First Independent Mena Newspaper
Chinese power and fiber optic cable manufacturer Hengtong will set up a plant in Egypt to produce fiber cable as result of a deal between the Chinese company and the Suez Canal Economic Zone (SCZONE). Hengtong will invest $18 million for the project with a capacity of up to 2 million kilometers in the zone. […]
Egypt Wednesday August 30 accorded South Korean tech giant Samsung a golden license to set up a mobile phone plant to produce, after the North African provided the firm another permit to manufacture tablets for educational use. The future factory, 6,000 square meters, is expected to generate 768 direct and indirect jobs and located in […]
British Petroleum (BP), an oil and gas global giant, announced Monday August 28 plans to inject $3.5 billion in Egypt for the next three years. BP’s chief executive Bernard Looney made the announcement after meeting with President Abdelfattah al-Sisi. The investments will go towards research, exploration and development, the office of the Egyptian leader announced. […]
Danfoss, a Danish energy solutions company, is eyeing the growing data centre market in Kenya’s data center sector, partnering with local companies and institutions to grow its foothold in the East African country that has long harbored the ambition to become the regional petroleum hub. Through partnerships with Kenyan companies, alliances with universities, and internship […]
Benin has secured an 80 million euros loan facility from the African Development Bank (AfDB) to improve and expand Cotonou harbor, one of the main maritime access points for landlocked countries in West Africa. The loan is split into two: €55 million from the African Development Bank and €25 million from Africa Growing Together Fund, […]
Africa50, an infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable projects, signed Monday in the Togolese capital of Lome, a Memorandum of Understanding (MoU) with the International Solar Alliance (ISA) to support and finance solar projects in Africa. The deal, Africa50 notes, advances the organizations’ mutual goal of increasing […]
Sunu Finance group has pulled out as main shareholder from Cote Ivoire’s trade and industry bank BICICI now controlled by a State-run consortium, “Sika Finance” reports. The holding has sold its 19.11 shares for $35.6 million to Abidjan-based Brandon & MCain Capital, an investment firm founded by Ahmed Cisse, the President of Côte d’Ivoire’s employers’ […]
Netherlands’ Prime Minister Mark Rutte indicated Monday June 26 that the European country is keen to pump more investments in Tunisia, chiefly into renewable energy and water sectors. Rutte held a telephone conversation with President Kais Saied. The Tunisian leader on the other hands expressed the desire to see both countries giving new momentum to […]
Senegal’s investment promotion and grand projects agency, APIX, will organize on July 6-8 the country’s first “Invest in Senegal” Forum seeking the development of local and regional markets. APIX in a statement argues that the event is meant to draw benefits of the African Continental Free Trade Area (AfCFTA) and promote investment opportunities in Senegal […]
Togo and Canada have expressed their keenness to increase trade between the two countries with a bilateral market estimated at $65.2 million in 2021. Mary NG, Canada Minister of Trade met in Ottawa with his Togolese counterpart Kodjo Adedze last week, the Togolese government announced Sunday. The administration of President Faure Gnassingbé said NG and […]