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Week commencing 19 November
US multinational conglomerate General Electric is handing over a Nigerian railway concession to South African state-owned rail company Transnet in line with its strategy to exit the transportation business. Agreements with the Nigerian government are being negotiated by Transnet and its consortium partners.
Bloomberg 14 November
Vodacom Tanzania shareholders have approved the sale of a 26% stake owned by Mirambo Holdings to South Africa’s Vodacom Group. Vodacom is Tanzania’s leading telecoms company and controls 32% of the country’s 40-million mobile subscribers.
Reuters 15 November
Thai petrochemicals producer Indorama Ventures has completed the acquisition of 74% of the share capital of Egyptian recyclable PET preforms firm, Medco Plast for Packing and Packaging Systems, for $47m. The acquisition will provide Indorama Ventures exposure to the East African PET packaging market. PET is a chemical used in the manufacturing of plastic.
Forbes Middle East 14 November
Philip Morris International will open a flagship store in Johannesburg as it tries to stoke demand in Africa for its alternative cigarette known as iQOS, which heats rather than burns tobacco to give users their nicotine kick. The Marlboro maker plans to use the shop as a springboard to expand in the rest of the continent.
Bloomberg 15 November
National airlines Royal Air Maroc and Spain’s Iberia Airlines have signed a code-sharing agreement for the Casablanca-Madrid flight. The agreement allows both companies to increase their flight schedule between the two cities.
Morocco World News 14 November