OCP-logo

Egypt’s biggest investment bank takes over state-run Arab Investment Bank

EFG Hermes, Egypt’s biggest investment bank, has completed its takeover of state-owned Arab Investment Bank for an undisclosed transaction. EFG Hermes, Arab News reports, agreed to purchase a 51% stake in the bank in May, with the Sovereign Fund of Egypt also acquiring a 25% stake and the current owner, Egypt’s state-owned National Investment Bank […]

Moroccan tourism authority inks deal with Israeli airline Israir to promote Morocco destination

Morocco’s tourism authority, ONMT, has signed a deal with Israeli private carrier Israir to promote the kingdom destination as both countries boost ties. ONMT in a statement issued on Tuesday indicated the deal, signed by ONMT Director Adel El Fakir, and owner of Israeli airline Rami Levi, will enable Israir to operate two weekly flights […]

Mauritania’s bid to become Africa’s energy hub driven by gas discoveries, green hydrogen agenda

Mauritania may be on the verge of a major transformation from its largely agriculture-based economy to become Africa’s major energy hub thanks to gas gushing from the Greater Tortue Ahmeyim (GTA) development, a massive liquefied natural gas (LNG) field off its Atlantic coast. Mauritania and its south-western neighbor Senegal have recently achieved a historic milestone […]