Middle East Economic Survey

VOL. XLVIII

No 27

4-July-2005

MOROCCO

Afriquia Gaz To Triple Its Capital

Akwa Group subsidiary Afriquia Gaz is about to increase its capital by MD1bn ($111mn), the firm announced on 16 June. The increase, of which Akwa Group will provide MD700mn ($77.3mn), will triple the companys capital which stood at MD505.5mn ($55.3mn) end-2004. It will be used to finance 75% of the companys acquisition of the Oismine Group while the remaining 25% will be backed by debt. Afriquia Gaz...