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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.

Business

ACG CEO Paulo J. Cruz to Speak at the Leadership Summit 2026 in Luanda on How Sport and Entertainment Districts Can Accelerate Africa’s Productive Economy

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Paulo J. Cruz

Paulo J. Cruz joins CEOs from Angola’s telecoms, energy, data infrastructure, and technology sectors on the Productivity and Productive Economy panel at one of the country’s leading executive summits

LUANDA, Angola, November 10, 2026/APO Group/ –African Collaborations Group (ACG) (www.ACGafrica.com), the leading strategic project origination and collaboration platform focused on the industrialisation of sport in Africa through the origination of bankable sport and entertainment district ecosystems, today announced that its Founding CEO, Paulo J. Cruz, will speak at the 2nd Edition of the Leadership Summit 2026 (Cimeira de Liderança 2026) in Luanda, Angola, on 19 November 2026.

 




 
 

Mr Cruz will participate in Panel 3, “Productivity and Productive Economy,” alongside CEOs from Angola’s telecoms, energy, data infrastructure, and technology sectors, including the leaders of TVCABO Angola, Raxio Data Centres, Angola Cables, TIS, and EWT – Energy Water Telecom. The panel will be moderated by Kussi Bernardo, CEO of Multitel.

The Leadership Summit, held under the theme “Leadership that Generates Results: Strategy, Execution and Value,” convenes Presidents of Boards of Directors, CEOs, CFOs, and senior executives from Angola’s most strategic sectors, including oil and gas, mining, banking, telecoms, energy, industry, and agriculture. The event takes place at the Palmeiras Suite Hotel in Talatona, Luanda.

A Victory District™ generates revenue from 15 to 20 different asset types, creates thousands of permanent jobs, and operates 365 days a year

Mr Cruz will address how ACG’s origination of integrated sport and entertainment districts across Africa contributes directly to the transformation of the productive economy. His intervention will focus on how sport infrastructure, when conceived as a financially self-sustaining urban ecosystem rather than a standalone stadium, becomes a catalyst for job creation, tourism, diversified revenue generation, and long-term economic development.

“Sport infrastructure is not a social cost. It is a productive asset,” said Paulo J. Cruz, Founding CEO of ACG. “A Victory District™ generates revenue from 15 to 20 different asset types, creates thousands of permanent jobs, and operates 365 days a year. That is not a stadium. That is a contribution to the productive economy. I am honoured to share that vision alongside some of Angola’s most influential business leaders.”

ACG’s Victory District™ framework is designed to originate integrated, mixed-use sport and entertainment districts that move beyond single-venue development models. Each district combines stadiums, indoor arenas, training academies, hotels, conference centres, retail, entertainment, residential, and commercial space within a single masterplanned development, financed by private and institutional capital without reliance on public subsidy.

Mr Cruz brings more than 25 years of experience across Africa, the Middle East, and Europe in originating, structuring, and delivering large-scale infrastructure, urbanisation, and real estate development initiatives. Prior to ACG, he served as Senior Vice President at DAMAC Group, the largest private real estate developer in the Middle East, and as Group CEO of LandAfrique, a pan-African development platform focused on industrial parks, infrastructure, housing, and power projects across Sub-Saharan Africa.

The Leadership Summit 2026 is an initiative of Clube De Valor™, focused on leadership, strategy, execution, and value creation across Angola’s business landscape.

Distributed by APO Group on behalf of African Collaborations Group (ACG).

 




 

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Energy

South Sudan, Uganda, Kenya and Djibouti to Headline South Sudan Oil & Power (SSOP) 2026 Ministerial Panel

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SSOP

The Ministerial Panel will feature ministerial representatives from South Sudan, Kenya, Djibouti and Uganda

JUBA, South Sudan, November 10, 2026/APO Group/ –Senior energy and government representatives from South Sudan, Uganda, Kenya and Djibouti will participate in a ministerial panel at South Sudan Oil & Power (SSOP) 2026, taking place November 24-25 in Juba. The discussion will focus on strengthening regional energy cooperation, advancing cross-border infrastructure and attracting investment into East Africa’s petroleum sector.

 




 
 

Titled Regional Cooperation, Investment and Energy Security, the panel will feature Awow Daniel Chuang, Minister of Petroleum of South Sudan; Monica Musenero Masanza, Minister of Energy and Mineral Development of Uganda; Silvester Kasuku, Advisor, Governance, Executive Office of the President, Kenya; and Wahib Ali Boulo, Director of Hydrocarbons, Djibouti.

Their participation comes as East Africa enters a new exploration and production cycle, backed by the start of upstream projects in Uganda and Kenya, a drive to strengthen cross-border trade by Djibouti and efforts to increase crude production in South Sudan. Regional cooperation is supporting these activities and SSOP 2026 will provide a platform to explore East Africa’s broader energy renaissance.

Minister Chuang joins the event as South Sudan opens its upstream market to international investors. Under efforts to raise production from 174,000 barrels per day (bpd) to around 230,000 bpd in the near term, the country is inviting investors to support brownfield development, accelerate exploration and expand refining capacity. Around 14 blocks are currently available.

Uganda is also promoting investment in exploration as the country prepares to start oil production from the Kingfisher and Tilenga oilfields in June 2027. The fields represent the country’s entry into commercial oil production. Crude will be exported via the East African Crude Oil Pipeline, currently 92% complete, which connects the fields to Tanzania’s Port of Tanga. To sustain upstream investment, the country also plans to launch a licensing round in 2026/2027.

