oil-platform-flare

Angola: new Cabinda oil refinery secures funding led by Gemcorp, AFC, Afreximbank

Gemcorp Holdings Ltd. (GHL), Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank) have announced the financial close of Cabinda Oil Refinery in Angola with a US$335-million project financing facility. The announcement comes as the project spearheaded by Gemcorp, a UK-based asset management company, to build a refinery in Angola has been well behind schedule, […]

Kenya closes border with Somalia on backdrop of maritime dispute

It’s official. The government of Kenya has closed a border with neighboring Somalia indefinitely with cross-border trade banned in the process. Rising tensions between Kenya and Somalia over political and economic interests have seen the two East African countries also spar pettily over border and immigration rules in recent months. The border closure is the […]

US Gentex to build automotive technology plant in Morocco by 2028

US automotive technology supplier Gentex Corp plans to open a manufacturing facility in Morocco by 2028, strengthening the North African country’s position as a hub for the automotive industry and bringing the company closer to its European customers. The maker of auto-dimming rear-view mirrors and vehicle electronics has signed a memorandum of understanding with Moroccan […]