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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

Liquid Intelligent Technologies revitalises access to cloud and cyber security services in support of improved national digital resilience

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Liquid Intelligent Technologies

These services will be available to existing and potential customers in Botswana, and at the centre of the new offering is Secure360, the company’s integrated security framework

GABORONE, Botswana, May 13, 2026/APO Group/ –Liquid Intelligent Technologies (https://Liquid.Tech), a business of Cassava Technologies, a global technology leader, brings cloud and cyber security solutions and services to businesses and enterprises of all sizes in Botswana. The announcement comes as Liquid celebrates a decade of operations in the country.

 

These services will be available to existing and potential customers in Botswana, and at the centre of the new offering is Secure360, the company’s integrated security framework that enables organisations to move beyond reactive breach response towards proactive intelligence, protection and assurance. The solution combines local delivery with continental-scale infrastructure and global technology partnerships to provide organisations with enterprise-grade digital security and cloud capabilities aligned with national digital priorities.

When organisations engage with Liquid Intelligent Technologies in Botswana, they are connecting to the strength of Cassava’s integrated digital ecosystem

“Over the last decade, Liquid has deployed over 1174.08 km of fibre, bringing multi-terabit capacity and unmatched resilience to the region. By establishing a 730km backbone along the A1 road, we’ve positioned Botswana as a critical hub, linking networks from Zimbabwe, South Africa, Kenya, Zambia, the Democratic Republic of Congo, and Sudan,” said Odirile Tamajobe, Managing Director of Liquid Intelligent Technologies Botswana. “Now, by bringing the cloud and cyber security services into the country, we are empowering local businesses with world-class digital solutions, ensuring they can compete and win on the global stage.”

The expansion of Liquid’s offerings in the market reflects the broader Cassava strategy to deliver integrated digital infrastructure and platforms through its One Cassava approach.

“When organisations engage with Liquid Intelligent Technologies in Botswana, they are connecting to the strength of Cassava’s integrated digital ecosystem,” said Ziaad Suleman, CEO of Cassava Technologies SA and Botswana. “Beyond cloud and cyber security, customers can access data centres, AI readiness reviews, and tailored technology journey roadmaps, all within a unified platform designed to support secure innovation and long-term digital resilience”.

As Botswana advances on its Vision 2036 ambitions to expand digital services across government, financial services, telecommunications, and critical infrastructure sectors, Cassava’s digital services aim to strengthen national digital resilience, fostering pride and confidence in the country’s progress.

Distributed by APO Group on behalf of Liquid Intelligent Technologies.

 

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Verdant IMAP Act as Financial Advisor and Arranger to Metro Africa Xpress (MAX) on its USD 8 Million in Debt Capital Raise

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Verdant IMAP

The transaction establishes a foundation for further institutional capital deployment into the business

JOHANNESBURG, South Africa, May 13, 2026/APO Group/ –Metro Africa Xpress (MAX), Africa’s leading electric mobility platform, has secured USD 8 million in debt funding from Triple Jump, marking a key milestone in scaling its clean mobility operations.

Triple Jump, a Netherlands-based impact investment manager with a strong track record of financing inclusive financial institutions and clean energy businesses across emerging markets, represents one of MAX’s first international institutional lenders. Its participation underscores confidence in MAX’s operating model, asset-backed lending structure, and long-term scalability within Africa’s evolving mobility sector.

The funding will support:

  • Expansion of MAX’s electric vehicle (EV) fleet
  • Rollout of battery swap infrastructure
  • Continued development of its Pay-As-You-Go (PAYGO) financing platform

MAX’s model is designed to lower barriers to asset ownership for commercial drivers (“Champions”), enabling income generation through access to productive mobility assets while reducing operating costs relative to internal combustion alternatives.

Operating across Nigeria, Ghana, and Cameroon, with Nigeria as its core market, MAX is building an integrated ecosystem comprising:

  • Purpose-built EVs adapted for local conditions
  • Battery swapping infrastructure to address charging constraints
  • IoT-enabled fleet management systems
  • Embedded financing solutions for underserved drivers

Verdant IMAP acted as sole financial advisor and arranger on the transaction, supporting structuring, investor engagement, and execution. The transaction establishes a foundation for further institutional capital deployment into the business.

Distributed by APO Group on behalf of Verdant Capital.

 

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Rhino Resources Joins African Energy Week (AEW) as Gold Sponsor as Southern African Exploration Expands

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African Energy Chamber

Rhino Resources will participate at the 2026 edition of the African Energy Week conference and exhibition – Africa’s premier event for the energy sector – as a gold sponsor

CAPE TOWN, South Africa, May 8, 2026/APO Group/ –Exploration company Rhino Resources has joined the African Energy Week (AEW) 2026 Conference and Exhibition as a Gold Sponsor, reinforcing its role as one of Africa’s emerging independents driving frontier and greenfield exploration across Southern Africa.

 

Scheduled for October 12–16 in Cape Town, AEW 2026 comes as Rhino Resources accelerates exploration activity across Namibia’s Orange Basin while broadening its footprint into South Africa’s Karoo Basin. The sponsorship reflects the company’s strategy to deepen engagement with investors, service providers and policymakers as it advances multiple assets toward development readiness and future final investment decisions.

At the core of Rhino Resources’ upstream momentum is its multi-well deepwater drilling campaign in Namibia’s Orange Basin – one of the world’s most prolific frontier exploration hotspots. The company is targeting FIDs between late 2026 and early 2027 across operated and partner-led assets, including the co-development of the Volans and Capricornus discoveries in Petroleum Exploration License (PEL) 85.

Rhino Resources represents a new generation of African-focused independents that are willing to take on frontier risk to unlock long-term energy value

Recent drilling results have strengthened the commercial case of these Namibian assets. The Volans-1X well delivered strong gas-condensate flow rates in February 2026, while the earlier Capricornus-1X well confirmed the presence of light oil, positioning Rhino Resources among the key players contributing to Namibia’s ambition of achieving first oil production by 2030.

Beyond Namibia, Rhino Resources is broadening its portfolio through onshore exploration in South Africa’s Karoo Basin. The company is advancing a six-well campaign targeting helium, methane and hydrogen resources in the Free State Province – a move that reflects both geographic diversification and a wider strategy to support a more resilient and diversified regional energy mix.

This expansion comes at a time when Southern African economies face energy security challenges due to ongoing disruptions to global shipping routes, reinforcing the importance of unlocking domestic resource potential to support industrial growth and reduce external vulnerabilities.

Rhino Resources’ role as Gold Sponsor at AEW 2026 therefore comes at a pivotal stage in its growth trajectory. The event provides a platform to showcase its exploration progress, strengthen partnerships and position its projects within the broader African energy investment landscape.

At AEW 2026, Rhino Resources’ executives are expected to participate in high-level panel discussions, offering insights into frontier basin development, cost-efficient exploration strategies and pathways to fast-tracking project commercialization across emerging African markets.

“Rhino Resources represents a new generation of African-focused independents that are willing to take on frontier risk to unlock long-term energy value,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber. “The company’s recent discoveries in Namibia and expanding exploration strategy in South Africa highlight the scale of opportunity across the continent and the critical role independents play in translating resources into production, investment and economic growth.”

Distributed by APO Group on behalf of African Energy Chamber.

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