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Stellantis Starts Production in its Tafraoui Plant in Algeria

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Tafraoui Plant

The plant represents an initial investment of €200 million and will assemble 90,000 cars annually for Algerian market with over 35% localization rate

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ORAN, Algeria, December 27, 2023/APO Group/ — 

Stellantis (www.Stellantis.com) delivers on its commitment made in November 2022; The plant represents an initial investment of €200 million and will assemble 90,000 cars annually for Algerian market with over 35% localization rate; This strategic move illustrates a long-term commitment to the development of the Algerian automotive industry, job creation, and technology transfer; Letter of Intent signed aiming to accelerate Stellantis contribution to the development of the Automotive Ecosystem in Algeria; Algeria will play a key role in Stellantis Middle East and Africa Dare Forward plan to become one of the leading automotive players in the region with a strong industrial footfprint and a production capacity of over 1 million vehicles per year.

Stellantis delivers on the commitment made in November 2022 announcing the start of production in its manufacturing plant in Tafraoui – Algeria, a  strategic move to bolster the development of the country automotive sector through localized manufacturing of Fiat models, including Fiat 500 and Fiat Doblò, and to further strengthen Stellantis’ market share in the Middle East and Africa region.

The inauguration ceremony, chaired by Mr. Ali Aoun, Minister of Industry and Pharmaceutical Production, featured Mr. Carlos Tavares, Stellantis Chief Executive Officer, Mr. Valentino Valentini, Vice Minister of Enterprises and Made in Italy, HE. Mr. Giovanni Pugliese, Ambassador of Italy in Algeria, Mr. Saïd Saayoud, Wali of Oran, Mr. Samir Cherfan, Stellantis Middle East and Africa Chief Operating Officer, Mr. Olivier François, FIAT Chief Executive Officer, Mr. Florian Huettl, Opel and Vauxhall Chief Executive Officer, Mr. Arnaud DEBOEUF, Chief Manufacturing Officer and Mr. Hakim Boutehra, Managing Director of Stellantis Algeria, Tunisia.

On this occasion, a Letter of Intent has been signed between Stellantis and the Algerian Authorities to accelerate Stellantis contribution to the development of the Automotive Industry; a step 2 ambition, in terms of production capacity, local integration rate and the creation of a Stellantis Academy in partnership with the Algerian Education Ministries. This new phase is associated with conditions of success that are being discussed between the two parties.

“Today, a letter of intent regarding the expansion of Stellantis’ industrial project in Algeria will be signed to increase the production capacity of this plant, which will be oriented towards the local and export markets,” declared Ali Aoun, Minister of Industry and Pharmaceutical Production, during his speech. “We, as public authorities, commit to ensuring the support of all investment projects aimed at creating wealth and employment.”

This strategic move illustrates a long-term commitment to the development of the Algerian automotive industry, job creation, and technology transfer

“Our Dare Forward 2030 plan envisioned Algeria being cemented into Stellantis’ regional future, and today we’re proud to have followed through on this plan by bringing Fiat brand to the country and providing great models to our Algerian customers through the manufacturing of the cars in Algeria,” said Stellantis CEO Carlos Tavares. “This is the beginning of a journey of growth and development for the benefit of the citizens of Tafraoui and Algerian customers. With today’s further announcement, we are poised to increase our commitment towards the country”.

This development follows the automotive specifications agreement signed in November 2022 with the Algerian Investment Promotion Agency (AAPI), confirming a framework agreement signed on October 13, 2022. The agreement initiated the development of industrial, aftersales, and spare parts activities for FIAT. Stellantis and its suppliers have committed an initial investment exceeding €200 million for the manufacturing of four models.

The Tafraoui plant, covering an area of 80 acres, will initially have an annual assembly capacity of 90,000 cars, featuring a range of four models, beginning with the Fiat 500 and the Fiat Doblò. In 2024, we aim to produce 40 000 units in SKD. The plant will reach 90 000 units in CKD including painting welding and stamping by 2026.

The industrial project has already created 500 direct jobs in Algeria in 2023, with the aim of reaching 1,200 jobs by end of 2024 and 2,000 jobs by 2026. In addition, the local supplier ecosystem will create over 1,600 indirect jobs by 2026.

