Author: Adama WADE

The managing director of Shelter Afrique, Andrew Chimphondah, has just been sacked with immediate effect, Financial Afrik has learned from well-informed sources. The CFO, Kingsley Muwowo, will take over until the announcement of the vacancy of power and the appointment of a new director. This is what emerges from a tense board meeting held on Thursday, February 17, 2022 and which continued late into the evening. Of Zimbabwean origin, Andrew Chimphondah saw his management splashed by a series of scandals which led to the shortening of his mandate which would run until 2024. The scandals revealed by Financial Afrik are…

Shelter Afrique is holding a session of its board of directors at the beginning of February 2022, coupled with a retreat for directors. The face-to-face meeting comes as the pan-African institution specializing in the financing of social housing has been mired in a crisis that has not ended for a year. On the eve of this board of directors, there is reason to wonder if in the end the directors will look into the many files revealed by Financial Afrik or hide the dust under the rug and move on. As a reminder, most of the fraudulent acts denounced by…

Visiting Senegal, the Managing Director of the IMF was welcomed on Saturday December 11 at the headquarters of the Delegation for Rapid Entrepreneurship (DER / FJ) of women and young people. Setting the scene, the Minister Delegate for the DER / FJ, Pope Amadou Sarr first recalled the economic situation in Senegal. The country is counting on growth of 5.1% in 2021 and a projection of 10.8% in 2023. “We are heading towards emergence irreparably,” said Pope Amadou Sarr. And to present to the Director of the IMF this innovative structure created in 2017 under the leadership of President Macky…

The herd reflex of turning in on oneself seems to have taken over science. Long before the dangerousness of the Omicron variant of the Sars-Cov-2 virus, discovered less than a week ago in South Africa, was formally established, politicians seem to have given in to panic, ignoring the recommendation of the Organization World Health Organization (WHO) especially not to close the borders and to trust science. The WHO said in a statement on Friday that the new variant of Covid-19, B.1.1.529, had a large number of mutations, some of which are of concern. For her part, Dr Angelique Coetzee, president…

Convergence, integration and governance. These are the three areas of intervention broken down into 23 flagship actions of the West African Economic and Monetary Union (UEMOA) within its framework of Priority Actions “CAP25” for the period 2021-2025. Africa’s most integrated area is developing a roadmap focused on accelerating integration, economic convergence and deepening the common market. The college of commissioners, which took office last May under the chairmanship of Senegalese Abdoulaye Diop, has thus equipped itself with an instrument for planning and steering its flagship interventions during his term of office. The exercise was all the more urgent given that…

Arrived in January 2021 at the head of Rawsur SA with a clear roadmap, Bernard BARTOSZEK has just completed his mission. The insurance professional passed the torch to Tarik LEFRIYEKH, new general manager. Tarik LEFRIYEKH. As COO (Chief operating officer) of Rawsur since 2017, the new CEO, of Moroccan nationality, is also a seasoned professional, graduate of HEC, former deputy director general of Axa Maroc and, among others, former member of the Moroccan advisory committee insurance, body co-opted by the Ministry of Finance. With 30 years of experience, including 20 with Axa in France and 6 years with Ogar, Gabon’s…

Coris Bank International opened its first branch in Conakry, capital of Guinea, on the Angle Boulevard Diallo Telly on November 8, 2021, pending an official inauguration. “The opening of the Main Agency of Coris Bank International Guinea, an important step for the development of the Coris Group, officially marks the operationalization of the first subsidiary of” Banque Autrement “outside the UEMOA space”, declares Idrissa Nassa , Group PCA. The main branch in Guinea is headed by Mambo Teté Benissan, former managing director of Orabank Guinea. The Togolese manager will be assisted by Vakantié Doumbia, Deputy CEO, former executive of Société…

