Ghana and Morocco are in talks to harmonize operations in the two countries’ stock markets allowing easier trading.
French-made high-speed train, better known as TGV has made its way to Morocco at the Port Tangier Med..
Nevine Kashmiri appointed United Bank of Egypt's assistant Managing Director of funding large enterprises, SMEs
The board of United Bank of Egypt has appointed Nevine Kashmiri as the assistant to the managing director of the department for funding large, and small- and medium-sized enterprises (SMEs).
NAEEM Shares & Bonds brokerage has announced that it has joined Nasdaq Dubai’s equity futures platform as a member, in a move aiming to connect its Emirati, Egyptian, and international clients to the fast-growing market.
The Center for Middle Eastern Studies at Harvard University has opened its first overseas office, in Tunisia, home to a tradition of learning and research that extends from Antiquity to the present.
Middle Eastern and North African streaming and Video on Demand platform Icflix has partnered with Orange Tunisia to offer the latter customers’ access to its content’s library as it seeks entry to the North African country.
Four phosphate processing projects have been recently approved by the government as part of encouraging processing industry, according to the Minister of Industry and Mines Abdessalem Bouchouareb.
One of Morocco’s leading commercial banks, BMCE bank has been ordered to pay up to $90 million in taxes for the financial years covering 2012-2015 in what is attributed to engaging in acts of tax evasion
Banque du Caire aims to inject more than $53 million in a number of economic sectors during 2017. These sectors include transportation, logistics, construction, industry, food, and commodities.
Tunisia has received a $2.2 million donation from the Swiss State Secretariat for Economic Affairs to assist the North African country achieve the first phase of "the sustainable urban development programme of Sousse and other cities" in 2017.
Algeria is set to commission an assembly plant for Renault and Volvo industrial vehicles under an Algeria- EU partnership.
[Egypt] Pickalbatros Holding for Financial Investments Company sets eyes on ultra-modern hospitality facility
As part of its expansion plan Pickalbatros Holding for Financial Investments Company has bought a plot of land for the establishment of a new hotel facility in Fifth Settlement, New Cairo Egypt. The hotel is also expected to include an aqua park.
Gulf’s third largest Islamic bank, Qatar International Islamic bank has received a nod to start operation in Morocco.
Diversified hospitality company Marriott International, Inc has announced further expansion in Algeria with the opening of its seventh hotel in Algeria, Sheraton Annaba.
The Housing and Development Bank (HDB) increased the number of its branches to 70 by the end of 2016, after the inauguration of the latest branch in Port Said as the bank seeks to grow its foothold in the region and continent.
Egypt has introduced the country’s first bankruptcy law which among others seek to minimize the need for individuals or companies to resort to courts while abolishing imprisonment in bankruptcy related cases.
With a growing construction industry and government’s increased investment in capital projects, Algeria is looking to increase cement production to meet this growing demand. It is against this backdrop that a second production unit of cement plant
Egypt’s construction sector is the most promising in the Middle East and Northern African regions, study
The Middle East North Africa construction sector is surprisingly diverse in terms of exposure, profitability, and metrics, making it difficult to draw broad conclusions, yet currently Egypt is the most prosperous construction market in the Middle East and North Africa (MENA) region despite the effect of the currency’s devaluation and the high inflation rate, according to a recently released HSBC’s “MENA construction” report.
Morocco’s Central Bank has approved five requests to open participative banks and allowed three banks to sell participative products in the northern African country.
Libya’s National Oil Company (NOC) said it has reopened two oilfields this week, as it continues to recover oil production lost during the civil strife that followed the downfall of the country’s former dictator, Muammar Gaddafi, five years ago.
Moroccan billionaire Othman Benjelloun was ranked first in Morocco in Forbes’ 2016 list of the richest people in the Arab world. With a fortune estimated at more than $1.9 billion, the Moroccan businessman and investor also ranked as the 19th richest people in the Arab world
Rwanda and Egypt heads of state have agreed on a plan to make the River Nile a transportation highway to the Mediterranean Sea to reduce import-export costs.
Atlas Hospitality and FTI Group have set up a joint venture aiming at investing $108 million in the Moroccan hospitality industry.
Air Algerie has received, for the sixth time in a row, the Operational Safety Audit (IOSA) certification, delivered by the International Air Transport Association (IATA), and which is required to serve Europe, the national airline said in a statement.