Stellantis is committed to supporting Algerian authorities in developing the automotive industry and serve Algerian customers. The long-term commitment also includes developing a local supplier’s ecosystem and achieving a localization rate surpassing 35% in 2026, two years ahead of the regulatory threshold of 30%.

Additionally, knowledge and technology transfer are key and will be focusing on mastering advanced technologies, including electrified and electric vehicles. The current Stellantis and Suppliers operational teams have already undergone 125,000 hours of training in 2023; while the network staff has been trained over 15 000 hours. In addition, an “Automotive” University Diploma has been created for the factory technical and management teams and processes to guarantee Customer Satisfaction have been developed and deployed across the commercial network.

Stellantis launched its commercial operations in Algeria in March this year and has had a very strong ramp-up, closing the year with more than 50 points of sales covering 65% of the Algerian territory while offering 9 models and 2 brands: Fiat and Opel; with a team with close to 900 people and a robust logistics setting to deliver daily cars to our esteemed Algerian customers.

As part of this commitment, Algeria is positioned to become an export platform for Stellantis in the Middle East and Africa region. Benefiting from the advantages offered by Algeria, Stellantis aims to position the country as a strategic hub for automotive production.

Distributed by APO Group on behalf of Stellantis.

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Ministry of Digital Transition and Administration Reform, the Digital Development Agency and GITEX Africa Morocco 2025 organiser announce the landmark third edition in Marrakech

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GITEX Africa

Africa’s Largest Tech & Startup Show Expands, Introducing Industry-Defining Innovations, Global Exhibitors, and Cutting-Edge Digital Initiatives

RABAT, Morocco, March 17, 2025/APO Group/ –Under the High Patronage of His Majesty King Mohammed VI, May God Assist Him, the Ministry of Digital Transition and Administration Reform, in partnership with the Digital Development Agency (ADD) and KAOUN International, has officially announced the much-anticipated third edition of GITEX Africa Morocco (www.GITEXAfrica.com), set to take place from April 14 to 16, 2025, in the vibrant city of Marrakech. As Africa’s largest and most influential technology and startup event, GITEX Africa Morocco stands as a beacon of innovation, fostering investment, technological breakthroughs, and economic transformation across the continent.

 

With the resounding success of previous editions, GITEX Africa Morocco 2025 is poised to be bigger, bolder, and more transformative than ever before. This year’s event will feature specialized industry summits, exclusive creative industry activations, and high-impact networking forums, all meticulously designed to connect government officials, industry pioneers, investors, and entrepreneurs in groundbreaking discussions and collaborations. With a reinforced focus on Africa’s digital public infrastructure, emerging AI ecosystems, and cutting-edge technological advancements, this edition will further establish Africa as a key player in the global tech landscape.

Key features of GITEX Africa Morocco 2025

Pioneering industry-centric initiatives

Among the most highly anticipated additions to GITEX Africa Morocco 2025 is the Africa Future Connectivity Summit, an exclusive assembly for leaders in telecommunications, cloud computing, and data centers. This summit will delve into the far-reaching impact of broadband expansion, 5G deployment, and cloud-driven advancements, fostering strategic public-private partnerships that will shape Africa’s digital future.

Bridging global African innovation

Another key addition to GITEX Africa Morocco 2025 is the Diaspora Studio, a dedicated hub designed to unite African innovators across the world. This initiative aims to unlock investment opportunities, cross-border partnerships, and knowledge-sharing between the African diaspora and local tech ecosystems. By engaging with venture capitalists, startup incubators, and leading research institutions, this platform will serve as a powerful conduit for advancing Africa’s technological leadership on the world stage.

Government leadership and global collaboration

The Moroccan government remains a steadfast advocate for GITEX Africa Morocco’s growth, reinforcing its vision of establishing Morocco as a premier digital hub in Africa, in line with the High Instructions of His Majesty King Mohammed VI who stressed the necessity for Africa to be actively engaged in the digital transformation the world is witnessing today. The event will host high-level government representatives, regulatory bodies, and technology industry leaders, driving pivotal conversations on AI governance, digital regulations, and the policies defining Africa’s innovation landscape.