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Kenya is preparing to join East Africa’s oil producers as the country prepares for first production from the South Lokichar Basin in December 2026. Developed by Gulf Energy, the project targets 20,000 bpd in its first phase and 50,000 bpd in its second. The project coincides with investments in the downstream sector. In late-September 2026, Nigeria’s Dangote Group launched construction activities at a 700,000-bpd refinery in Lamu. A South Sudanese delegation, led by Minister Chuang, attended the groundbreaking ceremony.

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As regional neighbors prepare for commercial oil production, Djibouti continues to strengthen its cross-border partnerships. The country signed an agreement with South Sudan in 2025 to develop the White Nile Trade Corridor, which aims to establish river and dry-port infrastructure in Juba, Bor, Malakal and Renk, connecting South Sudan to international trade routes through Djibouti. Boulo’s participation at SSOP 2026 creates new pathways for strengthened regional ties.

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Returning for its seventh edition under the theme Resource Renaissance – Energy-Fueled Growth for a New Generation, SSOP 2026 will provide a platform for policymakers, national oil companies, investors and infrastructure developers to examine how regional partnerships can strengthen energy security and accelerate project development.

For more information, visit www.SouthSudanOilPower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 




 

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Merec Industries, a subsidiary of Invictus Investment Company PLC, builds first pasta manufacturing plant in northern Mozambique

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Merec

The plant will significantly expand Mozambique’s pasta production capacity and bring production closer to consumers in the north, while increasing the availability of high-quality fortified pasta in line with the country’s national food fortification requirements

Today, pasta is part of the basic food basket of Mozambicans

DUBAI, United Arab Emirates, November 10, 2026/APO Group/ —

  • Merec Industries, Mozambique’s largest flour milling company, is building the first pasta manufacturing plant in the north of the country, taking its coverage countrywide
  • Once complete, Merec’s plants will have the capacity to meet Mozambique’s domestic pasta demand and export the surplus, contributing to the country’s food security
  • The investment comes as Merec Industries prepares for its next phase of growth, with Helios Investment Partners set to become a minority shareholder in the business alongside Invictus Investment
  • Governor of Nampula Province visited the site in Nacala to view construction progress

 




 
 

Invictus Investment Company PLC (https://InvictusInvestment.ae/) (ADX: INVICTUS), a leading holding company specialised in agro-food commodities across the Middle East and Africa, today announced that its subsidiary Merec Industries (“Merec”) is building the first pasta manufacturing plant in the northern region of Mozambique, in Nacala. Once the plant is complete, Merec will be the only company in Mozambique with pasta manufacturing facilities in all three regions of the country: the north, central and south. Together with the expansion of its Machava industrial facility in the south, the new plant will take Merec’s total pasta production capacity beyond Mozambique’s national demand, enabling the country to meet its pasta demand from local production and export the surplus. Nacala is home to a deep-water port and is the gateway to the Nacala Logistics Corridor, which links Mozambique to Malawi and Zambia.

The Governor of Nampula Province, His Excellency Eduardo Abdula, visited Merec’s facilities to view construction progress and learn more about the developments of this investment. The plant will significantly expand Mozambique’s pasta production capacity and bring production closer to consumers in the north, while increasing the availability of high-quality fortified pasta in line with the country’s national food fortification requirements. It will also create direct and indirect jobs, develop local skills and involve businesses across the value chain, from production and logistics to distribution and sales.

Merec’s operating performance has improved significantly since it joined Invictus Investment in January 2025, prompting a more ambitious growth strategy to expand it beyond its core operations into new food categories in Mozambique and across the wider Southern African Development Community (SADC) region. In October 2026, Invictus Investment and Helios Investment Partners announced that Helios Fund V had entered into an agreement to acquire up to a 49% interest in Merec’s holding company, with Invictus Investment remaining the majority shareholder. The transaction is expected to close by the end of 2026, subject to customary closing conditions, including regulatory approvals.

Merec and Invictus Investment also signed cooperation agreements with the International Finance Corporation (IFC), a member of the World Bank Group, at the Lusophone Africa Investment Forum in Cabo Verde last month, to advance agribusiness in Mozambique and across Africa.

Commenting on the announcement, Amir Daoud Abdellatif, CEO of Invictus Investment, said: “Completing Merec’s pasta manufacturing footprint across Mozambique brings production closer to consumers and provides the local capacity needed to build a more resilient food business. This investment is part of our wider approach to growth, which involves taking majority positions in strong businesses, investing in their expansion and bringing in partners who can help take them further. Our ambition is to develop Merec into a regional food platform for Southern Africa, and this plant is an important part of the foundation for that.”

Eng. Luís Aveleira, Executive Board Member at Merec, added: “Today, pasta is part of the basic food basket of Mozambicans. Through this investment, we want to help ensure that Mozambique has the capacity to meet the needs of its own market, reducing its dependence on imported products. With industrial facilities in the north, central and south regions, we are strengthening our ability to supply the national market and contributing to the country’s objectives of promoting local production and import substitution. Beyond ensuring the supply of the domestic market, we also aim to build the capacity to generate production surpluses for export, contributing to foreign currency earnings and the growth of the national economy. We believe that investing in domestic production means investing in food security, industrialisation and the future of Mozambique.”

In addition to strengthening Mozambique’s food security and reducing its reliance on imports, the project reflects Invictus Investment’s focus on midstream and downstream assets across key African markets in support of its aim of becoming a fully integrated agro-food enterprise.

*Please refer to https://apo-opa.co/4sT7DdG for more information. 

Distributed by APO Group on behalf of Invictus Investment Company PLC.

 

 




 

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