Morocco: Varroc Engineering secures additional $16.2mln EBRD loan
Tuesday, 25 February 2020 15:08
Varroc Lighting Systems Morocco, local arm of Indian automotive lighting system manufacturer Varroc Engineering, will benefit from a new credit line of €15 million ($16.2 million) from the European Bank for Reconstruction and Development. This is the second loan granted by EBRD to the company after the €16 million provided in 2018.
The new financing will allow Varroc to boost supply of projectors and rear lights to the Renault factory in Tangier and the Peugeot PSA plant in Kenitra, as well as other foreign car manufacturers. Part of the resources will help create engineering centers and laboratories dedicated to training.
Founded in 1990, Varroc Engineering has offices in 17 countries and 41 first-class production centers. The company is a major player in the world’s automotive lighting system industry.
Chamberline Moko
Live News
-
Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
12:03
-
Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
11:52
-
Kenya’s Economy Expands 4.9% in Q3 on Construction, Services
10:18
-
Rio Tinto, Glencore Hold Early Talks on Potential Mining Mega-Deal
10:17
-
Orabank to Close Four Branches in Togo From February 2026
20:13
-
Cameroon Brings Informal Property Brokers Under VAT Rules
16:05
-
Novarea Textile, Togo Apparels Source Join Adétikopé Industrial Platform
16:01
-
Strengthening the Economic Bridge: Outgoing U.S. Ambassador Shares Vision for Future Cameroon-U.S. Investment
12:30
-
Strengthening the Cotton Value Chain: Crédit du Sahel Formalize Strategic Banking Alliance
11:50
-
Cameroon Scores Mid-Table in World Bank’s Business Ready 2025 Report
11:46
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
Heirs Energies acquires M&P’s 20% Seplat stake for $496M, exiting french group Maurel & Pro...
Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other sectors face sharp contraction in 2025. Power, gas,...
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational investments—especially reliable electricity, digital...
Kenya’s economy grew 4.9% year on year in Q3 2025, up from 4.2% a year earlier. Construction, mining, hospitality and real estate drove growth...
Rio Tinto and Glencore confirmed early-stage discussions on a potential transaction with no firm offer. Rio Tinto must declare its intention to bid, or...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...