BCI Holding secures US$30m from IFC to further expand its production

AFRICA – BCI Holding SA is set to receive a US$30 million financing package from IFC to further expand its production in Algeria, Egypt, and Nigeria, creating hundreds of direct and indirect jobs. BCI a regional manufacturer and distributor of polyurethane (PU) raw materials, systems and specialities with headquarters in the UAE. IFC’s will support the company’s expansion of its existing production facility in Egypt and the commissioning of new factories in Algeria and Nigeria. The financing will help BCI develop regional supply chains for polyurethane, a versatile product used…

Read More

Sheraton Hotels unveils new vision at Sheraton Djibouti

DJIBOUTI – Sheraton Hotels & Resorts, part of Marriott Bonvoy’s portfolio of 30 extraordinary brands, has unveiled newly transformed spaces at Sheraton Djibouti. The 185-room hotel is the first Sheraton in Africa to bring to life the brand’s new vision of its guest experience and showcases signature elements from the new concept following a multi-million-dollar investment by Constellation Hospitality Group.  The reimagined spaces aim to create an environment where guests can feel comfortable and at ease, whether working, meeting, or relaxing. Drawing on its roots as a community hub for locals and guests at flagship…

Read More

Aviation companies Pilatus, Sabca to construct aerostructure assembly line in Morocco

MOROCCO – Swiss aircraft manufacturer Pilatus and Belgian aerospace company Sabca have sealed a deal for the assembly of PC-12 aerostructures in Morocco. Sabca will invest more than 17 million euros (US$20.09m) in the construction of a new 16,000-m² facility that will house the PC-12 aerostructure assembly line in the Nouaceur industrial zone, in Casablanca. The first fuselage and wing structure assembled at the new Sabca facility in Casablanca will be ready for delivery to the final assembly line in Stans, Switzerland, by the end of 2022. The Casablanca facility…

Read More

Kempinski Hotels appoints three Area General Managers for MEA region

AFRICA – After restructuring its Middle East & Africa region, Kempinski Hotels has appointed three seasoned hoteliers as Area General Managers to oversee a number of the group‘s luxurious hotels at the same time as keeping the responsibility for their own hotels as general managers. Sébastien Mariette, the new Area General Manager Levant started his journey with Kempinski in 2007 and occupied several leadership roles within various parts of the world including Cluster General Manager at the Kempinski Hotel Ishtar Dead Sea and Kempinski Hotel Aqaba in Jordan, Managing Director at The Capitol Kempinski Hotel Singapore as…

Read More

Sherlock Grids SAS, GRTE secure funding from USTDA to expand and improve clean energy access

BENIN – The U.S. Trade and Development Agency (USTDA) has announced a grant funding for technical assistance to help Beninese company Sherlock Grids SAS expand and improve clean energy access to rural communities across the country. Enoh T. Ebong, USTDA’s Acting Director said that the project embodies USTDA’s commitment to deploy innovative solutions that connect more of Africa’s citizens to clean, reliable power. “By leveraging U.S. technologies, USTDA’s engagement will help mitigate the climate crisis while supporting Benin’s goal of universal electrification through solar power,” he added. Sherlock Grids will…

Read More

Africell exits Ugandan market after 7 years

UGANDA – Telecoms company Africell is to exit the Ugandan market, ceasing operations by 7 October 2021 due to what it terms as “long-term commercial outlook.” In a press release, Africell said it had worked closely with the government and Uganda Communications Commission (UCC) on confirming its decision. The details of this were not disclosed, however, GSMA has been notified of the termination of roaming partner agreements. Africell Uganda’s statement read:  “Africell’s decision to leave Uganda is based on a careful assessment of the long-term commercial outlook for the business…

Read More

VFEX signs MoU with Dubai Exchange

ZIMBABWE – The Victoria Falls Stock Exchange (VFEX), a subsidiary of Zimbabwe Stock Exchange (ZSE), has signed a Memorandum of Understanding (MoU) with the Dubai Gold and Commodities Exchange (DGCX), the region’s leading derivatives exchange, to strengthen bilateral co-operation as well as exchange knowledge around commodities trading. As part of the agreement, the DGCX will extend technical support, knowledge and skills to VFEX with the ultimate aim of establishing an international commodities exchange in Zimbabwe, according to a ZSE statement. Additionally, VFEX will seek support from the DGCX in framing…

Read More

CrossBoundary Energy to install GCO’s hybrid solar power plant in Senegal

SENEGAL – Solar energy provider CrossBoundary Energy has signed an agreement with Grande Côte Operations (GCO) to install a 13 MW hybrid solar power plant with storage for the company’s operations in Diogo, north-western Senegal. GCO, a subsidiary of the French mining and metallurgical group Eramet, mines mineral sands in this locality, which is located more than 100 km from the Senegalese capital Dakar. This activity requires a significant amount of energy. GCO now wants to produce this energy from renewable sources, in particular photovoltaic solar energy, hence the partnership…

Read More

MTN in mobile money pact with Flutterwave

AFRICA – Africa’s biggest mobile operator MTN, has entered a mobile money partnership with one of the continent’s leading fintech, Flutterwave. The partnership will allow businesses integrating Flutterwave in Cameroon, Côte d’Ivoire, Rwanda, Uganda and Zambia to receive payments via MTN Mobile Money (MoMo). MTN MoMo is a fintech platform providing consumers and businesses with an electronic wallet, enabling electronic transfers and payments as well as access to digital and financial services. According to the telco, at the end of June 2021, MTN MoMo had 48.9 million active users and 581,514 merchants.…

Read More

P&O Maritime Logistics, IOMS launch last-mile delivery services in Nigeria

NIGERIA – P&O Maritime Logistics and Nigerian firm IO Materials Services (IOMS) have announced the launch of the new, FlexDELIVERY, model to provide integrated last-mile delivery services to the offshore energy industry in Nigeria FlexDELIVERY disrupts the traditional model of high shore base startup costs, rentals and vessel time-chartered contracts by focusing on the service that is required by the energy industry – cargo delivery. It has marked new grounds with a freight rate model targeted at the offshore energy industry which traditionally worked on an asset and facility model.…

Read More