa’s most developed economy—has struggled to grow, with regular electricity interruptions throttling productivity. Additionally, deteriorating rail networks and perpetually congested ports have hindered major industries, such as mining and automotive. Economic Gloom: Unemployment and Stalled Growth With an unemployment rate exceeding 31% and an average…

Interest Rates Remain Unchanged Amidst Falling Inflation In a crucial decision reflecting economic stability, Morocco’s Central Bank, known as Bank Al-Maghrib, has opted to maintain its key interest rate at 2.25%. This decision follows noticeable deceleration in food prices and an overall slowdown in inflation, which dropped from an average of 2% in the first quarter to 0.4% by May. During the recent board meeting in Rabat, comprehensive analyses of both national and international economic developments resulted in this conclusion, signifying a stable monetary environment. Projections Indicate Moderate Inflation in Coming Years Future economic forecasts provided by Bank Al-Maghrib suggest…

A Strategic Meeting in Saint Petersburg On June 19, a significant dialogue unfolded in Saint-Petersburg between Denis Christel Sassou Nguesso, the Congo’s Minister of International Cooperation, and Russia’s Deputy Energy Minister, Pavel Sorokin. The talks underlined a persistent dedication to strengthening bilateral energy cooperation. Their engagement exemplified a strategic diplomatic endeavour aimed at elevating economic prospects through a robust energy sector alliance. Bilaterial Cooperation: A Commitment to Mutual Advancement Both dignitaries underscored their aspiration to continue a strategic collaboration bolstered by structurally significant projects. This cooperation is not merely a roadmap to enhanced diplomatic relations but a calculated move to…

World Bank Steps in to Boost South Africa’s Faltering Economy On June 23, South Africa announced securing a substantial $1.5 billion loan from the World Bank, with the target of rejuvenating its deteriorating transportation and energy sectors. This ambitious financial intervention by the global financial institution marks a critical attempt to reinvigorate an economy that was once considered the continent’s powerhouse. For over a decade, South Africa’s economic engine has been struggling, characterized by stagnant growth and chronic infrastructure challenges. Now, with an ambitious plan in hand, the nation appears poised to tackle its infrastructural inadequacies, which have broadly handicapped…

Introduction to the Bond Issuance In a strategic move aimed at enhancing its financial framework, Maroc Telecom, a leading telecommunications operator in Africa, has triumphantly executed its inaugural private bond issuance, amassing a significant sum of 3 billion dirhams, equivalent to approximately 326 million US dollars. This milestone initiative not only marks a pivotal chapter for the Group but also signifies its resolute commitment to advancing high-value projects. Investor Enthusiasm and Strategic Goals The issuance was conducted under a private placement format, capturing substantial interest from institutional investors. It features a two-year maturity period with repayment at maturity and was…

Steadfast Economic Growth Amidst Global Uncertainties Ivory Coast’s economy continues to dazzle with its thriving performance as highlighted in the latest report by the African Development Bank (AfDB). The West African powerhouse is projected to maintain a robust real GDP growth rate of 6.1% in 2024, with forecasts predicting stability around 6.3% for 2025-2026. This news was unveiled during a thought-provoking seminar in Abidjan, focusing on ‘Harnessing Ivory Coast’s Capital for Sustainable Development.’ Kadio Lionel Kouao, an AfDB country economist, articulately credited the nation’s economic dynamism to strategic fiscal measures and investments. Inflation Eases as Fiscal Deficits Shrink The inflation…

Diplomatic Journey into the Shadows In what appears to be a captivating blend of diplomacy and intrigue, the International Atomic Energy Agency (IAEA) is reportedly preparing to send a team of its experts to Algeria. This visit aims to scrutinize the nation’s handling of radioactive waste, specifically from its nuclear medicine sector, amidst unsettling allegations of covert shipments to Iran, raising alarms over potential ‘dirty bomb’ manufacturing. The focus remains strictly diplomatic, framing a delicate balance between international scrutiny and local governance. Focus on Radioactive Waste Management The inspectors’ mission is not merely procedural but pivotal, given the opaque militarized…

A Historic Celebration by the Djoué On June 21st, the renowned Conquering Lions took center stage by the picturesque Djoué River in Brazzaville, delivering an unforgettable concert as part of the global Fête de la Musique. The venue, framed by the stunning waterfalls, provided a dramatic backdrop that enriched the musical experience, drawing an impressive gathering of devoted fans. A Journey Through Musical Time Hailing from Pointe-Noire, Conquering Lions has consistently enthralled audiences with their commanding presence and innovative reggae style. This concert was no different; it marked a moment where nostalgia and contemporary sounds intertwined seamlessly. Their repertoire included…

Legacy of Resistance In the pulsating heart of Nairobi, Kenya’s Generation Z gathers in solidarity, marking the anniversary of last year’s protest that resulted in the devastating loss of life. Their resolve, undeterred, channels both commemoration and a powerful call to action. As they rally, familiar chants of ‘justice’ and ‘democracy’ reverberate through the urban landscapes, echoing a year-long narrative of courage and unrest. Demands for Justice The youth, emboldened by their predecessors’ sacrifices, demand accountability for the violence inflicted during the protests. One year ago, the streets were a dramatic theater of conflict as young protesters clashed with security…