H.E. Amal El Fallah Seghrouchni, Minister Delegate in Charge of Digital Transition and Administration Reform, Government of Morocco, emphasized the government’s dedication to this mission, stating: “Following the success of the 2024 edition, Morocco is proud to host the 3rd edition of GITEX AFRICA, reaffirming its role as a key enabler of Africa’s digital transformation. Under the High Patronage of His Majesty King Mohammed VI, may God assist Him, and with the strong commitment of the Moroccan Government, this edition will introduce strategic sectors such as EdTech, AgriTech, HealthTech, and SportsTech, reinforcing Africa’s position as a global hub for innovation. GITEX AFRICA 2025 will bring together industry leaders, innovators, and policymakers to foster high-impact collaborations and accelerate the continent’s integration into the global digital economy. Morocco remains committed to driving Africa’s technological future through innovation, investment, and strategic partnerships.”

In addition to strong government support, the private sector is also demonstrating its commitment to Africa’s economic growth, with notably the International Finance Corporation (IFC) joining GITEX Africa as the Economic Development Partner. IFC’s involvement underscores its dedication to fostering sustainable investment and driving the continent’s digital transformation.

GITEX Africa’s momentum is advancing as new partnerships are forged and new industry sectors are explored to broaden the impact on the Africa’s digital landscape

The International Finance Corporation (IFC) will make a landmark appearance at GITEX Africa 2025, highlighting the intersection of global investment, technology, and entrepreneurship. A keynote from IFC’s Managing Director, Makhtar Diop, will address Africa’s economic evolution and the role of tech-driven growth. This engagement underscores the continent’s rising digital economy and the drive for scalable innovation in fintech and agribusiness.

Additionally, SheWins Africa, an IFC initiative will be featured, reinforcing its mission to empower women-led startups and drive inclusive economic growth across the continent.

Expanding sustainability and digital impact

As GITEX Impact continues to grow, the 2025 edition will expand beyond its traditional focus on agritech, climate, and water technologies to encompass energy transition, mobility, edutech, and sports technologies. These pivotal sectors are instrumental in shaping Africa’s sustainable economic development, reinforcing GITEX Africa Morocco’s commitment to utilizing technology as a force for social and economic transformation.

Mr. Mohammed Drissi Melyani, Director General of ADD said “GITEX Africa Morocco has become the continent’s foremost platform for digital transformation, facilitating the exchange of expertise and best practices in technological innovation while strengthening the global competitiveness of Africa’s public and private ecosystems.

This third edition arrives at a crucial juncture, aligning with the worldwide acceleration of digital transition. GITEX Africa Morocco will address key challenges related to the resilience of the digital economy by showcasing strategic sectors such as Artificial Intelligence, Industry 4.0, IoT, Cloud, Cybersecurity, Fintech, Edutech, Agritech, Health Tech, Smart Cities, and E-Government, all in full alignment with the Sustainable Development Goals. As a global technology gathering, its overarching mission is to explore the boundless potential of digital innovation and its transformative impact, paving the way for a more inclusive and responsible future.”

With an expanded presence of over 1,400 exhibitors from 130+ countries, GITEX Africa Morocco 2025 is expected to attract thousands of technology professionals, entrepreneurs, and investors, providing unparalleled opportunities for networking, deal-making, and knowledge exchange. The event will serve as the foremost platform for showcasing breakthrough innovations across AI, fintech, cybersecurity, health tech, smart cities, and digital transformation.

KAOUN International, the overseas events company of Dubai World Trade Centre (DWTC) and organiser of GITEX events globally, is spearheading the event’s evolution as a world-class technology showcase. Trixie LohMirmand, CEO of KAOUN International, underscored the significance of this year’s edition, stating, “GITEX Africa’s momentum is advancing as new partnerships are forged and new industry sectors are explored to broaden the impact on the Africa’s digital landscape.

To harness the positive outcomes from these initiatives, necessitate commitment and resilience from private and public stakeholders. We are confident GITEX AFRICA shall play a significant role in actuating and fast tracking the leverage of tech and adoption of AI in these vital sectors of economies.”

Seizing the future of Africa’s digital revolution

As Africa’s digital economy surges—projected to contribute $712 billion to the continent’s GDP by 2050—GITEX Africa Morocco 2025 presents a historic opportunity to engage with the continent’s brightest innovators, industry leaders, and global stakeholders. With Africa’s startup ecosystem poised to attract over $5 billion in venture capital investments, coupled with an expanding tech-savvy workforce, the continent is primed for rapid technological acceleration.

