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Stellantis Middle East and Africa Reports Strong 2023 Performance – Advancing Fast Toward Dare Forward 2030 Goals

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Stellantis

Stellantis MEA’s performance in 2023 reflects a steady alignment with the Dare Forward 2030 strategy, focusing on offering mobility solutions that answer the needs of our customers in the MEA region

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CASABLANCA, Morocco, March 1, 2024/APO Group/ — 

Stellantis Middle East and Africa (MEA) (www.Stellantis.com) has shown robust performance in 2023, effectively advancing its Dare Forward 2030 objectives despite global challenges. Key achievements include:

  • Net Revenues up 64% versus 2022 to €10.560 billion
  • Shipments up 43% versus 2022 to 616,100 units
  • Adjusted Operating Income (AOI) up by 111% versus 2022 to €2.503 billion
  • Market Share up, reaching 14.9%, a 3-point gain versus 2022
  • LCV Regional Market Position: ranked 2nd in 2023, 1st in Q4 2023
  • Customer centricity: Top Level of Performance of the Group with n.1 position in quality of service and n.2 position in quality of product

Stellantis MEA’s performance in 2023 reflects a steady alignment with the Dare Forward 2030 strategy, focusing on offering mobility solutions that answer the needs of our customers in the MEA region. Market share grew to 14.9%, a notable step towards the 22% leadership market share 2030 goal outlined in the Dare Forward 2030 MEA section of the plan, suggesting an expansion in market presence.

Samir Cherfan, Chief Operating Officer Stellantis Middle East and Africa commented: “The region is very dynamic, and we have ambitious plans. We are aiming to become the n.1 regional market player with one million vehicles sold by 2030 of which 35% will be electric. We want to move to over 90% regional production autonomy meaning producing in the region for the region, which will position us by far as the most localized player in the region. Thanks to the strong engagement of our employees and partners, we are advancing at full speed in achieving our Dare Forward 2030 strategic plan”.

These accomplishments highlight Stellantis MEA’s pivotal role in Stellantis “Third Engine” and its dedication to growth and customer satisfaction. Progress was made in several strategic areas, including:

Industrial Expansion:

We are aiming to become the n.1 regional market player with one million vehicles sold by 2030 of which 35% will be electric

  • Algeria: start of production of Fiat 500 in December 2023 in Tafraoui plant manufacturing.
  • Morocco: progress in the announced doubling of the production capacity in Kenitra manufacturing facility to reach 400,000 vehicles by 2024 along with 72,000 electric micro-mobility objects with 3 models Citroen Ami, Opel rocks-e and Fiat Topolino that has been added to the product portfolio in 2023.
  • Egypt: Announcement of production with a new automobile plant, enhancing market position and strengthening Stellantis footprint.
  • South Africa: Announcement of the building of a new plant in 2025 with a maximum capacity of 100,000 unites by 2030.
  • Turkey: Production increase with the allocation of “K0” model to Tofaş.

Product Innovation:

  • 111 Launches across 77 Markets in 2023 of which 21 BEV launches.
  • In 2023, Stellantis made significant strides across diverse regions, from Turkey through the Middle East, North Africa, to Sub-Saharan Africa and South Africa. Fulfilling its commitment to enhancing customer mobility and innovation, the company collected 13 awards for a range of models in various markets.

Commercial Growth:

  • Turkey: announcement of the merging of all Stellantis commercial activities under one single entity TOFAS enabling increased business synergies and value creation for all Stellantis brands and segments.
  • Morocco: improvement of the distribution setup and network structure. 
  • Algeria: Start of import operations and development of a distribution network with more than 50 points of sales covering 65% of the Algerian territory in less than one year.

Purchasing Excellence:

  • Reached an annual purchasing value of € 5.6 billion, with a robust development in our supplier ecosystem across the region.

Building on 2023 momentum, Stellantis MEA enters 2024 with a focused strategy aiming to:

  • Consolidate the Stellantis position in the Mediterranean crown and the French overseas territories by achieving above 30% market share by 2030.
  • Enhance commercial performance across key markets, ramping up in the Middle East, South Africa and sub-Saharan Africa with a market share above 12% by 2030.
  • Continue to build on sourcing autonomy.
  • Make significant strides in micro-mobility.
  • Continue to nurture and hire local talent.

These efforts will maintain the growth trajectory and continue delivering exceptional value to Stellantis MEA customers and stakeholders.

For reference, Stellantis MEA strategy is to reach by 2030:

  • Over 22% market share
  • Over 25 % LEV Mix
  • Over 12% Adjusted Operating Margin
  • Around 55 launches
  • A self-sourcing rate above 70%

Distributed by APO Group on behalf of Stellantis.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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