Morocco’s Ymmy Finance Holding wins deal to develop Niger’s capital for $3.3 bln

Morocco’s Ymmy Finance Holding and Niger’s authorities signed deals worth $3.3 bln to facelift Niamey by building new industrial, recreational and energy facilities.

Six projects have been retained in the agreements over 8 years as part of a public-private partnership after two years of talks between officials of the Holding and Niamey authorities.

The projects include agri-food facilities relating to livestock fattening, fodder crops, slaughterhouses, meat processing and milk and poultry farming, in addition to a new city offering 36,960 social housing units and a commercial center of 105 hectares.

The deal also provides for building a smart city along the banks of Niger river and an industrial area as well as the setting up of 20,000 solar panels made in Morocco.

Ymmy Finance Holding’s chief Ahmed Lotfi was received by the head of Niger’s government to discuss further cooperation in the fields of education, infrastructure and the modernization of the city, local Media reported.

Many Moroccan companies are active in urban development projects around the continent such as Marchica which is about to complete its works to upgrade the Bay of Cocody in Abidjan.