GITEX Africa Morocco 2025 is the stage where the future of Africa’s digital economy takes shape. Don’t miss your chance to be part of this transformative event. Register now to attend or exhibit at www.GITEXAfrica.com, and secure your position at the center of Africa’s most influential technology gathering.

Join us in Marrakech from April 14 to 16, 2025, as we chart the next chapter of Africa’s digital revolution and redefine the continent’s role in the global AI economy.

Distributed by APO Group on behalf of GITEX Africa.

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Sycamore Secures License from Nigeria’s Securities and Exchange Commission (SEC), Appoints Capital Markets Veteran to Lead Asset Management Arm

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Sycamore

Oluwagbenga Magbagbeola joins Sycamore with 17 years of capital markets experience, spanning roles at ARM Securities, FBNQuest Securities, and Profund Securities

LAGOS, Nigeria, March 17, 2025/APO Group/ –Sycamore (www.Sycamore.ng), a Nigerian fintech with over N10 billion in assets under management, today announced two strategic developments that position it for its next growth phase.

The company has secured a license from Nigeria’s Securities and Exchange Commission (SEC) to operate as a fund/portfolio manager and has appointed former ARM Securities Managing Director Oluwagbenga Magbagbeola to lead its asset management arm. This SEC license places Sycamore among a select group of regulated investment firms in Nigeria’s competitive financial sector.

Sycamore Group CEO Babatunde Akin-Moses said, “Securing our SEC license represents the culmination of years of building institutional-grade compliance systems that protect investor interests. With this regulatory foundation and Oluwagbenga’s proven investment expertise, we’re uniquely positioned to deliver performance and security to investors navigating Africa’s complex market conditions.”

Reinforcing this commitment, Co-founder and CCO Onyinye Okonji noted, “This milestone reflects our commitment to operating at the highest standards of financial governance. Our team underwent a rigorous evaluation process, during which regulators examined our governance structures, risk management frameworks, and client protection mechanisms.”

Joining Sycamore allows me to bridge traditional capital markets expertise with fintech innovation at precisely the right time

Oluwagbenga Magbagbeola joins Sycamore with 17 years of capital markets experience, spanning roles at ARM Securities, FBNQuest Securities, and Profund Securities. At ARM Securities, Magbagbeola led the development of investment strategies that consistently performed against market benchmarks during challenging economic cycles, including Nigeria’s recent periods of currency volatility and inflation.

“Joining Sycamore allows me to bridge traditional capital markets expertise with fintech innovation at precisely the right time,” said Magbagbeola. “The SEC license creates a regulatory framework for what many Nigerians are already seeking – protected pathways for investment diversification during economic uncertainty.”

Empowering its institutional approach is Sycamore’s cutting-edge technology infrastructure. Mayowa Adeosun, co-founder and COO, explained, “Our proprietary investment platform represents years of innovation in applying financial technology to local market conditions.”

“We’ve leveraged artificial intelligence and machine learning to analyse market trends and optimise portfolio allocations across multiple asset classes, resulting in more responsive investment strategies tailored to Nigeria’s dynamic market conditions,” Adeosun added.

The company’s recently upgraded mobile app transforms how clients manage their investments. Through an intuitive dashboard, investors can now access institutional-grade portfolio analytics that provide clear visibility into performance, risk exposure, and growth opportunities.

A standout feature is the new Multi-Currency Wallet, which directly addresses clients’ needs for currency diversification by allowing users to hold and invest funds across USD, EUR, GBP, and NGN. This capability, backed by Sycamore’s SEC-licensed status, provides investors with a regulated channel for managing currency exposure.

Distributed by APO Group on behalf of Sycamore Investment and Asset Management Ltd.

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Grand Prize Winner Crowned at the Sixth Africa’s Business Heroes (ABH) Summit and Grand Finale, Marking a Landmark Year for African Entrepreneurship

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Africa’s Business Heroes

The ABH Summit and Grand Finale in Kigali, Rwanda, celebrated the Top 10 finalists, selected from nearly 20,000 applicants to compete for a share of the $1.5 million prize

KIGALI, Rwanda, March 16, 2025/APO Group/ –The Africa’s Business Heroes (ABH) Prize Competition (www.AfricaBusinessHeroes.org), a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, has announced the grand prize winner of its sixth annual competition, along with the first and second runners-up, at the latest ABH Summit and Grand Finale.

