First Independent Mena Newspaper
The German leader in cables and wires industry, Helukabel, has opened lately a subsidiary in Casablanca, Morocco, described as a dynamic and growing market. It is the second subsidiary of the electrical connection technology specialist in the African continent. Helukabel has been present in South Africa since 2010. Commenting the opening of a new site […]
Turkish major appliance and consumer electronics brand Beko indicated Thursday it has invested $100 million in the Egyptian market for their plant project. General Manager of Beko Egypt Umit Günel made the announcement in a press release. The company in December laid the foundation stone of its Beko Egypt factory. The plant is set to […]
The summit of the African Union (AU) in February 2023 has shown that the bloc is in the process of accession to the G20 grouping as a member while also becoming a participant of the BRICS+ meetings, which would in turn enhance Africa’s global influence. While Africa lacks a permanent seat on the UN Security […]
The European Investment Bank has invested €2.5 billion in Morocco over the last five years, making the North African Kingdom the 2nd largest recipient of EIB funding in the southern Mediterranean region. Speaking at a press conference held Wednesday in Rabat, Ricardo Mourinho Félix, EIB Vice-President said the bank’s investment supported Morocco’s development and its […]
Ghana and Gambia, both of which were recently welcomed as new members of the Digital Cooperation Organization (DCO), are now gearing up for tech-based economies where knowledge on 4IR is the new business capital. As legacy economies continue to fall out of favor the world over, the two west African countries are ramping up efforts […]
Saudi Arabia has put a plan by its sovereign wealth fund to acquire the United Bank of Egypt on hold because of a disagreement with the Egyptian authorities over its valuation, Reuters reports citing two sources familiar with the matter. The pause is unprecedented in the spree of investments done by the Gulf country in […]
The first European Union-Kenya Business Forum concluded on Wednesday Feb.22 in capital, Nairobi, with Kenya’s William Ruto urging the EU to conclude economic partnership deal with the East African Community (EAC) regional bloc. The two-day forum brought together more than 500 participants including politicians, business executives, experts and diplomats. Ruto participated in the signing of […]
Zimbabwe plans to create an offshore financial center in the resort city of Victoria Falls that the government hopes will emulate the success of Dubai and the Isle of Man in attracting foreign investment. “The trigger is the success of the VFEX,” Zimbabwean Finance Minister Mthuli Ncube said, referring to the US dollar-denominated Victoria Falls […]
The partnership between Kenya Airways and South African Airways, which want to form a pan-African airline, will be treated as a merger on the back of the effect that the joint venture will have on competition in the region, the COMESA Competition Commission (CCC) has said. Kenya’s flag carrier operates in countries that are members […]
The partnership set between the World Bank and Morocco is constantly evolving and gaining momentum thanks to constant dialogue, better coordination and shared socio-economic development vision. WB Managing Director of Operations, Axel van Trotsenburg, who is currently visiting the country, said the Bank will continue to support the efforts made by the North African country […]