A delegation of Mercedes-Benz’s directors are set to visit Egypt in early 2017 to discuss expanding their investments in the Egyptian market.
Competition law in Africa is becoming increasingly active and, in certain respects, complex. The number of competition regimes, and the relationships between them, is on the increas
An agreement has been signed between Tunisia and Italy on the mechanism of debt recycling to convert $27 million of Tunisia’s debts to Italy into development projects in inland regions.
Kenya, Nigeria and Morocco are the fastest growing reinsurance markets in Africa, driven by the size and diversity of their economies, a young and growing population and advanced regulatory regimes, Dr. Schanz, Alms & Company said in its yearly survey
Hotel operator AccorHotels has announced signing of four new hotel management agreements with ARCO. The new hotels will be located on Egypt’s North Coast, to be opened by 2022.
Algeria is positioning itself as the North African manufacturing hub with three Japanese car makers having already expressed interest to set up auto and truck manufacturing plants. Two of them have already taken the steps for the execution of their projects according to Japan’s ambassador to Algeria Masaya Fujiwara.
Morocco has announced that it will issue the first government backed sukuk commonly referred to as Islamic bonds before the end of next year as the North African country seeks to widen the revenue to support government project.
[Morocco] Heirs Holdings and Banque Centrale Populaire in deal to scout for investment opportunities in Africa
Leading Morocco bank Banque Centrale Populaire and African proprietary investment company Heirs Holdings have signed a Memorandum of understanding to collaborate on investing, co-financing, and exchange of information encouraging the identification of mutually beneficial investment opportunities across Africa.
Distributors of petroleum products and petrol station owners have launched a campaign against contraband fuel in Tunisia.
The Egyptian and Chinese central banks have signed a $2.6 billion currency swap agreement which would ease pressure on Cairo’s foreign reserves, Egypt’s central bank said.
The Tunisia Export Promotion Centre, CEPEX, has sought to empower SMEs to develop websites and strengthen their digital identity by granting subsidies through its financial support system dubbed FOPRODEX.
The World Bank Group and Ithmar Capital, a Moroccan Sovereign Investment Fund, have entered into a Memorandum of Understanding relating to the establishment of a Green Growth Infrastructure Facility for Africa (GGIF Africa), the first pan-African fund dedicated to green investment in the continent.
National oil group Sonatrach has set eyes on the car industry with plans to produce five million tons of tyres per year according to its Vice president for de downstream activity Akli Remini.
Soha Soliman, the former managing director of the Social Fund for Development, SFD, has been appointed deputy chairperson of Banque du Caire following a cabinet decree.
Economies around the world continue to make progress in simplifying and reducing the burden of tax compliance on business, according to the latest edition of Paying Taxes 2017, a report by the World Bank Group and PwC.
Silicon Waha a company tasked with establishing and developing technology zones in Egypt has signed a series of agreements with China electronics company ZTE and Transsion, the manufacturers of Tecno and Itel mobile phones ,in a first step of producing electronics locally.
The Tunisian government wants to target corruption and raise tax revenue next year in an effort to bring the economy toward its potential of 5 per cent annual growth according to the Prime Minister Youssef Al Shahed.
Integrated oil and gas company BP has bought a 10 per cent stake in Shorouk offshore concession located around the Mediterrarean Sea and owned by Italian company Eni, for $375 million. The stake includes the Zohr gas field estimated at 30 cubic feet.
Commercial exchanges between Cameroon and Morocco have risen to a record $98 million this year in what is being attributed to cordial relations between the two countries according to statistics from the Chamber of Commerce, Industries, Mine and Arts (CCIMA) of Cameroon.
German car manufacturer Volkswagen and Sovac group, official representative of Volkswagen in Algeria, have signed an agreement on the creation of a plant that will assemble cars of this brand in Algeria.
A Belgian conglomerate will construct Africa’s first automated container terminal in Africa at Tangier MedPort, according to an announcement by APM Terminals – the Dutch company charged by the Moroccan government of overseeing large sections of the coastal area’s trade capacity development.
Algerian electrical and electronic products have emerged for the first time on the Mauritanian market with the inauguration, in Nouakchott, of a showroom as part of the promotion of non-hydrocarbon exports.
Oil and gas multinational BP has been ordered to pay National Bank of Abu Dhabi over $68 million following the abrupt closure of SAMIR, Morocco’s sole refinery in August 2015.
Egypt’s feed in tariff projects have been thrown into disarray following a growing list of companies pulling out of the project, with the current numbers standing at 19.
