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Week commencing 5 June 2017
Phosphate group OCP will establish a fertilizer mixing and storage unit at the port of Abidjan. It plans to create a sub-regional hub from Côte d’Ivoire, both in terms of storage and logistics. OCP has already invested $4.2bn in four projects on the continent. The firm plans to build 15 more factories in countries including Senegal, Benin, Nigeria and Ghana.
Morocco World News 30 May
International private equity firm Carlyle Group will spend between $30m and $100m on two unspecified commodity deals in Egypt, after a commodity rout depressed prices in the region. Egypt has abandoned its currency peg and increased fuel prices to secure international investments which include a $12bn International Monetary Fund loan programme.
Zambia Business Times 1 June
Euronet aims to inject $22m worth of new ATMs into the Egyptian market by the end of 2018. The company is negotiating with a major bank, whose name it will not disclose until the agreement is complete, to operate the ATMs and the issuing of cards.
Daily News Egypt 2 June
China Eximbank has agreed to fund Kenya’s mapping of geological resources, if ongoing talks succeed. If China agrees to the request, a Chinese company will be contracted to do the exercise. Kenya presented a request for funding for $68m to carry out the exercise.
Standard Digital 29 May
Hayat Kimya, a fast-moving consumer goods company, opened its diaper and tissue factory at the Agbara Industrial Layout. Hayat Kimya has 14 production sites globally. Nigeria is its first investment in sub-Saharan Africa. The manufacturing plant in will create 30,000 jobs.
The Guardian Nigeria 30 May