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Week commencing 3 April 2017
LafargeHolcim Maroc Afrique is extending its activities to the Cameroon with a $47m investment, through its subsidiary, construction and public works company, Cimencam. The cement producer will construct of a new plant with a capacity of 500,000 tonnes. The facility will enable Cimencam to reach an overall volume of 2-million tons per year.
Morocco World News 28 March
After 10 years of exploration in the Democratic Republic of Congo, Managem has sold a 61.2% stake in Lamikal to Beijing-based Wanbao for $56m. Lamikal is the company operating the Kalukundi mining site.
Morocco World New 30 March
French oil producer Total Outre Mer closed a $400m deal to acquire a controlling stake in East African oil manufacturer Gulf African Petroleum. The acquisition will strengthen Total’s logistics in the region and accelerate growth in its retail network.
The Citizen (Tanzania) 30 March
The non-interest banking unit of Sterling Bank got a $15m facility from the Islamic Corporation for the Development of the Private Sector, a multilateral development financial institution. The fund is to provide liquidity to finance additional public projects.
The Guardian (Nigeria) 29 March
The European Investment Bank has extended a $97m loan to two local banks for financing small and medium-sized enterprises in the region. The European Investment Bank signed an $80m loan with Equity Group Holdings earmarked for three subsidiaries and another with HFC at $21m.
Daily Nation 29 March