EIB

Nigeria drops to Africa’s 4th biggest oil producer, as 437,000 barrels are stolen daily

Nigeria is facing a record reduction in oil production, dropping from the first largest producer in Africa to the fourth, behind Angola, Algeria and Libya, according to the latest report of the Organization of Petroleum Exporting Countries (OPEC). The monthly oil market report for August, published by the oil cartel OPEC, showed that Nigeria’s production […]

Egypt extends to three months visa for foreign yachts in bid to boost sector

Egypt has decided to grant foreign yacht tourists three-month visas, as opposed to the previous one-month allowance, in a move to boost the sector. The Ministry of Transport indicated in a statement issued Tuesday July 25 that the move is meant to remove all obstacles facing foreign yacht tourists along the Egyptian coasts and to […]

The Fiasco of Algeria’s Car Industry

“Disguised imports”. It is thus that critics have described Algeria’s policy to set up car assembly plants. Since 2012, Algeria has been trying to attract foreign investments by automotive giants in order to reduce its imports bill, but the results so far are disappointing. Indeed, the opening of a car assembly plant by Volkswagen in […]