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Rabat & Ankara Pledge to Readjust FTA in Two Weeks

Morocco and Turkey have agreed to adjust their Free Trade Agreement (FTA) so that it will be “beneficial for both parties”, said on Wednesday Moroccan minister of industry & trade Moulay Hafid Elalamy. He made the remarks after his talks held in Rabat with Turkish peer Ruhsar Pekcan on the sidelines of the 5th meeting […]

Ethiopian Airlines to construct new $5 billion airport

Ethiopian Airlines will start constructing a new $5 billion airport later this year, the state-run Ethiopian News Agency reported on Wednesday. The airport, which will cover an area of 35 square kilometers, will be built in Bishoftu, a town 39 km south east of the capital, and will have capacity to handle 100 million passengers […]

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Morocco places order for two Spain-manufactured Patrollers

The Moroccan navy have placed an order for the purchase of two Spain-made patrollers. The deal is worth €260 million. Spanish state-owned shipbuilding company Navantia will build the two high class military vessels, Far-Maroc, a website specializing in Moroccan defense news, reported. The company, which operates a plant in Casablanca specializing in maintenance and boat […]

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Nigeria hosts a Forum on the implementation of the AfCFTA

Nigeria is hosting the National AfCFTA Forum on the “Effective Implementation of the AfCFTA for Industrialization and Inclusive Economic Development” from 5-6 December 2019, local media reported. The forum is co-organized by the United Nations Economic Commission for Africa (ECA), the European Union, the Manufacturers Association of Nigeria (MAN), the Nigerian Association of Chambers of […]

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Morocco-Russia: Sahara at Centre of Telephone Conversation Between Bourita & Lavrov

Moscow has reaffirmed its readiness to deepen political dialogue with Rabat for the settlement of the Moroccan Sahara issue.   The remark was made by Russian Foreign Minister Sergei Lavrov during a telephone conversation he had on Tuesday with his Moroccan peer Nasser Bourita. A statement issued by the Russian Foreign Ministry said the two […]

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Morocco’s OCP Group Wins Gold Medal for its High Safety Standards at Work

Morocco’s state-owned OCP Group, the world’s first producer of phosphate-based fertilizers, has received the IFA’s 2019 Industry Stewardship Gold Medal for the second year in a row at the Strategic Forum of the International Fertilizer Association convened lately in Versailles, France. The award recognizes OCP’s strong commitment in terms of safety and confirms the group’s […]

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Egypt: Tourism revenue surges to a record

Egypt’s tourism revenues have increased to $12.5 billion in FY2018-2019, tourism minister Rania Al-Mashat said this week in an interview with Bloomberg. According to Al-Mashat, these are the highest tourist revenues in the history of Egypt. Tourism is one of the main pillars of Egyptian economy and is an important source of foreign currency creating […]

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Germany hosts G20 Compact with Africa Summit

Germany is hosting this nov.19-20 the third G20 Compact with Africa Summit, meant to increase attractiveness of private investment in Africa through substantial improvements of the macro, business and financing frameworks. Opening the summit, attended by heads of government and business from 12 African partner nations, including Morocco, Chancellor Angela Merkel insisted the continent has […]

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Jumia suspends its e-commerce business in Cameroon

Online retailer Jumia Technologies has suspended its e-commerce business In Cameroon as of Monday, nov.18, announcing in a statement that its transactional portal was “not suitable to the current context” in the Central African nation. “The Amazon of Africa” said it would continue to support buyers and vendors using its classified portal, known as Jumia […]

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Africa Investment Forum 2019 ends with $67.6 billion deals

The second edition of the Africa Investment Forum (AIF-2019) has ended on a high note Wednesday, with 56 boardroom deals valued at $67.6 billion tabled – a 44% increase from last year, the African development Bank said in a statement. Among the deals, a $600 million COCOBOD deal was sealed for Ghana, for cocoa processing […]

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