Made in Ethiopia: Fashion retailer H&M looks to sub-Saharan Africa for suppliers. Intégration Africaine: L’exemple par le Rwanda et le Maroc. Gicam seeks 24 acres in Côte d’Ivoire for Cameroonian investors. (Business in Cameroon) - At the 4th Forum Investir in Côte d’Ivoire which just came to a close in Abidjan, the president of Groupement interpatronal du Cameroun (Gicam), André Fotso (photo), urged officials of that country to facilitate the entrance of Cameroonian companies wishing to invest in the West African country.
The request extended by the Cameroonian business community leader, based on information published by GICAM after the delegation’s departure, was made due to two factors: the country’s new economic dynamism with close to 10% in growth and Côte d’Ivoire’s position as the engine driving the regional market of some 300 million consumers. Tanzania asks for Algerian help in oil, gas sector. Tanzania has sought Algeria’s expertise in oil and gas exploration and development of the sector.
The East African nation signed MoU with the government of Algeria in December last year and will invite the North African nation for exploration of oil and gas blocks in Songosongo-West and other onshore blocks the government owns through Tanzania Petroleum Development Corporation (TPDC) without going through the tendering process, said East African Business Week quoting Minister of Energy and Minerals Sospeter Muhongo.
LNG competence and pipeline technology are two main areas which are of interest to Tanzania, the minister said. “Tanzania has developed mineral resources but the engine of development lies in the development of oil and gas sector,” Algerian Minister of Energy and Mines Youcef Yousfi was quoted by East African Business Week as saying. Fina Bank Uganda sold to Nigerian bank group. By John Odyek Fina bank operations in Rwanda, Uganda and Kenya will now be renamed and rebranded as subsidiaries of Guaranty Trust (GT) Bank, after the latter acquiring at least 70% stake in shares in the three regional countries.
The move comes after customary regulatory approvals which have been obtained after GT Bank and the shareholders of Fina Bank entered into a share sale and purchase agreement for the acquisition of 70% stake in Fina Bank last July. This means that GT Bank will have a good percentage of the US$338 million Fina Bank’s assets and operations in Kenya, Rwanda and Uganda, but it is also expected that GT bank will not change with the current management of Fina.
An official at Fina Bank Uganda said the company had rebranded to GT Bank Uganda but could not comment because they were not authorized to do so. The top officials of the bank were out of office by press time. South Africa’s Nampak buys Nigerian beverage can maker for US$301 million. Alucan Investments makes cans for the beer, malt and the soft drink industry with a capacity to produce 1.1 billion cans per year.
(Image source: stu_spivack/Flickr)South Africa’s Nampak has agreed to buy Nigerian beverage can manufacturer Alucan Investments for US$301mn as part of its plan to expand its reach outside its home market Alucan Investments, which is situated in the Agbara industrial area near Lagos, makes cans for the beer, malt and the soft drink industry with a capacity to produce 1.1 billion cans per year. According to Reuters, Johannesburg-based Nampak said it also has an option to buy a subsidiary of Alucan Investments, a rigid plastic packaging unit, at a later date. Nampak expects a sales growth of 35 per cent in markets outside of South Africa in the near term, following the acquistion of Alucan Investments.
Kenyan Risk Takers Invest In Mogadishu. Dangote’s $400m Zambia cement plant ready February -Envoy. The Nigerian High Commissioner to Zambia, Mrs Sifawu Momoh, has said one of the Nigerian’s foremost investors, Dangote Group Plc, will soon complete the establishment of a cement factory estimated at $400m in Zambia.
She said the factory, which was billed for inauguration in February, was part of the Federal Government’s strategy to strengthen economic ties with Zambia. Momoh stated this when she received a team of the Technical Aids Corps led by Mr. Salmon Shittu, from Nigeria, who briefed the envoy on new strategies being adopted by the agency to ensure the effective operations of the TAC scheme in its mandate countries. The High Commissioner, according to a statement by TAC in Abuja on Thursday, explained that the Dangote’s cement firm, when fully operational in Zambia, would give direct employment to many citizens of the country and boost the economic ties of both countries.
