Morocco rural electrification

China’s Ganfeng seeks full control of Lithium mine in Mali

China’s Ganfeng Lithium Group Co. plans to acquire 40% of the Goulamina lithium project in Mali from Australia’s Leo Lithium Ltd, to take full control of the precious mine. Lithium together with Cobalt and other critical minerals for energy transition are at the heart of fierce competition in Africa between Chinese and Western companies. A […]

Saudi investment company in Egypt acquires minority stakes in 3 other listed companies

The recently-launched Saudi-Egyptian Investment Company (SEIC) has reportedly added three other Egyptian listed company to its portfolio after acquiring fertilizer giant MOPCO. Abu Qir Fertizilers and Chemical Industries, Alexandria Container and Cargo Handling and E-Finance for Financial and Digital Investments are the companies, Zawya reports citing Egypt’s planning ministry’s website. SEIC also reportedly acquired 25 […]

Morocco’s subsidies spending spikes to $1 bln so far this year

Morocco’s spending on cooking gas, sugar and flour subsidies hit 10 billion dirhams ($1 bln) so far this year, compared with 3.8 billion dirhams the same period last year, official figures showed.   This 170% increase is mainly due to the simultaneous post-covid recovery which created high demand on commodities, worsened by an offer shortage […]