The Board of Directors of the African Trade Insurance Agency (ACA) reappointed Guy M’Bengue, Managing Director of APEX-CI (association of exporters of Côte d’Ivoire), president of the Network of UEMOA Trade Organizations (ROPC), member of the advisory board of ITC (WTO body), and president of Afriland First Bank Côte d’Ivoire, with an extension of mandate to new countries. Indeed, the Ivorian executive will sit on the board as a director and representative of district 6 of category A shareholders including Benin, Ivory Coast and Togo. Guy M’Bengue’s reappointment for a three-year term was endorsed by the Ministers of Economy and…

The ranking of the top 30 African banks, determined from the total balance sheet, market capitalization, outstanding loans and deposits, GNP and, above all, African expansion (sufficiently overweighted), does not claim to be exhaustive. This is an affirmed bias in favor of institutions that invest outside their countries of origin, thereby contributing to increasing inter-African flows. The second bias represents the bet of transparency. Listed companies are favored by our barometer because we believe that not going public these days is a major obstacle to transparency and the modernization of the financial sector. In short, this Financial Afrik ranking offers…

Niger’s largest bond issue on Monday recorded a resounding early close. Open for subscription on August 16, 2021, the operation called “TPN 6.3% 2021-2031”, initially spread out until September 3, was more than 250% oversubscribed with an order book showing 367 billion euros. FCFA for an offer of 150 billion FCFA. The early closing was announced at approximately 3 p.m. But technically, explains Djibril Beidari Touré, CEO of SGI Niger, the loan was oversubscribed in barely an hour. Eager for fresh paper, the WAEMU financial market thus expresses all its confidence in Niger’s strategic orientations. In addition to the fundamentals…

The Public Treasury of Niger issues 150 billion CFA Francs by public offering on the financial market of the West African Economic and Monetary Union (UEMOA). This is the largest bond issue in the history of this Sahelian country with a subsoil rich in uranium and oil. The subscription period runs from August 16 to September 3, 2021. Referred to as “TPN 6.3% 2021-2031”, the ten-year issue with an interest rate of 6.3% has as arranger and lead manager SGI Niger led by Djibrilla Beidari Touré. The placement syndicate includes CGF Bourse, Africabourse and Coris Bourse.

The Pan-African industrial group Eranove, a major player in the management of public services and the production of electricity and drinking water in Africa, has just increased its capital. This is a major turning point for this group, which is increasingly present in basic infrastructure (water and energy) and the financial sector. The capital increase was subscribed by the new company ECP Power & Water Holding, carried by its historical shareholder Emerging Capital Partners (ECP), AP Moller Capital, fund manager specializing in the infrastructure sector and developing markets, DEG and IFU, German and Danish development finance institutions dedicated to the…

“Rwanda is a country open to business, regardless of nationality” The Kigali International Financial Centre is aiming to become one of Africa’s largest financial centres in the spirit of coordination with the other African financial centres. In this interview, Nick Barigye, CEO of Rwanda Finance Limited, unveiled his country’s strategy to attract global investors and international talents. “We want to connect international investors with opportunities across Africa and to connect African entrepreneurs with global capital”. How do you present Rwanda Finance Limited? RFL is the agency leading the development and promotion of the Kigali International Finance Centre (KIFC). First, allow…

In the exclusive interview given to Financial Afrik in its issue 81, Pathé Dione, CEO of the SUNU Group, announces the conclusion of a strategic agreement on the exit of Sanlam from the Sunu round table and the refocusing of its West African activities. on Dakar. We are considering the creation of two or three other banks in our major countries to strengthen our Life, P&C and banking synergy. 23 years ago, in 1998, then employed by a large group with comfortable treatment, you created the SUNU Group with your partners. First of all, who was Pathé Dione at that…

The spread of the covid-19 pandemic is accompanied, like all major events, by a plethora of conspiratorial theses. Thus, according to a survey carried out by the firm Smart Phorce in partnership with Financial Afrik, 15% of Africans believe that vaccines were invented by Westerners to harm them. In Cameroon, the proportion rises to 44%. “Overall, conspiracy theory comes third in the grounds for refusal, behind fear of side effects (20%) and mistrust of vaccines developed too quickly (16%)”, says Jean-Paul Melaga , CEO of Smart Phorce, a firm specializing in opinion polls and the qualitative and quantitative analysis of…