Afriland First Bank finalise le rachat d'Access Bank Côte d'Ivoire. East Africa's top economies launch cross-border payment system. Agribusiness investor Zeder deepens roots in Zambia. PSG-controlled agribusiness investor Zeder has sunk its roots deeper into the fertile soils of Zambia.
On Wednesday, Zeder announced the acquisition of Mpongwe Milling — a privately owned maize and wheat mill based in the Zambian Copperbelt — for $27.5m (R275m). Groupe Alliances : 54.000 logements à construire en Afrique. Commerce intra-africain: 65 000 milliards de F d’échanges en 2011. Nigerian company to set up shop in SA as Dep Minister pushes incentives. By: Natalie Greve Nigeria-based refractory products manufacturer Eunaco Refractionaries is ready to open operations in South Africa, after establishing a joint venture with a South African company in Richards Bay.
The ceramic heat containment products manufacturer would operate as J Manuel Supplies and Logistics and manufacture products from February 2014. CEO Chudi Obinwa said the company chose South Africa owing to its strategic location in terms of access to trade from Asia, as well as its available expertise and technology. Mpany looks to expand into West and North Africa. Kenya Airways et Air Côte d'Ivoire se rapprochent.
Vodacom opens office in Ethiopia, eyes foothold. Dismantling Inter-Border Trade Barriers Could Earn Africa $20bn – World Bank. VENTURES AFRICA – If African leaders can draft an accord aimed at taking down current cross-border trade hurdles in sub-Saharan Africa, the continent will earn an additional $20 billion in annual earnings, according to the World Bank.
Dismantling border trade barriers could also bolster the continent’s food trade over the next couple of years, avoiding the negative impact of Africa’s deteriorating drought and surging food prices in the process. “However, this potential is not being realised because farmers face more trade barriers in getting their food to market than anywhere else in the world. Too often borders get in the way of getting food to homes and communities which are struggling with too little to eat,” Makhtar Diop, World Bank’s Vice President for Africa, says. LAFICO to Develop Tunisian Resort. Posted on 26 November 2013.
Tags: hotels, Italy, Libyan Arab Foreign Investment Company (LAFICO), Tunisia The Libyan Arab Foreign Investment Company (LAFICO) plans to invest between $80 and $100 million to build a new 5-star resort in Tunis. According to a report from DirectInfo, the development would be on the site currently occupied by the Hotel du Lac, which is expected to be demolished in early 2014. With one or two towers of 30 floors, it would be the tallest building in Tunisia, and would include a 5-star luxury hotel, in addition to office space and shopping centres.
The scheme, designed by Italian architects, should be completed within 24 months. Anchors of Integration & Trade Finance Flows [2010 Data. Accelerating Growth Through Improved Intra-Africa Trade. Experts from the Africa Growth Initiative at Brookings have been asked by the African Union Mission in Washington to contribute practical ideas for increasing intra-African trade for the African Union’s consideration.
The policy briefs that make up this report highlight the major barriers to intraregional trade, provide country-specific case studies and present thoughtful policy recommendations. It is hoped that the African Union and the other stakeholders in Africa will find this analysis useful in the promotion of trade on the continent. Download the full report » (PDF) Africa white paper highlights transaction banking trends. Brussels, 10 September 2013 - SWIFT, the financial messaging provider for more than 10,000 banks, securities institutions and corporate customers in 212 countries and territories, today published a white paper, "Africa Payments: Insights into African transaction flows.
Based on analysis of SWIFT traffic, it offers unique insights into transaction flows between African countries, and between Africa and other regions. S’African firm invests $270m in Nigeria’s oil industry. CAMAC Energy Incorporated has entered into a definitive agreement with the Public Investment Corporation Limited of South Africa for a $270m equity investment to boost its operation in the Nigerian oil and gas industry. The investment is expected to come through a private placement of 376,884,422 shares of common stock, representing about 30 per cent ownership interest in CMAC Energy Incorporated. Part of the deal is an agreement to list the common stock of the companies on the Johannesburg Stock Exchange.
