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Week commencing 13 Novemeber 2017
Private equity firm Kibo Capital Partners has acquired an undisclosed stake in fast-moving consumer goods distribution firm Tropigalia SA. The financial details of the transaction have not been disclosed. The capital will fund the company’s goal to expand its product offering by capturing additional distribution agreements with leading global brands, and launching new product lines under its Gourmet brand.
Lear Corporation, the US-based supplier of automotive seating systems and electrical distribution, has announced the opening of its fifth factory in Tangier, which will employ more than 500 workers. The industrial group has signed an agreement to acquire Spanish automotive interior manufacturer, Grupo Antolin’s automotive seating business. The transaction will boost Lear’s position as a global supplier of automotive seating.
Morocco World New 5 November
African Export-Import Bank has disbursed over $16bn for the execution various projects, including the construction of a Medical Centre of Excellence in collaboration with the King’s College Hospital in London and the federal government. The medical centre is expected to stem the outflow of Nigerians seeking better foreign medical treatment. The bank is also in talks with the government about the establishment of two industrial parks and export promotion zones with a view to create opportunities for small and medium enterprises.
The Vanguard 9 November
Nigerian and Switzerland-based investment firm BlackPace Africa Group has bought Ndiyo Business Group, a major producer of salted chips. The takeover is a strategic entry for the group, presenting the company with an opportunity to leverage Ndiyo’s network to enhance Rwanda’s potato value chain. In August, BlackPace signed a $120m partnership deal with the government to invest in development and improvement of the local potato value chain under its Cros Agro Allied Rwanda subsidiary. Under the project, the firm aims to increase the production of potatoes to 10-million tonnes in the next five years.
The New Times 8 November
With the launch of its Radisson Blu in Doula, the Carlson Rezidor Hotel Group has entered its 30th African country, bringing its portfolio to 83 hotels and over 17,500 rooms in operation or under development on the continent. The hotel is scheduled to open in 2019.
Bizcommunity 10 November