Last Friday, Feb.12, a block trade worth DT59.3 million was filed for 2.74 million securities of Société Frigorifique et Brasserie de Tunis (SFBT) , Tunisian leader in terms of beverage trading with 85% of its market. With a unit price of DT21.6 for each share traded, the transaction provided the seller with a plus-value of 1.3 dinar for each share, with reference to the lowest share value of...

Algeria plans to implement 4,500 MW of renewable energies by 2020. This was announced by Salah Khebri, Algeria’s Minister of Energy. This objective in the mid-term falls in line with the nation’s ambition to develop 22,000 MW of renewable energy by 2030, 25% of the overall installed capacity. In this regard, Sonagel, the state-owned company in charge of electricity and gas has already...

For the year 2015, all 13 African subsidiaries of Société Générale generated a Net Banking Revenue (NBR) of €1.1 billion, with 3.7 million customers. From these, the Moroccan subsidiary is the leading contributor with net banking revenue of €364 million, followed by Algeria with €134 million. Cote d’Ivoire is third in Africa in this regard and first in Sub Saharan...

On February 18, an IMF (International monetary Fund) delegation will be visiting Tunis to initiate negotiations with Tunisian authorities concerning a new aid scheme for a minimum funding of $1.7 billion, governor of Tunisia’s Central Bank, Chedly Ayari announced on February 13. These talks should focus on the implementation of a new program for economic reforms in return for international...

Nexans on Monday announced that it has been granted a contract to supply cabling to Samsung Heavy Industries’, turnkey contractor. Nexans said the contract was granted to Samsung Heavy Industries by Total for the latter’s Egina floating, production, storage and offloading (FPSO) unit situated offshore Nigeria. The contract which is worth $3.1billion, is the biggest FPSO contract so...

Atlantic Leaf Properties, the Mauritius-based real-estate Company listed on the Stock Exchange of Mauritius acquired $156.5 million worth of assets in the United Kingdom. “The transaction falls in line with the firm’s main objective to invest in real estate assets of quality and with profitable returns for investors, revenues that grow in the long run, as well as secured capitals,”...

Giant Swedish furniture dealer, Ikea, obtained on Feb.11 the certificate of conformity for the opening of its first store in Zenata (about 50Km from Rabat. The commissioning of the store which was initially planned for September 29, 2015, was halted due to the “lack of certificate of conformity”. However, according to various media, the Moroccan government was just trying to pressure...

Sound Energy on Monday announced that the groundwork for its Tendrara licence area have begun on site and contracts have been awarded for the first well, Energy-pedia reports. The Company stated that civil works on site at Tendrara which includes the upgrading of local infrastructure followed by the preparation of the camp and the two well pad areas have now begun. According to Sound Energy, in...

Tunisia’s horticultural industry is being threatened by the New Delhi virus. Indeed, the disease has affected greenhouse cultivations in the North-Kelibi and El Faouar communities, TAP reported. The president of the Limagues agricultural grouping, Mohamed Rehaimi, revealed that “out of the 395 greenhouses that constitute the grouping, about 50 have been affected”. He affirmed that “the...

“In the coming months, we should switch to liberalization,” said Cote d’Ivoire’s President, Alassane Ouattara. “Government will submit proposals regarding the procedure,” he added. The President said this on February 11, 2016, as he was receiving, as usual, annual report of High Authority of Audiovisual Communication (HACA). Prior to this, President of HACA, Ibrahim Sy Savané,...