A statement made available to our correspondent on Friday further said the South African investment was aimed at funding CAMAC’s acquisition of the remaining economic interests in the production sharing contracts covering Oil Mining Leases 120 and 121 offshore Nigeria from Allied Energy Plc. Allied is a wholly owned subsidiary of CAMAC Energy Holdings Limited, the 57.2 per cent majority stockholder of the company. The Chairman and Chief Executive Officer, CAMAC Energy, Dr. Le Nigeria colonise déjà l’économie camerounaise. Taleveras, Afren seal upstream oil, gas deal in Ivory Coast. Nigerian indigenous independent oil and gas company, Taleveras, has sealed a fresh upstream deal with the government of Ivory Coast for offshore Block CI-523. The President and CEO of Taleveras Group, Mr. Igho Sanomi, who led the firm’s delegation to the francophone West African state, signed the deal with officials of the Ministry of Energy and Petroleum, PETROCI, the national oil company of Ivory Coast, and Afren, the London-listed independent oil and gas company.
Foschini Group to accelerate Africa strategy - Botswana Guardian. In next five years, Foschini Group aims to accelerate its expansion into the rest of Africa and expects to be trading out of approximately 300 stores by 2018, the retailer has said. The continent’s consumer-facing industries are expected to grow by $400bn by 2020, presenting a compelling investment case for retailers as home-market growth slows. The group trades out of 116 stores outside South Africa at present, in Namibia, Botswana, Zambia, Lesotho, Swaziland and Nigeria and have plans to open outlets in Ghana, Angola and Mozambique. Other clothing companies such as Truworths and Mr Price are also accelerating expansion into the rest of the continent.
Foschini on Thursday reported a 3.8% rise in diluted headline earnings per share rose to 411.2c for the half-year ended September 30. Suivez l\'actualité en RDC, en Afrique centrale et dans le monde sur Direct.cd, 1er site en République démocratique. Les articles du journ. Suivez l\'actualité en RDC, en Afrique centrale et dans le monde sur Direct.cd, 1er site en République démocratique. Les articles du journal Le Matoiseur et toute l\'actualité e. 2013 : l’Algérie est de retour en Afrique. (Agence Ecofin) - Depuis plusieurs mois l’Algérie multiplie les signes d’intérêt pour l’Afrique, aussi bien sur le plan pétrolier que politique, financier, diplomatique, militaire ou culturel. Sur le plan financier, après avoir annulé en 2012 une dette cumulée de 3 milliards $ pour 10 pays africains, elle a à nouveau « fait un geste » cette année, au titre de la « solidarité africaine », en abandonnant 902 millions $ de créances qu’elle détenait sur 14 pays (le Bénin, Burkina Faso, Congo, l’Ethiopie, Guinée, Guinée Bissau, Mauritanie, au Mali, Mozambique, Niger, Sao Tomé et Principe, Sénégal, Seychelles et Tanzanie).
Mohamed Laksaci, gouverneur de la Banque d'Algérie, a été élu dans le même temps président de l'Association des banques centrales d'Afrique, qui planche sur le projet de création de la banque centrale africaine. B to B entre entrepreneurs marocains et camerounais du secteur des TIC le 4 novembre 2013 à Douala. Une vingtaine de PDG d’entreprises marocaines du secteur des TIC rencontrent le 4 novembre 2013 à Douala, la capitale économique du Cameroun, des responsables d’entreprises exerçant dans le même secteur au Cameroun et au Gabon.
Cette mission des opérateurs économiques marocains au Cameroun va s’achever le 5 novembre 2013 par une rencontre avec des autorités publiques camerounaises, ainsi que des responsables du secteur privé. Ethiopia, Algeria set to open direct air links. Ethiopia, Algeria set to open direct air links Addis Ababa, Ethiopia (PANA) - Ethiopian Airlines and Air Algerie are poised to start direct flights linking Addis Ababa and Algiers, as the governments of the two countries have affirmed their intention to bolster bilateral ties. Trans Saharan road project : New planning policy to spurs trading with Africa. Cevital s'installe au Soudan et envisage des financements chez les BRICS. L’Ethiopien Holland Car monte une usine de bus en RDC - Direct.
