Agrifood: AfricInvest hungry for Sobco's Palmary biscuits
Now that it is no longer tied up in the struggling drinks firm NCA Rouiba, the Tunisian private equity company AfricInvest is keen for a slice of the fast-growing biscuit manufacturer Sobco.
Much appreciated by Algiers during the era of former president Bouteflika, it's time for French ambassador Xavier Driencourt to move on. As he readies to leave in the next few months, President Abdelmadjid Tebboune has gone on the offensive against Paris in a calculated populist move.
Algerian soft drinks market leader NCA Rouiba, which is in the process of being taken over by French brewing giant Castel, was able to hold an all-important general shareholders' meeting on 22 April despite the Covid-19 lockdown, thanks to the intervention of the authorities.