ECOWAS to implement automotive industry policy to reduce vehicle import

ECOWAS to implement automotive industry policy to reduce vehicle import

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GHANA – Economic Community of West Africa States (ECOWAS) is considering implementation of automotive industry policy to reduce importation of vehicles into the region. According to GNA report, the validation of ECOWAS Automotive Industry Policy Framework would enable member states countries to…

Coast2Coast further offloads 11.5% stake in Ascendis Health

Coast2Coast further offloads 11.5% stake in Ascendis Health

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SOUTH AFRICA – Ascendis Health’s private-equity backer, Coast2Coast, has sold an additional 11.5% stake in the healthcare company effectively reducing its stake in Ascendis to just 14%. Coast2Coast through its subsidiary Gane Holdings, owned 25.5% of Ascendis in December 2018, and a…

World Bank’s arm offers US$4.8m financing to boost Kenya businesses

World Bank’s arm offers US$4.8m financing to boost Kenya businesses

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KENYA – The International Finance Corporation (IFC), the financial institution of the World Bank has offered to invest US$4.8 million (Sh490 million) in technical advisory services to the Kenyan government to boost businesses. The deal is expected to help in promoting business…

Mars Wrigley’s opens US$70m manufacturing plant in Kenya

Mars Wrigley’s opens US$70m manufacturing plant in Kenya

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KENYA – Mars Wrigley Confectionary, Unites States based confectionary maker, has inaugurated a new US$70 million (Sh7bn) plant in Athi River, Kenya as it seeks to diversify its local confectionery product portfolio. Speaking during the inauguration ceremony, Duncan McCulloch, Mars Wrigley Confectionary…

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,…