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Business News North Africa February 2025

Business

EGYPT – Germany’s BSH Hausgeräte builds a kitchen stove factory in Egypt

German home appliances manufacturer BSH Hausgeräte has launched the construction of its first African factory in the 10th of Ramadan City, northern Egypt. The plant will manufacture kitchen stoves. The project has a budget of EUR 55.0 mn. Half of the factory’s production will serve local demand, while the other half will be exported to Middle Eastern and African markets.

Jan. 8, 2025

 

EGYPT – Chinese car manufacturer Geely inaugurates an assembly plant in Egypt

Chinese car manufacturer Geely has inaugurated an assembly plant in the 6th of October City, northern Egypt. The factory has two assembly lines with a total production capacity of 10,000 vehicles per year. Around 45% of vehicle components will be locally manufactured. The project required a global investment of USD 100 mn.

Jan. 15, 2025

 

EGYPT – New Egyptian-Italian joint venture to maintain Egypt’s railway network

Italian railway operator Salcef and the Egyptian National Railways Authority have launched a joint company, Salcef Track, specializing in railway maintenance and development. The company is expected to renew and maintain Egypt’s railway network over a 25-year period, as well as implement railway projects in Africa and the Middle East.

Jan. 15, 2025

 

MOROCCO – Emirati mining company Purple Hedge DWC to exploit a copper mine in Morocco

Purple Hedge Resources Morocco, a subsidiary of Emirati mining company Purple Hedge DWC, has purchased the exploitation rights of the Oumejrane mine, in southeastern Morocco, from local company Managem. The value of the deal is estimated at more than USD 30.0 mn. Oumejrane is one of the oldest mining sites in Morocco. It mainly contains copper, along with other minerals.

Jan. 8, 2025

 

MOROCCO – German wiring harness manufacturer Leoni opens a new factory in Morocco

German automotive wiring harness manufacturer Leoni has inaugurated a new factory in Agadir, southern Morocco. The project required an investment of MAD 230 mn (EUR 22.1 mn) and spans over an area of 7.6 hectares. The factory is set to generate more than 3,000 new jobs by 2027.

Jan. 20, 2025

 

TUNISIA – Germany’s Kromberg & Schubert to expand its wiring harness factory in Tunisia

German wiring harness manufacturer Kromberg & Schubert has launched a project to expand its factory in Beja, northwestern Tunisia. The expansion, which will add eight hectares to the total area of the production unit, is expected to generate 4,000 new jobs by the end of 2025.

Jan. 12, 2025

 

TUNISIA – Tunisia launches a digital platform for bank check validity verification

Tunisian banks have put in place a digital platform, Tunicheque.tn, that allows recipients of bank checks to instantly verify their validity. The initiative aims to reduce the number of bounced checks and facilitate transactions through this method.

Feb. 2, 2025

 

ALGERIA – Turkey’s Ziraat Bank opens its first branch in Algeria

Turkish bank Ziraat Bank has opened its first branch in the Algerian capital, Algiers. The financial institution aims to expand its presence in Africa. The new branch is Ziraat Bank’s only second branch on the African continent after an Egyptian branch opened in July 2024.

Jan. 22, 2025

 

ALGERIA – Jordanian company MS Pharma launches a new laboratory in Algeria

Jordanian pharmaceutical company MS Pharma has inaugurated a new laboratory in Rahmania, northern Algeria, to produce anti-cancer drugs. The project required an investment of USD 7.0 mn and it has a production capacity of five million units per year. It is set to generate 30 direct jobs. The production unit will be operated by MS Pharma’s local subsidiary in Algeria, El Kendi.

Jan. 27, 2025

Politics

EGYPT – Egypt and Switzerland establish a Joint Economic Committee

Egypt and Switzerland have signed an agreement to establish a Joint Economic Committee, aimed at strengthening bilateral trade, attracting investments, and identifying new market opportunities. The committee will also review existing bilateral agreements and suggest improvements. The agreement was signed on the sidelines of the World Economic Forum in Davos.

Jan. 22, 2025

 

EGYPT – Egypt and Kenya elevate their relations to a strategic partnership

Egypt and Kenya have signed a strategic partnership agreement to elevate their bilateral relations. The agreement was signed during an official visit of Kenyan President William Ruto to Cairo. The two countries also signed 12 cooperation agreements in the fields of political consultations, diplomatic training, investment facilitation, seaports, youth, space, information and communication technologies, higher education, gender equality, women empowerment, housing, and urban development.

Jan. 30, 2025

 

MOROCCO – Morocco and Mauritania agree to link their electricity networks

Morocco and Mauritania have signed an electricity interconnection agreement to link their respective electricity networks. The agreement also includes clauses to launch joint projects for generalizing access to electricity in rural areas.

Jan. 23, 2025

 

TUNISIA – Tunisia renews the state of emergency until the end of 2025

Algerian President Kais Saied has once again extended the country’s state of emergency until the end of 2025. The state of emergency has been routinely renewed since 2015. It was put in place after a terrorist attack on a bus of the Presidential Guard. The state of emergency allows the Tunisian government to take exceptional security measures without the need to undergo a vote by the parliament.

Jan. 29, 2025

 

ALGERIA – Algeria to hold elections for Nation’s Council members on March 9

Algerian President Abdelmadjid Tebboune has announced elections to renew one-third of the members of the Nation’s Council, the Algerian parliament’s upper chamber, will take place on March 9. The Nation’s Council has 174 seats: one-third are designated by the president, while the remaining two-thirds are elected on two separate dates by local councils.

Jan. 22, 2025

Economy

EGYPT – Egypt records a 24.1% annual inflation rate in December 2024

Egypt’s annual inflation rate has maintained its downward trend, decreasing from 25.5% in November 2024 to 24.1% in December. The figure is mainly attributed to a 31.3% annual increase in the prices of “regulated items,” as well as an 11.8% increase for fruits and vegetables.

Jan. 12, 2025

 

MOROCCO – Morocco’s annual inflation rate stands at 0.9% in December 2024

Morocco’s annual inflation rate stood at 0.9% in December 2024, up from 0.8% in November. The figure is attributed to a 0.8% increase in the prices of food products and a 1.2% increase for non-food products. For the latter category, price variations range between -1.3% for health services and +3.4% for restaurants and hotels.

Jan. 22, 2025

 

TUNISIA – Annual inflation rate in Tunisia decreases to 6.2% in December 2024

The annual inflation rate in Tunisia decreased to 6.2% in December 2024, down from 6.6% in November. Food products are the most affected by inflation (7.2%), notably sheep meat (21.3%), poultry (19.7%), dried fruits (14.8%), vegetables (14.2%), and fresh fish (12.8%). Meanwhile, the prices of manufactured goods increased by 6.1% over the year and those of services by 5.4%.

Jan. 6, 2025

 

ALGERIA – Algeria records a 4.4% annual inflation rate in December 2024

Algeria’s annual inflation rate has increased from 4.2% in November 2024 to 4.4% in December. Price variations range from +0.7% for education, culture, and entertainment, up to 5.5% for household equipment.

Jan. 29, 2025

 

Key Economic Indicators

NA February 2025