Marriott International to open 19 properties in Middle East and Africa in expansion plan

Marriott International to open 19 properties in Middle East and Africa in expansion plan

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AFRICA – Marriott International, an American multinational diversified hospitality company, has unveiled plans of growing its Africa and Middle East portfolio by adding 19 new properties and more than 3,000 rooms as part of its overall growth strategy. The company said that…

Global ecommerce sales grow 13% to reach US$29 trillion

Global ecommerce sales grow 13% to reach US$29 trillion

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GLOBAL – Global ecommerce sales increased by 13% to reach approximately US$29 trillion in the year 2017, according to latest figures from United Nations Conference on trade and development (UNCTAD). The number of online shoppers increased by 12% to 1.3 billion people,…

AfDB approves US$14.05m investment in Adiwale Fund 1 targeting Francophone West Africa

AfDB approves US$14.05m investment in Adiwale Fund 1 targeting Francophone West Africa

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WEST AFRICA – The Board of the African Development Bank (AfDB) has approved a €12.5 million equity investment in Adiwale Fund 1 targeting high growth potential Small and Medium Sized Enterprises (SMEs) in French speaking West African countries. With a target fund size…

Competition authority approves Cemtech’s acquisition by Simba Cement Limited

Competition authority approves Cemtech’s acquisition by Simba Cement Limited

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KENYA – The Competition Authority of Kenya (CAK) has approved the acquisition of Cemtech Limited a Kenyan cement business by Simba Cement Limited in a move that is set revamp the factories operations after several failed attempts to start operations. The regulator…

Kensington Distillers & Vintners acquires Nigeria’s 1960 Rootz from AB InBev

Kensington Distillers & Vintners acquires Nigeria’s 1960 Rootz from AB InBev

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NIGERIA – Kensington Distillers and Vintners Limited (KDV), London-based beverage producer, has acquired the 1960 Rootz brand in form Monument Distillers Nigeria Limited owned by AB InBev. The acquisition includes the state-of-the-art manufacturing plant used to produce 1960 Rootz, which according to…