The ABH Summit and Grand Finale in Kigali, Rwanda, celebrated the Top 10 finalists, selected from nearly 20,000 applicants to compete for a share of the $1.5 million prize. Under the theme “AI – African Innovation, Insight and Impact,” they pitched their businesses to a live audience and a distinguished judging panel, including Dr. Diane Karusisi, CEO of Bank of Kigali and Ibukun Awosika, Founder of the Chair Centre, who were joined by Fred Swaniker, Founder and CEO of Sand Technologies. The event culminated in the awards ceremony, where the winners were unveiled.

The top three Africa’s Business Heroes for 2024 are:

1st – winning US$300,000 – Henri Ousmane Gueye, Co-founder & CEO, EYONE (https://Eyone.net/) (Senegal)

2nd – winning US$250,000 – Dr. Salma Bougarrani, Co-Founder & CEO, GREEN WATECH (www.GreenWatech.com) (Morocco)

3rd – winning US$150,000 – Alexander Odhiambo, Founder & CEO, Solutech Limited (www.Solutech.co.ke) (Kenya)

Commenting on the win, Henri Ousmane Gueye said, “I am very proud to be announced as the winner of the 2024 ABH Prize Competition. This achievement is the result of a lot of hard work, and I am incredibly proud of my team. It’s a significant milestone for us, and it serves as an encouragement for us to keep working towards solving the problem our innovation addresses. It motivates us to continue tackling the big challenges our country faces.”

ABH Managing Director – Africa, Zahra Baitie-Boateng highlighted the debut of ABi, ABH’s AI co-host, at this year’s Summit and Grand Finale, noting its role in providing insights, sparking discussions and enhancing connections. She emphasized the ingenuity of the Top 10 finalists, whose impact showcases entrepreneurship’s power to address Africa’s challenges. “Congratulations to Henri and all our finalists! As we celebrate their success, we’re excited to launch the 2025 call for applications and continue empowering Africa’s next business leaders.”

Africa’s future will be shaped by those who see challenges as opportunities and take action

ABH announced that Rwanda will host the Summit and Grand Finale for the next four years, reinforcing its role as a hub for entrepreneurship. The Rwanda Development Board (RDB) and Rwanda Convention Bureau (RCB) were recognized as key partners, with Bank of Kigali also supporting the event.

A Summit of Entrepreneurial Insights and Thought Leadership

The two-day ABH Summit and Grand Finale brought together 1,606 participants, showcasing thought leadership and top entrepreneurial talent. Discussions explored how entrepreneurship addresses Africa’s key challenges in healthcare, agriculture and education. The event featured live podcast recordings, a debate, TED-style ABHx talks, a financing masterclass and interactive experiences like the ABH Heroes’ Circle business ‘roast’ and Networking in the Dark, a blindfolded networking session.

With over 50 distinguished speakers from 15 countries, the lineup included Jean-Guy Afrika, CEO of the Rwanda Development Board; Nick Hu, Executive Director of Health Innovation at Sand Technologies; Dr. Brenda Kateera, Country Director at the Clinton Health Access Initiative; Nathalie Munyampenda, CEO of Kepler; and Hasan Haider, Founder & Managing Partner at PlusVC and ABH Semi-Final judge.

In her opening keynote, ABH Grand Finale judge Ibukun Awosika emphasized ‘African Intelligence’ as key to shaping the continent’s entrepreneurial future. She highlighted purpose-driven leadership, lived experiences and local ingenuity in driving impactful solutions. “Africa’s future will be shaped by those who see challenges as opportunities and take action,” she stated.

The 2025 ABH Call for Applications

The event closed with the official launch of the 2025 call for applications, inviting African entrepreneurs to apply for the next edition of the competition and stand their chance to win a share of $1.5 million USD. Full details for interested applicants can be found at: https://apo-opa.co/4bucitT

Distributed by APO Group on behalf of Africa’s Business Heroes (ABH).

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