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
-
BGFIBank Cameroon Increases Capital to CFA50Bln Ahead of Stricter Banking Rules
20:58
-
Cameroon secures Gold Medal at Cacao of Excellence Awards, topping Africa & Indian Ocean category
20:52
-
DRC seeks ITC support to advance battery mineral value chains
20:49
-
“We See a Structural Copper Shortage Emerging,” Olivier Binyingo, Chairman of Kamoa Copper
20:19
-
DRC Suspends Livestock Imports from South Africa Amid Foot-and-Mouth Outbreak
18:26
-
Cameroon Signals Possible Return to Bvmac with Up to CFA150 Billion Bond
18:15
-
Public Enterprises Hold CFA1.5 Trillion in Assets, CFA493.9 Billion in External Debt at End-2024
18:08
-
Cameroon Faces CFA65.7 Billion in Repayments, Turns to Market for Relief
18:04
-
In Africa, a Market for Medical Robotics Is Expanding. Adoption Is the Hard Part
16:16
-
Togo ranks second in Africa in World Bank gender law index
15:15
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...
Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...
Naira strengthens to 1,348 per dollar, boosting assets Lagos market gains 25,000 billion naira in...
Cameroon wins gold at 2026 Cacao of Excellence Awards Top sample selected from 191 entries worldwide Award boosts position in premium “fine flavour”...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private investment Progress slowed amid coordination,...
In 2025, the development of the Kamoa-Kakula copper complex, the largest in the Democratic Republic of the Congo (DRC), was marked by two major events: a...
DR Congo bans South African livestock imports over FMD Measure suspends permits for animals and animal products South Africa ramps up vaccination,...
More than 500 media leaders gathered in Nairobi on Feb. 25–26 for the fourth African Media Festival under the theme “Resilient Stories: Reinventing...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...