Anwar Invest signed a Memorandum of Understanding with the Guinean Ministry of the SMB Industry and Private Sector Promotion

Anouar Invest signed a Memorandum of Understanding with the Guinean Ministry of SMB Industry

Anouar Invest signed a Memorandum of Understanding with the Guinean Ministry of the SMB Industry and the Promotion of the Private Sector.

This agreement includes a series of investments over five years in several sectors for a global amount of $ 160 million USD.

The Anwar Invest Group, a Moroccan holding, hasconcluded a Memorandum of Understanding with the Ministry of the SMB Industry and the promotion of the Private Sector of the Republic of Guinea.

The signing took place at the Moroccan-Guinean Economic Forum, organized by the General Confederation of Moroccan Enterprises (CGEM), on Tuesday, the 9th of September, 2014 at the Royal Mansour Hotel in Casablanca under the theme « Cap Guinea : Build the economy, seizethe business opportunities. » 

Signed by Hadja Fatoumata Binta Diallo, Minister of SMB Industry and the Promotion of the Private Sector, and El Hachmi Boutgueray, Chief Executive Officer of Anwar Invest, the MoU specifies the terms and conditions, the procedure as well as the calendar, which Anwar Invest will follow to invest, over a timeframe of five years, a total investment amounting to USD 160 million dollars.

The projected investment program focuses on several areas : 

• The milling industry ;
• The animal feed sector ;
• The cement sector ;
• The cookies sector ;
• The fishing industry and the fishery products development sector ;
• The sector of real-estate (housing) promotion.

In this context, Anwar Invest provides for the creation of more than 1,000 permanent jobs and is committed to establish, within the terms and conditions applicable per the Guinean laws, one or more companies under Guinean law for the implementation of the investment program.

For its part, the Guinean Government committed to support and encourage Anwar Invest’s investment program by setting up a legal, fiscal and also incentives customs framework.