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Renault to start assembling, distributing two models in Nigeria

French automaker Renault announced Thursday it reached a deal with a Nigerian local partner for the production and distribution of its “Logan” and “Duster” models. Lagos-based Coscharis Group will provide its plant for the production and distribution of the Renault vehicles through its sales network in the West African country. “With a population of over […]

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French PSA Group’s Ecosystem in Morocco required a €280 million investment

PSA group’s new plant in Kenitra, inaugurated Thursday, June 20 at an official ceremony chaired by King Mohammed VI, has required a €280 million investment. The PSA group’s new plant will spur the development of the Moroccan  automative sector and mirrors the excellence of the “Morocco Made”. The unit is expected to produce annually up […]

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Rwanda to launch a 2000-unit social housing project

Rwanda plans to build at least 2,000 affordable housing units, under a joint venture between Shelter Afrique, a pan-African housing finance institution, and the Development Bank of Rwanda (BRD). The project, worth $131 million, is developed by Rugarama Park Estate and Remote Group. It will have public parks, community buildings, shops and a market place. […]

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Africa’s free trade zone on the rails

The African free-trade zone came into effect on Thursday after the 22nd member country of the AU ratified the treaty last month, thus paving the way for the founding of the AfCFTA. The African Union (AU) hopes the agreement will create a continental $2.5 trillion market of 1.2 billion people and will be the biggest […]

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South African companies eye investment in Angola’s oil sector

South African companies eye investment in Angola’s oil sector

The South African Oil & Gas Alliance (SAOGA) is eyeing more investment in the Angola oil and gas sector to strengthen existing relations between the two countries and aid in the formation of commercial partnerships and joint ventures. According to Niall Kramer, CEO of SAOGA, the oil-rich southern African nation remains a strategic and significant […]

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Tunisia expects to receive 9 million tourists in 2019

Tunisia expects to receive 9 million tourists in 2019

Tunisian government said it is expecting 9 million tourists in 2019. About 2 million people had visited the country as of May 10, 24% up from last year. The country seeks to attract 1 million French tourists, 640,000 Russian tourists, and 390,000 German tourists this season. Last month, the Minister of Tourism Rene Trabelsi said […]

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Mozambique Okays multi-million LNG project

Mozambique has approved the development of the multibillion-dollar Rovuma liquefied natural gas (LNG) project, ExxonMobil and ENI have confirmed. Exxon Mobil bought half of Eni’s 50 percent stake in the project two years ago for $2.8 billion. According to the president of Exxon, the development plan approval marks another significant step toward a final investment […]

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Morocco, Guinea sign cooperation deal in mining sector

Morocco and Guinea early this week signed a cooperation agreement in the areas of mining and geology. The agreement was initialed in Rabat by Moroccan Minister of Energy and mining Aziz Rabbah and his Guinean counterpart Abdoulaye Magassouba. The deal will pave the way for the elaboration a roadmap for cooperation in the fields of […]

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UAE investments in Egypt reach $6.66 billion in 2018

UAE investments in Egypt slightly went up in 2018 to reach $6.66 billion compared to $6.513 billion in 2017. The figures were disclosed by UAE ambassador to Cairo Gomaa Mubarak al-Junaibi during the fourth meeting of the UAE investors in Egypt. With a total of $6.66 billion investment last year, the UAE stands out as […]

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Microsoft launches $100m Development Centers in Africa

Tech giant Microsoft has launched a $100 million Africa Development Centre (ADC) with offices in Kenya and Nigeria. The program will support the recruitment of 100 full-time engineers by the end of the year, and 500 engineers by the end of 2023. The tech company is betting on African innovation in fields like fintech, agritech […]

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