Algeria has continue to record a ballooning trade deficit occasioned by a drop in oil prices which has heralded economic problems for the North African country.
Siemens, PEPS, and NST have signed an agreement to assist Morocco produce electricity through solid waste as the country looks to embracing renewable energy as part of its 2030 vision.
Morocco has signed an agreement with Ethiopia to build a giant fertilizer unit aimed at making Addis Ababa self-reliant in fertilizer by 2025.
Palmier Real Estate Investment and Project Management intends to launch a tourist resort in Marsa Matrouh located on an area of 10 acres with investments estimated at $9 million, according to company chairperson Mohamed Abdel Aziz.
Networking and telecommunications equipment and services company Ericsson has trained its eyes on the burgeoning demand for mobile internet services with the hope that it will also boost its sales.
Algeria’s Hidra Hydraulique and Russian REMA RTI have signed a partnership for the manufacture of hydraulic equipment in Algeria as Russia seeks to foray into the North African country buoyed by a growing manufacturing industry.
A Saudi based company has won the tender to develop the fourth phase of Noor Ouarzazate solar complex located in the Souss-Massa-Drâa area in Morocco.
National Bank of Egypt has signed a cooperation protocol with Misr Life Insurance as the lender looks to improving services to its customers and providing electronic banking services.
The Employment & Benefits team at pan-African law firm, Bowmans, has put together a Guide covering the employment consequences in business transfers in Botswana, Cameroon, Kenya, Madagascar, Nigeria, Senegal, South Africa, Uganda, Tanzania and Zambia.
Real estate company Samcrete Development has set aside$3.2 million to the real estate sector, with $128 million going to the administrative complexes and $77 million to be used for residential units.
The World Bank (WB) has announced the launch of $100 million in World Bank green bonds purchased by Bank Al-Maghrib, the Central Bank of Morocco, for its reserves management.
The first forum that has brought up Algeria and Mali economists has come up with a resolution to set up first of its kind joint business council to spearhead the interests of both countries.
In what points to growing consumerism and a boom in key sector of Algerian economy, the country’s ministry of Trade has indicated that it has issued 225 licenses for the import of vehicles, cement and reinforced concrete in 2016.
French telecom operator Orange is set to take over Morocco’s second largest telco Meditel before year end as Orange seeks to expand its foothold in the North African country.
Oil and gas powerhouse GE Oil& Gas has announced an expansion of its services facility in Egypt with an additional 2,00 square metres in the industrial free zone bringing its space to 5,000 square metres.
Forget bootstraps, Africa is a continent dragging itself up by its code strings to become a global player - but it needs more software developers.
A spike in import bill coupled with decreasing volume of exports outside hydrocarbons are eroding Algeria’s exchange reserves, economists have warned.
The Moroccan government has set aside $510 million for the Kenitra Atlantic port project as it seeks to modernize operations at the port.
Economic transformation can revive Africa’s growth rates while promoting development and climate goals, according to a new report from the New Climate Economy.
The World Bank welcomes Egypt’s recent economic and social reform measures including the floatation of the currency, measures to boost investment especially in Upper Egypt, adjusting energy prices to reflect market conditions, and strengthening the social safety net.
Orascom Hotels and Development has revealed that it has entered into an agreement for the rescheduling of loans worth $147 million, after delaying repayment of loan installments for three years and postponing interest on premiums to the end of the fiscal year 2017.
Petroleum company Vivo Energy has installed a rapid battery charging station for electric cars at a Shell station in between Casablanca and Marrakesh in Morocco.
Algeria’s national carrier Air Algerie is looking at launching new international routes as it seeks to reinforce the airline’s air transportation network.
Middle East’s largest bank by assets, Emirates NBD has announced the establishment of a specialized unit for financing small- and medium-sized enterprises as it seeks to implement the Central Bank of Egypt requirements even as it eyes expansion.
France, United Arabs Emirates and Spain are the largest sources of foreign direct investment in Morocco depicting a changing landscape in recent years according to a recent study released by the Moroccan government.
A year since car manufacturer Renault launched a car factory in Oran Western Algeria, the North African country has received numerous investors keen on investing in the automobile industry. This as investors view the country as a strategic zone for North African and Arab countries.
The Egyptian General Petroleum Corporation (EGPC) has signed a partnership agreement with Kuwait Energy for the Seba gas field located in southeast Basra, Iraq. The agreement stipulates that EGPC owns 15% of this field.
