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Week commencing 25 March
Shell’s Nigerian unit Royal Dutch Shell has signed a $200m deal with the United Bank of Africa to aid its local vendors and suppliers access project finance. Shell is Nigeria’s largest oil producer pumping an average of 631,000 barrels a day in 2017.
Bloomberg 24 March
International telecommunications and media company Millicom has signed an agreement for the sale of its subsidiary Tigo Chad to Maroc Telecom for an undisclosed amount. The sale of Tigo Chad is in line with Millicom’s stated objective of increasing its focus on Latin America.
Liquid Africa 15 March
Egyptian state-owned car manufacturer El Nasr Automotive Manufacturing and Japan’s Nissan have reached an initial agreement to produce 100,000 cars a year in Egypt. The agreement is part of efforts to boost the proportion of locally made auto components in cars assembled in Egypt with a view to export the majority of the vehicles.
Egypt Business Directory 20 March
South African logistics company Transnet is in talks with Kenya to operate a seaport in Lamu that Kenya is developing to partly use for oil exports. Transnet is pitching to provide the equipment for three of the 32 docks planned at Lamu port and to operate the facility.
Bloomberg 25 March
Kenyan Airways has entered into a code share partnership with Italian airline Alitalia to offer more travel options at their hubs in Nairobi and Rome. The move is aimed at enhancing connectivity between Africa and Rome.
Daily Nation 19 March
South African-listed retailer Shoprite has launched its second store at Garden City Mall in Nairobi. Shoprite has employed 120 workers for the store and has plans to roll out two more outlets by the end of the year. The future branches are planned for Karen Waterfront Mall in Nairobi and Nyali City in Mombasa
Business Daily 21 March