Qatari company Ghanem Lehdeiffi will spend $16 million to build a huge residential tourism complex in Nouakchott, Mauritania’s capital, Mauritanian website ami.mr revealed. The complex which will cover 25 hectares will comprise 2 hotels with 386 posh residences, malls and game rooms. This complex will positively impact hospitality and tourism in Mauritania, said El Khalil Ould Mohamed...

Japanese firm Koyo Corporation which operates in the renewable energy sector plans to establish in Dar es Salaam, Tanzania’s capital, an assembly unit for power equipment. The subsidiary company which will be named Koyo Bussan Tanzania Limited will, according to its developers, boost access to photovoltaic solar energy in the country. “Koyo brings state of the art technology in renewable...

Japanese banking group Mitsubishi UFJ Financial Group plans to open new offices in Morocco and Kenya to better support the investments of Japanese companies in Africa, Bloomberg revealed earlier today, October 20, citing a person with knowledge of the matter. Though the source which asked not to be identified said Japan’s largest has begun studying the option to open offices in the two...

Guinea opens a new container terminal on October 19 at the Kamsar port to export bauxite output from the mine owned by Emirates Global Aluminum (EGA) through its local subsidiary, Guinea Aluminum Corporation. The terminal will also be used by other parties as an alternative to the Conakry container terminal. EGA’s bauxite project is born of a $5 billion contract between Emirati Mubadala,...

In Kenya, over1.3 million people are facing food insecurity as a result of drought which causes pasture and water shortage which in some cases lead to deaths of livestock. “If the imminent short rains season is also below average, as the forecast suggests, then not only will these areas deteriorate to the alarm or even emergency phase, but drought stress will deepen in many other arid and...

French automobile group PSA Peugeot-Citroën is about to launch a car adapted to Africa’s roads and weather conditions, La Tribune Afrique reported on October 17. Conceived based on a 406 improved model, the new car will serve drivers from Africa where asphalt roads are often only in main metropolises and few strategic axes, said the site which cited no sources. The Africa-adapted Peugoet...

Botswana-based multinational ecotourism company Wilderness Safaris has successfully raised Sh3.5 billion ($35 million) bilateral loan to buy an ecotourism firm in Kenya, news website Businessdailyafrica reported on October 19, 2016. “In addition to reinvestment into flagship properties in Botswana and Namibia, the proceeds of this loan will be used for expansion across African markets such as...

In a move seen as the continuation of the divestment strategy by international oil companies (IOCs) operating in Nigeria, local downstream company, NIPCO Plc, has announced the acquisition of a 60% interest in Mobil Oil Nigeria Plc from ExxonMobil. According to the Managing Director of NIPCO, Venkataraman Venkatapathy, the acquisition was agreed with the implementation of a sales and purchase...

In Ivory Coast, the Government has revealed plans to organize debt relief for state oil refinery, Societe Ivoirienne de Rafinage (SIR), through public and private funds. SIR is the biggest refinery in the West Africa Country and has amassed debts worth hundreds of millions of dollars since 2008. According to the government spokesman, Bruno Nabagne Kone, the government is in talks with private...

Subsea 7, has been awarded an engineering, procurement, construction and installation contract worth between $150 million and $300 million, offshore Egypt, by Pharaonic Petroleum Company. According to the subsea Engineering, Construction and Services Company, the contract which will be executed at water depths of over 900 meters in the Atoll field includes the installation of over 40...