Online food delivery platform, Jumia Food is set to open its doors having partnered with 20 restaurants across Asian stores, Italian restaurants and popular fast food joints as it seeks to tap into growing middle class.
Leading online shopping and e commerce platform SOUQ.com has launched two innovative selling programmes targeting for small- and medium-sized enterprises (SMEs) as appetite for convenience and faster delivery of goods and services soars.
Sonatrach Company has said it is interested in investing in Sudan’s field of oil and gas.
A project targeting young entrepreneurs with innovative ideas aimed at creating solutions to today’s environmental challenges has attracted the attention of start ups and entrepreneurs with 22 companies having embraced it so far.
Nissan Egypt is set to cooperate with KidZania Cairo in establishing a role play automotive attraction that will provide younger generations with an opportunity to learn about Nissan products.
Algeria and China have signed have signed a framework cooperation agreement to boost industry cooperation between the two countries as Algeria looks to boost its nascent indsutries.
In what is meant to cement business and bilateral relations between Tanzania and Morocco, the two countries have signed 21 partnership agreements in areas like aviation, tourism, agriculture and oil and gas among others.
Morocco is losing up to $4 billion in untaxed revenue every year to the approximated 1.68 million informal economic operations it hosts.
General Electric in Algeria has opened up its garages to startups to test their prototypes coming at a time when majority have been struggling with access to a platform that can help them refine their prototypes before they are released in the market.
World economic index provider Standard and Poor’s has graded Morocco’s economy as stable in what it attributes to forecasted improvement in the country’s external and fiscal deficits, coupled with the benefits of the two year low oil prices unlike its North African peers.
Telecom Egypt is deploying Ciena’s GeoMesh solution and packet-optical platforms for reliable, low-latency connectivity to meet surging demands for high-bandwidth services on its national terrestrial network and submarine links between the Mediterranean and Asia.
Engineering behemoth Siemens has announced plans to start electricity generation trials in Egypt’s Borollos power plant as the country looks to modern ways of tapping and producing electricity.
Real estate conglomerate Porto Group has launched a new campaign to sell open units of the company’s real estate projects.
New GSMA Report Sees Rise in Mobile Broadband and Smartphone Adoption across Middle East and North Africa
Mobile broadband networks will account for 61 per cent of mobile connections by 2020, up from 41 per cent today, across the diverse Middle East and North Africa (MENA) region.
Egypt’s telecommunication regulator The National Telecommunications Regulatory Authority (NTRA) has signed a $484 million agreement with Orange Egypt to grant it the 4G license.
Regional e commerce services provider MindPedia has opened its first Mindset Development Centre in Cairo as it seeks to further cement its position in Middle East and North Africa.
Cairo based Banque Du Caire has purchased 7,317 residential units for low and middle-income segments as part of an initiative by the Central Bank of Egypt (CBE) launched between February 2014 and September 2016, according to Mounir El-Zahid, chairperson of the bank.
A $20 billion administrative new capital is in the offing which will include homes and offices and all relevant infrastructure supported by China Fortune Land Development Co. Ltd. (CFLD).
The competition oversight body in Egypt, The Egyptian Competition Authority (ECA) is raising concerns over unhealthy monopolistic practices in the automotive industry which it says has led to a dramatic spike in prices of several models and categories of cars.
Egypt’s Alkan Group has announced it will invest $600 million in the Citadel Plaza real estate project in the next five years as it seeks to grow its portfolio in the booming industry.
Barclays Bank PLC has announced plans of selling its Egyptian subsidiary to Attijariwafa Bank of Morocco in a deal that is to be finalized by end year following regulatory approvals.
With its eyes trained on growing export numbers and providing incentives for exporters, the European Bank of Reconstruction and Development, EBRD, has inked a $50 million deal with Crédit Agricole-Egypt under the trade facilitation programme (TFP).
Agriculture exporting company Sama Grain company is set to open a juice concentrate factory and a line of packaging citrus fruits with its eyes trained on the East Asia and Russia.
Players in the flat glass industry are decrying lack of production inputs, rising costs and foreign currency shortage which they say have made their products expensive and noncompetitive.
Telecom Egypt, the state fixed-line monopoly, said on Monday it was considering buying more spectrum, weeks after acquiring a fourth-generation (4G) licence that will allow it to directly offer mobile phone services for the first time.