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Week commencing 2 October 2017
Fiat subsidiary Magneti Marelli has signed an agreement totalling $46.76m with Morocco for the establishment of an automotive production plant in Tangier. Production will begin in 2019 and the plant will create about 500 jobs by 2025.
Morocco World News 26 September
The Sekyere East District Assembly has secured a partnership agreement with N-D Eco Ltd to set up a multipurpose factory to produce dairy, beef, leather and related products, under the government’s flagship “one district, one factory” initiative. The project is expected to be complete within eight months and create more than 1,000 jobs locally.
Peace FM Online 25 September
Amethis’ healthcare platform Novamed has acquired Polyclinique Internationale de Ouagadougou (PCIO), one of the largest private hospitals in Burkina Faso. The acquisition is part Novamed’s expansion strategy into west and central Africa. The acquisition will allow PCIO to reinforce its technical facilities in order to improve cardiological expertise and attract the best doctors while growing its number of patients.
Africa Global Funds 28 September
French mass retailer Casino group intends to build between 10 and 15 stores which will create an estimated 1,000 directs jobs across Cameroon. Casino also intends investing in the agricultural sector in the western, coastal and north-western regions.
Business in Cameroon 29 September
French engineering firm Vallourec has signed a contract with Shell subsidiary, Badr El Din Petroleum Company, to supply tubular solutions for up to 70 gas wells in the western desert of Egypt. The value of the contact has not been disclosed.
Daily News Egypt 26 September
AfricInvest has invested $55m for a 14.3% stake in financial services firm Britam Holdings. The transaction, subject to regulatory and shareholder approval, values Britam at $0,15/ share.
The Star Kenya 27 September