Category: finance

Iconic FIAT Brand Launches in Algeria

        Stellantis announces launch of six FIAT carlines coming to Algerian customers starting March 21: Fiat 500 Hybrid, Fiat 500X, Fiat Tipo, Fiat Doblò, Fiat Scudo and Fiat Ducato Investment contributes to development of the automotive sector in Algeria with a scaled plan covering manufacturing in Tafraoui – Oran of localized FIAT models and development of a robust sales and aftersales commercial network First wave of investments from Stellantis and its suppliers totaling over €200 million to […]

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Huawei and partners to boost digital inclusion in Uganda through DigiTruck project

DigiTruck will provide free digital skills training for more than 10,000 beneficiaries. Ugandan President H.E Yoweri Kaguta Museveni officially launched a new DigiTruck project in Uganda. The project will provide free training in digital skills for more than 10,000 beneficiaries over three years. Launched on March 8 at an event celebrating International Women’s Day (IWD) in Kiruhura District, the DigiTruck project is a part of Huawei’s TECH4ALL initiative, the company’s long-term initiative for driving inclusion and sustainability across the globe. […]

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A New Step for Kenitra Site to Support Growth Plans for Middle East and Africa Region

At the occasion of meetings with the Moroccan Head of Government, the Minister of Industry and Trade, and the Minister Delegate to the Head of Government in charge of Investment, Convergence and Evaluation of Public Policies, Stellantis today announced an over €300 million investment in its Kenitra manufacturing facility aimed at doubling the site’s production capacity and launching the “smart car” platform. This enhanced capacity supports the Company’s growth plans for Middle East and Africa region, as it pushes to […]

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Inflation, Weaker Currencies and Climate Change Top List of Concerns for African Economies, According to New Survey

45% of surveyed CEOs are worried by financial risks,of these, more than 60% are concerned about currency depreciation. The need to adapt to climate change was the second most pressing issue. New survey takes the temperature of business across Africa. Financial risks, including currency depreciation and inflation, is topping the list of challenges facing the 54 African economies in the year ahead. That’s according to a new survey of the continent’s leading insurance professionals, conducted by the pan-African reinsurer, Continental Reinsurance. […]

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African Development Fund extends $3 million in additional financing for Liberia’s Special Agro-Processing Zone scheme

photo: Women selling various grains at a community market in Monrovia, Liberia. The Board of Directors of the African Development Bank Group has approved an additional $3 million of mixed financing for the Special Agro-Industrial Processing Zone project in Liberia. The financing, approved on 12 October 2022, comprises a loan of $2.92 million and an $80,000 grant sourced from the African Development Fund, the Bank Group’s concessional lending arm for the continent’s low-income countries. On 20 October 2021, the African […]

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AAAM/VDA Lead a Study tour to Morocco

Due to many factors including its proximity to Europe, highly skilled human capital, political stability, and free trade agreements with the USA, EU, and other countries, the Kingdom of Morocco has attracted many global automotive players over the last few years. For the year 2021, estimated passenger vehicle production was reported at 403,007 vehicles with some 175, 360 units sold locally whilst 358, 745 were exported. Renault and Stellantis are the main OEMs with CKD manufacturing facilities in the country, […]

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Rethinking the Foundations of Export Diversification in Africa

Soaring food and energy prices are hitting African countries especially hard as they struggle with the impact of the COVID-19 pandemic, climate change and the war in Ukraine. To cope with current crises and insulate itself against future shocks, Africa must diversify its economies. The continent of 1.4 billion people is among the least diversified regions in the world with regard to exports. Download the full report Download the executive summary Commodities account for more than 60% of total merchandise […]

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EU-African trade gets new opportunities

The Ukraine war will also lead to a reorganisation of supply chains in the mechanical and plant engineering sector, strengthening closer economic ties between Europe and Africa. VDMA, Europes’s most important Mechanical Engineering Industry Association has established training centres in Botswana, Nigeria and Kenya, where prospective skilled workers are trained on modern machinery and equipment as part of the initiative “Skilled Workers For Africa”. “After the Ukraine war, many companies from the mechanical and plant engineering sector will try to […]

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