Africa. Tanzanian fi rm plans $50m fruit plant in Benue. Ethiopian, ASKY Airlines open cargo hub in Togo. أفتتاح طريق سريع يربط بين مصر والسودان يناير المقبل Obasanjo Tasks African Export-Import Bank On Continental Growth. Nigeria to get 42mw of electricity from Cameroon. Ethiopian becomes strategic partner with new Malawi Airlines. Egyptians invest $50m in Ethiopia amid escalating tensions.
Malawi to connect to regional power network via Mozambique. Algeria to train Angolan personnel in geology and mines. Coopération économique: Les contacts avec l’Algérie et la Libye s’intensifient. Commission mixte maroco-sénégalaise. 7e caravane de partenariat en Afrique. Four African subsidiaries to Delattre Levivier Maroc - DLM, leader de la construction métallique et de montage au Maroc. Maroc DLM prochainement en Côte d’Ivoire et au Ghana.
Maroc Eaton passe à la vitesse supérieure en Afrique de l’ouest. Les Afriques. Kenya Airways Calls for Merger With Ethiopian,South African Airways. Mobile aggregation service company seeks African partners. PIC plans to expand real estate empire into Africa - eProp - Commercial Property News Properties. PIC in African Property Investment drive. SA wine producer to set up plant in Kenya. Rwandair adds services to Ghana and Cameroon. SA investors flock to Mauritius. Egypt to set up industrial zones in Algeria, Ethiopia - Economy - Business. Egypt State Information Service. Egypt State Information Service. "ابدأ" تعقد اجتماعات لزيادة حجم التبادل التجارى مع الدول الأفريقية. Maroc Côte d'ivoire - convention dans le secteur de transport. Rwandans eye bigger market with commodity exchange - Business - www.theeastafrican.co.ke.
Catalyst buys into top Ethiopian bottling firm - Business - www.theeastafrican.co.ke. South Africa’s PPC Eyes $200m Expansion To DRC. Imperial takes African logistics leap with acquisition of Nigeria’s MDS - Companies. South African group Aveng invests in sleeper production in Mozambique. Trade law centre » Regional integration is a must for Africa. SA, Nigeria set to rev up trade. الكتاتني:حان الوقت لتستفيد مصر من الاستثمار بالسودان Africa Investor - Ai News. Kenya topples India, China as major investor in East Africa.
Surprise! Africa’s Fastest-Growing Foreign Direct Investor Is Now...Africa. La Tunisie prend du retard en Afrique subsaharienne. Tsogo Sun Group consacre 100 millions $ à son développement hôtelier africain. Algérie : vers un rapprochement Alger-Maputo fondé sur l’énergie. الطريق الصحراوي الذي يربط المغرب بإفريقيا اقتصاد واعد للمغرب وغرب افريقيا Mohamed El Kettani, Attijariwafa bank CEO. الاستثمارات المصرية في ليبيا Egypte: EFG Hermes is targeting wealthy African investors. Libyan airline to launch flights to Niger in April. Kasumbalesa Border. Developing a Pan African Free Trade Zone. Hit Radio se développe en Afrique. Entreprise marocaine au gabon. Le groupe marocain Addoha annonce l’expansion de ses activités en Côte d’Ivoire.
Le groupe Sefrioui implante des cimenteries dans 5 pays d'Afrique et compte y construire des logements sociaux. Cameroun : Oil Libya accroît ses investissements dans distribution du gaz domestique. Invest Africa Episode 7: Regional Integration & Cooperation. MEDI 1 TV - Actualités : Cote d’ivoire : portrait d’un investisseur marocain. RAM to serve Dakar 17 times per week from April. Ethiopia to Build Road Linking It With Sudan, South Sudan, Kenya.
Kenya's CIC Insurance plans expansion into South Sudan, Uganda. Partenariat économique Maroc-Gabon: un potentiel énorme et des opportunités à saisir.