Interview with Nick Barigye, CEO of Rwanda Finance Limited To be continued Today from 10am GMT on: Website: financialafrik.com Facebook: https://www.facebook.com/events/4141806409216225/ Youtube: https://youtu.be/5pdhgZZ0a48 The Kigali International Financial Center aims to become one of the largest pan-African financial centers in a spirit of coordination with other African financial centers. In this interview, Nick Barigye, CEO of Rwanda Finance Limited, unveils his country’s strategy to attract global investors and talent. “We want to connect international investors with opportunities across Africa. We want to connect African entrepreneurs with capital from around the world. ”

Reelected in the first round of the presidential election on April 11 with 86% of the votes cast, Beninese President Patrice Talon made public on Tuesday May 25 the list of members of his new government, 48 hours after his inauguration. This new government is made up of 23 members including 5 women. There are 3 exits and 2 entries. The choice of stability prevailed over the upheaval that many of the president’s supporters expected. Among the departures, we note that of Sacca Lafia, the former Minister of the Interior who now sits on the Electoral Council, of which he…

Jusqu’à présent, les affaires de corruption en Afrique concernent encore d’anciens présidents ou ministres généralement arrêtés lorsqu’ils descendent de l’avion à Londres, Paris ou New York. En plus des saisies de biens mal acquis, il y a les gels de comptes alimentés par l’argent de la corruption qui ne revient qu’exceptionnellement et se répercute à la source. Dans ce marché juteux, les ONG jouent un bon rôle dans l’indexation des États africains. Dans le scénario, nous avons toujours minimisé le rôle des multinationales, ces seigneurs altruistes qui financent la société civile, qui la rejette sur eux avec cette exigence respectueuse…

The BIDC loan of 50 billion CFA Francs opened for subscription on Monday, May 10, was closed early, in one day. According to exclusive information from Financial Afrik, the order book recorded a record subscription of around 260%, testifying on the one hand to investors’ appetite for fresh paper of good quality, remunerative and with a rather risk profile. weak and, on the other hand, the good structuring proposed by the main arranger, Impaxis Securities assisted by an investment syndicate comprising, as stated by Ababacar Diaw (interview), Coris Bourse as co-arranger and co-head leader and Ecobank Development Corporation (EDC) as…

The ECOWAS Investment and Development Bank (EBID) launches a Bond Loan of 50 billion CFA Francs ($ 91.5 million) on the financial market of the West African Economic and Monetary Union (UEMOA), May 10 to 24, 2021. This is a great first this year for the BRVM bond compartment, positioned on long-term solicitations. The institution, chaired by the Ghanaian George Agyekum Nana Donkor, thus takes an important step in its new vision centered on the intensification of the mobilization of resources in the service of the financing of the development infrastructures of West Africa. The money mobilized under this loan…

Dina El Kadry launches the first mortgage intermediation platform in Senegal. Former director of mortgage loans at the CBAO Attijariwafa Bank group, this finance and communications professional wants to facilitate the sometimes restrictive relationship between banks, real estate developers and potential buyers. “In Senegal,” she explains, “the process of acquiring real estate is not well understood by first-time buyers. Buyers often lack reliable information to assess the quality of the property and make the right choice for the mode of financing ”. Also, employees, members of the liberal profession or other categories perfectly eligible for a mortgage are sometimes unaware…

BADEA and FAO formalized their long-standing partnership by signing a Memorandum of Understanding on the sidelines of the “High Level Dialogue on Africa’s Food: Leadership to Scale Up Successful Innovations”, co-organized the 29 and April 30, 2021 by the African Development Bank (AfDB) and the International Agricultural Development Fund (IFAD) in collaboration with the Forum for Agricultural Research in Africa (FARA) and the Consultative Group for International Agricultural Research (CGIAR). BADEA and FAO have collaborated on many projects in different African countries. But, in the BADEA 2030 strategy, such a convention, signed jointly by the Director-General of the Food and…

