Investments & Projects

The initiative which falls under the Britain government’s Job and Economic Transformation Programme seeks to identify investors to aid in retooling the textile factory and produce to meet market demands.

The African Development Bank Group concluded five days of annual meetings in Accra, Ghana on Friday with the current President Dr. Akinwumi Adesina pushing for a more independent Africa.

Petroleum and Mineral Resources Minister Tarek Al Molla said on Monday that eight mega oil refining projects at investments worth EGP 87 billion led to reducing imports by 30 percent. These projects produce 6.6 million tons of products per year.

Minister of Industry and Trade Ryad Mezzour was in Fez yesterday with local industrial operators to sign 10 investment agreements for the region of Fez-Meknes, amounting to MAD 160 million ($15.8 million) and generating nearly 520 direct jobs.

Challenges include security issues in some parts of the country and foreign currency shortage, suspension from AGOA, COVID-19 pandemic, and the Russia-Ukraine conflict were indicated to have affected the investment performance.

Canal Sugar Company announced Tuesday the start of the official operations of the largest sugar production plant in the world, with investments amounting to about $400 million.

The open-pit and underground mining operation in southwestern Ghana produced 154,668 gold-equivalent ounces in 2021, compared to 166,590 in 2020 and is located immediately south of Asante Gold’s Bibiani gold mine. The government of Ghana holds a 10% interest.

The Fraser Institute’s 2021 annual survey of mining companies ranked 84 mining investment destinations around the world, in a study published last week.

Morocco has spent MAD 307 million ($ 31.3 million) on a special program aimed at supporting transport professionals across the country.