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…

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Automotive digital marketplace Odiggo expands to Dubai

MEA – Odiggo, the Cairo-based automotive digital marketplace, has opened in Dubai, with the goal of becoming the top Autotech business in the Middle East and Africa. The automotive tech app was founded in 2019 by Ahmed Omar and Ahmed Nasser. It sells car parts and accessories directly from various vendors. In the first seven months of service, the startup had 2000 customers onboard. Odiggo claims to have the largest catalog of auto spare parts in the region. The startup makes money by charging 7 to 22 percent commission on…

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DEWA to add 600MW of clean energy capacity in Dubai in the course of the year

UAE – Dubai Electricity and Water Authority (DEWA), has announced the addition of 600 megawatts (MW) of clean energy capacity using photovoltaic solar panels and Concentrated Solar Power (CSP) in 2021. According to the company’s MD & CEO, HE Saeed Mohammed Al Tayer, the addition will increase DEWA’s total power capacity from clean energy to 1,613 MW compared to 1,013 MW currently. Al Tayer said that next July, DEWA will commission the 300MW first stage of the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park. DEWA will…

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Uganda airlines secures landing and departure slots in Dubai, London

UGANDA – Uganda Airlines has secured slots for departures and landing at London Heathrow Airport and Dubai International Airport as it prepares for commencement of long haul flights to the United Kingdom, United Arab Emirates and China. The move comes after the airline received its two Airbus A330-800Neo air crafts in December 2020 and early this year. Roger Wamala, the Uganda Airlines Commercial Director said the two aircrafts, code named Mt Elgon and Mt. Rwenzori,  will however remain grounded because the Uganda Civil Aviation Authority (UCAA) has not yet cleared…

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Delta International FZE acquires majority stake in Nairobi Business Ventures

KENYA – Nairobi Business Ventures (NBV) shareholders have approved a US$761,674 investment by Dubai-based Delta International FZE, a move that will result in Delta International FZE owning an 84 percent stake in NBV, pending all regulatory approvals. The shareholder approval paves the way for NBV to venture into new businesses including trading and the manufacturing of sustainable products. “NBV will greatly benefit from Delta International FZE vast experience in trade, services and manufacturing of sustainable products. We welcome this new partnership that will enable us diversify into these new and…

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Coal miner Edenville International enters into agreement with MarTek Global for sales and marketing

TANZANIA – Edenville Energy Plc, the AIM quoted company operating the Rukwa Coal Project in southwest Tanzania, has announced that the Company’s subsidiary Edenville International Limited (EITL) in Tanzania, has entered into a Sales and Marketing Agreement with MarTek Global FZ-LLC, a Dubai-based sister company to Infrastructure and Logistics Tanzania Limited (ILTL), with both having the same principal shareholder. The Sales and Marketing Agreement follows on from the recently announced Coal Mining Agreement (CMA) with ILTL, which provided for a fixed rate mining and processing contract at Rukwa and which…

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Aleph hospitality managed hotel Ramada by Wyndham re-opens in Addis Ababa

ETHIOPIA – Aleph Hospitality, Dubai-based independent hotel management company, has reopened the Ramada by Wyndham Addis, in Addis Ababa, Ethiopia took over the management of earlier this year and partially closed it due to the Coronavirus outbreak. The hotel has  re-opened with a complete set of measures to protect the safety and wellbeing of its guests featuring best in class health and hygiene protocols in line with the guidelines and regulations of the World Health Organization and local health authorities. “We’re honoured to have been awarded the management contract for…

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Dubai firm buys Meikles Hotel operations for US$20 million

ZIMBABWE – Dubai-based Albwardy Investments is set take full control of Meikles Hotel operations after buying the iconic facility for US$20 million. The deal, which has been on the radar for years, was effectively concluded after more than 70% of shareholders of Meikles Limited backed the resolution relating to the sale of the hotel to Albwardy Investments, at an extra-ordinary general meeting held in December 2019 in Harare. The deal has also been ratified by the Competition and Tariff Commission as well as exchange control authorities in Zimbabwe. “The directors…

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Merck to establish its Sustainability Centre at Dubai’s District 2020

UNITED ARAB EMIRATES– Merck KGaA, a leading science and technology company based in germany, has in October this year, announced the establishment of its Sustainability Centre in District 2020, Dubai. Merk revealed that the center will be launched during Expo 2020 Dubai and will have  a special focus on countries of the Global South. The centre comprises diverse programs that address and accelerate solutions for sustainability challenges through the application of advanced science and technology. The idea of a Sustainability Centre right in the heart of Dubai was born from…

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Dubai based telecoms firm opens regional office in Senegal

SENEGAL – Workz Group, a Dubai based mobile and Internet of Things (IoT) solutions provider, has opened a regional office in Dakar, Senegal, Senegal to serve the West African telecoms market. The office seeks to increase the company’s market share in West Africa on the back of growing interest from mobile network operators in the region. The move also strengthens Workz’ African presence becoming the company’s second location in the region after its Johannesburg opening last June. As the world’s leading telecom recharge card manufacturer, according to the Nilson report,…

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