Benin’s Minister of Economy and Finance, Romuald Wadagni, has been appointed Chairman of the Board of Governors of the ECOWAS Investment and Development Bank (EBID). The decision taken on April 23, on the sidelines of the institution’s 19 th Ordinary General Assembly, comes as EBID is on its way to institutional and organizational reforms. The institution, chaired since early 2020 by the Ghanaian George Agyekum Nana Donkor, intends to increase its capacity for resource mobilization, an area in which the Beninese minister has particularly distinguished himself in recent years. The ECOWAS Investment and Development Bank (EBID) is the financial arm…

Côte d’Ivoire’s EDC Asset Management (EAM) file has not finished revealing its secrets. Two and a half months after Financial Afrik’s investigation, revealing the sanctions taken by the market regulator, namely the CREPMF, against, on the one hand, Paul-Harry Aithnard, CEO of Ecobank Côte d ‘ Ivoire and also, in this capacity, chairman of the...

The presentation of the results of the West African subsidiaries of BMCE Bank Of Africa, which took place on April 20 by videoconference, suggests strong resilience overall, albeit with a marked contraction in the profit margin subsidiary by subsidiary. Thus, BOA Benin saw its net income contract to 13 billion FCFA, down 11.3% for a GNP up 9.4%. The leading Beninese bank in terms of loans and deposits saw its general operating expenses increase, induced by non-recurring expenses and the doubling of its cost of risk, which nevertheless remained at a controlled level of 1.3% of outstanding loans. means. Same…

On the sidelines of the African Venture Capital Association (AVCA) conference, which opened on April 20, 2021 in virtual mode, David Marchick, chief operating officer of the US International Development Finance Corporation (DFC), declared that the United States of America America will increase their investments in Africa. “With the Biden administration, the US International Development Finance Corporation (DFC) will increase its allocations to Africa. The climate is a high priority, and we will increase our activities to support women-led businesses, technology, healthcare and real estate infrastructure. “’We will increase our estimated average annual commitments to Africa by 20% from US…

Very committed to this project, the Federal Republic of Nigeria has just signed, March 24, 2021, to increase its shares in the capital of AEICORP by $ 18,349,950. Of this amount, $ 10 million is to be disbursed immediately by the NNPC, the national hydrocarbons company. The Republic of Niger was the first country to subscribe to this capital increase for 10 million US dollars. As a reminder, the African Energy Investment Corporation or AEICorp (Africa Energy Investment Corporation) is a development financial institution created on January 26, 2019 following the reform of the APPO Fund; APPO being the Organization…

Amputated from its North as is the case in all the reports of the Bretton Wood institutions, sub-Saharan Africa will be the region of the world which will post the lowest growth in 2021. This is what the latest IMF report indicates. , published in April 2021 with, it must be said, a pessimism still in place but, we are pleased, attenuated compared to the alarmism of October 2020 of the said organization. According to the IMF, between the southern edge of the Sahara and Cape Town, the GDP contraction was 1.9% in 2020, significantly better than the -3% predicted…

On March 9, 2021, Moody’s agency upgraded Benin’s rating from B2 to B1. On April 11, this member country of the West African Economic and Monetary Union (UEMOA) held elections which will see President Patrice Talon re-elected in the first round with 86% of the vote. Does the vote marked by the call for a boycott by part of the opposition have an impact on the country’s rating? Here are the answers from Aurelien Mali, vice president of Moody’s and sovereign ratings analyst. What is your comment after the elections in Benin? Are there any consequences on the country’s rating?…

(1 dollars USD = 9,06 dirhams marocains). Sur l’exercice 2020, BMCE Bank Of Africa affiche une légère hausse de +1% du Produit Net Bancaire consolidé à 14 milliards de dirhams à fin décembre 2020 grâce à la progression de la marge d’intérêt de +5% et du résultat des opérations de marché de +3%. Toutefois, la banque de Ohman Benjelloun subit les contrecoups d’une année 2020 marquée par le Covid-19, avec un Résultat Net Part du Groupe en baisse de -62% s’établissant à 738 millions de dirhams et un recul de -47% du Résultat Net de la Banque à 724 millions…