Morocco: Latest News
Dana Sanchez, 3:36 pm
A hedge fund with Carlyle Group LP, the world’s second-largest private equity firm, has lost $400 million it invested in 2015 in a Moroccan oil refinery deal, according to a securities filing. Saudi billionaire Mohammed al-Amoudi owns 67.26% of Morocco’s Samir refinery. The deal highlights the risks U.S. investors face in emerging markets that have unfamiliar investor-protection laws. Still, despite the risks, investors continue to find the lure of higher growth in emerging markets attractive.
Ishay Govender-Ypma, 7:17 am
The narrow cobbled streets are alive with the colors, smells, and essential rawness of market life. Vendors hawk breakfast breads, olives and live chickens. But we are late for our cooking class at Clock Café, and cannot linger. Donkeys and mules laden with pails of milk are led slowly through the streets. In the gentle lilt of Moroccan Arabic, the donkey minders shoo us out the way. Men and women in plain djebella are buying their breakfasts. It’s a rhythm of the everyday here in Fez. Food is bought fresh. The customers know the vendors by name.
Peter Pedroncelli, 4:50 am AFKI Original
The third round of African World Cup qualifying continues this coming weekend, as the second set of matches see 20 teams from the continent left with a chance of securing one of the five spots allocated to the African continent. This weekend 10 fixtures will be played around the continent in the group stages. Here are 10 African World Cup qualifying matches to look out for this coming weekend.
Dana Sanchez, 5:52 pm
Ghana hasn’t had a national long-haul carrier since Ghana Airways, one of Africa’s oldest airlines, stopped flying in December 2015. Getting one will remove one of the stumbling blocks that prevented Accra from becoming a West African hub for air travel. There is no strong airline and no airport hub in West and Central Africa. Ghana made up for the absence of a strong carrier by issuing other airlines rights to carry passengers from Accra.
Dana Sanchez, 3:24 pm
With a $500,000 US investment, foreigners can buy Mauritian residency and apply for a passport after five years of property ownership. By early 2016, there were 3,200 U.S. dollar millionaires living in Mauritius — population 1.3million. Most are from France and Southern Africa. Part of the attraction is low or no taxes. “No housing or property tax, no inheritance tax on properties purchased and no capital gains tax speaks directly to property investors,” a stakeholder said.
Dana Sanchez, 12:48 pm AFKI Original
New vehicle sales continue to fall in South Africa. The industry needed a creative idea to invigorate its local auto market, excite domestic motor enthusiasts, and appeal to people across sectors. The solution? A Cape Town Motor Show that promoters promise will rival motor shows in Paris, Tokyo, and New York. The show will go over well, a promoter predicts. “People are hungry. People always want to drive a better car. The mood is very positive.”
Staff, 4:03 pm
The Africa Energy Forum isn’t happening in Africa but 75 percent of Africa’s energy regulators, utilities bosses and ministers will be there, according to event organizers. The 19th annual conference is scheduled for June 7–9, 2017, in Copenhagen, Denmark. Participants travel from Africa to Europe to meet and do business with power investors from around the world. The goal? To capitalize on the wealth of Scandinavian companies investing in Africa’s power sector.
Peter Pedroncelli, 7:10 am AFKI Original
The shortlist of 30 nominees for the 2016 African Player of the Year award has been announced by the Confederation of African Football (CAF) ahead of the winner’s announcement in the new year. Below are the 30 players who have been nominated for the 2016 African Player of the Year award.
Staff, 11:31 am
Mitsubishi UFJ Financial Group Inc. is considering opening offices in Kenya and Morocco to boost its African business as Japanese companies seek natural resource and infrastructure-related opportunities on the continent, a person with knowledge of the matter said. Japan’s largest bank has begun studying the possibility of opening the offices in the countries and no decision has been made, the person said, asking not to be identified because the deliberations are private
Keren Mikva, 6:05 pm AFKI Original
Air pollution in African countries could develop into health and climate crises like China and India have endured. A day spent breathing in Cairo has been likened to smoking a pack of cigarettes. Industrial plants burning low-quality fuel, seasonal sandstorms that often smother the city in a yellow haze, and high vehicle emissions have made the problem worse. Little regulation is in place to enforce environmentally friendly industry processes. Here are 10 of the most polluted African cities.
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