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LATEST INVESTMENTS


AUTOMOTIVEOEM FORD’SSOUTHAFRICAEXPANSION Ford South Africa, a manufacturer of cars and trucks and a subsidiary of US-based Ford, is to invest $686m to expand facilities and increase production capacity at its Silverton assembly plant in Pretoria, South Africa. The plant will manufacture Ford Ranger pickup trucks, as well as Volkswagen pickups trucks as part of the Ford-VW strategic alliance. It forms a part of the company’s plans to invest $1.05bn in its South African manufacturing operations.


COMMUNICATIONS AFR-IXOPENSNEWOFFICES AFR-IX Telecom, a telecommunica- tions operator and a subsidiary of Spain-based Zunder Systems, is plan- ning to establish a new subsidiary office in both Kenya and Zambia. The two offices are scheduled to open in 2021.


FINANCIALSERVICES EQUITYBEEBRINGSJOBSTOISRAEL US-based EquityBee, a stock option marketplace, will expand its office in Tel Aviv, Israel. It is part of the firm’s plan to create 30 new jobs between its two offices in Israel and the US and follows the news the firm has raised $20m in a Series B funding round.


FOODANDBEVERAGES LAKE’S$8MFORZAMBIA Lake Petroleum (Zambia), a distribu- tor of petroleumproducts and a subsidiary of Tanzania-based Lake


Group, will invest $8m to establish a sugar plantation in the Matanda area of Luapula, Zambia. It will cover 40,000,000 sq m.


PHARMACEUTICALS ISRACANNOPENSNEWFARM Canada-based Isracann Biosciences, a cannabis producer and distribu- tor, has established a farmin the Hefer Valley region of Israel. Phase one of the project, which covers 5015 sq m, is complete and commercial production will commence in 2021. It will serve the European market.


REALESTATE CTPBUILDSINCAIRO Czech Republic-based CTP Invest, a real estate development company, will invest $600m to establish two new business complexes in Cairo, Egypt by 2026. They will feature a main logistical centre, research and test centres, and offices. Each site will span 2,000,000 sq m.


TEXTILES DECATHLONCOMESTOMAURITIUS Sports retailer Decathlon, a subsidi- ary of France-based Association Familiale Mulliez, will invest MRs700m($17.4m) to open a ware- house in the Riche-Terre area of the Mauritius Freeport Development in Port Louis, Mauritius. The 26,000 sq mcentre will serve customers in Africa, Asia, and the Middle East. Decathlon chose Mauritius for the project over 10 other competitive locations, including Dubai.


This investment news and data has been provided by fDi Markets, a crossborder investment tracking service that is part of The Financial Times Ltd’s fDi Intelligence division (www.fdiintelligence.com)


STATS


MEAGREENFIELD FDI INTO MANUFACTURINGBETWEEN 2015AND2020 BY PROJECT NUMBER


100 150 200


50 0 Source: fDi Markets April/May 2021 www.fDiIntelligence.com


MEAGREENFIELDFDI INTO MANUFACTURINGBETWEEN 2015AND2020 BY CAPEX


10 20 30 40 50


0 Source: fDi Markets 85


MiddleEast &Africa


Viewfromthe


valuechainsarenotan immediateoutcomeofthe Covid-19pandemicorits


D


impactonthecurrentglobaleconomic productionsystem.Thefinancial crisis of2009previouslydemonstratedthe shortcomingsoftheglobally interdependentfinancialsectorand itssevereimplications forthereal economy.Theuniquenessofthe Covid-19pandemic,however, lies in its radicality. Undoubtedly,manyAfrican


countries sufferedimmensely from thepandemicshockto their economies.However,thevulnerability inkeysectors,suchasthe pharmaceutical industry, withexport restrictions in China, Indiaandother countries,unveileddeeper structural shortcomings, particularlyamongthe poorest nations. Building local or regional


productioncapacities insuchcost- andknowledge-intensivesectors will needmuchmorethanoptimisation of trading framework throughthe AfricanContinentFreeTradeArea Agreement. Africa’s biggesteconomic partners, theEUandChina,needto provide thenecessary financialand structuralsupport todevelopaself- sustaininghealthcaresystemwith localpharmaceuticalcapacities. Whilegovernments invested


heavily in Africa’s agriculturalsector asapossiblesolution after the financial crisis,todaythemainfocus isonagritech.TheUAEalreadyhasa smallecosystemofhomegrown agritech startupsthat scoreda$100m investment fromKuwait.Amajor part of theUAE’snewlyestablished$10bn investmentfundwith Israel is also allocatedto thedevelopment of agritech solutions. Urgentlyneededstructural


changesareeasier toachievewhen thenecessary fundsareavailable. However,along-termstrategic vision ofdevotedandhonest political governanceissometimesmore important thanmoney.■


Mazdak Rafaty is managing partner of Ludwar International Consultancy and SME advisor to the joint Emirati-German Chamber of Commerce. E-mail: m.rafaty@lic-consulting.com


eglobalisationand regionalisationof


Project number


MOROCCO EGYPT UAE


SOUTH AFRICA


SAUDI ARABIA


Capex ($m)


SAUDIARABIA NIGERIA


ETHIOPIA OMAN ALGERIA


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