Author: Adama WADE

Head of the U.S. Trade and Development Agency (USTDA), Nigerian-born lawyer Enoh Ebong was among 17 senior U.S. officials who were in Marrakech from July 17-20 2022, on the sidelines of the USA-Africa business meeting. Established in 1992, the USTDA promotes growth in developing countries, while creating American jobs through exports. What conclusions can we draw from this USA-Africa business meeting? The USTDA is a US government agency with a unique dual mission. We are a foreign aid agency that develops high quality sustainable infrastructure in emerging economies overseas. At the same time, we have a mandate to support American…

The appetite of investors is turned towards renewable energies, Fintechs and high-impact startups. This is what we see through this Focus on investments and exits of private equity funds in Africa produced with data from the African Venture Capital Association (AVCA). Amethis and IFC sell their stake in the Kenyan distributor Naivas to Proparco and...

A perfect illustration of the need for African powers to invest in trading and group purchasing to overcome the high cost of living A solemn photo taken on August 1 under the clichés of cameras around the world and a humanitarian cause highlighted. But the Razoni cargo ship, one of the first 5 to leave the port of Odessa thanks to the Russian-Ukrainian treaty obtained under Senegalese-Turkish auspices, has still not reached the port of Beirut. The Ukrainian ambassador stationed in the land of cedars had nevertheless invited the press and prepared the petit fours but had to cancel at…

While the talks between Ukrainians and Russians, conducted under Senegal-Turkish auspices, have enabled a first shipment of cereals from Odessa, Africa holds its breath and counts the days. The disruption of international supply chains, already weakened by the pandemic, has been compounded by the war in Ukraine creating a snowball effect on food and fertilizer markets, which are interdependent. In June 2022, the number of acutely food insecure people – that is, people whose short-term access to food has reduced to the point of putting their lives and means at risk livelihoods – reached 345 million in 82 countries, according…

In three years, BNP Paribas will have liquidated its holdings in 8 subsidiaries in Africa excluding Morocco, Algeria and South Africa. In Côte d’Ivoire, the sale process of the Banque internationale pour le commerce et l’industrie de la Côte d’Ivoire (BICICI), a subsidiary of the French group BNP Paribas, is in its final phase. The...

“Our success is based on strict adherence to the fundamentals of good governance” President of the Republic of Botswana since 2018, Mokgweetsi Masisi was one of the stars of the United States – Africa business summit which took place in Marrakech from July 18 to 21, 2022. At the head of the only African investment grade country ( A3 with Moody’s and BBB+ with S&P Global Ratings), this professor of social sciences has been able to maintain his country’s good reputation with foreign investors and the financial market in general by continuing in the tradition of administrative transparency initiated by…

Tunisie Telecom, BSA telecommunication and COMATEL announce the signing, on March 14, of an exclusive agreement with the company TELECEL Group for the sale of 100% of the shares of the company Mauritano-Tunisienne des Télécommunications (Mattel) Mattel is the first mobile operator in Mauritania to have launched the GSM service. Since its creation on May 11, 2000, the result of cooperation between Mauritanian and Tunisian economic operators, Mattel has always relied on the quality of its network, the professionalism of its staff, the leadership of its management team and proximity to its customers. Mattel is a major player in the…

On the eve of the meeting of African insurers, the Secretary General of CIMA, Blaise Abel EZO’O ENGOLO talks about the achievements of the Institution and the challenges to be met in terms of technological and financial innovation as well as communication. . You were elected a year ago and you took up your duties as Secretary General of the Inter-African Conference on Insurance Markets (CIMA) in April 2021. Could you tell us about this institution, particularly with regard to concerning the objectives and missions assigned to it? Thank you for this opportunity which allows me to provide you with…

The Regional Stock Exchange (BRVM) hosted on February 28, 2022, the listing ceremony of the bond loan “FTC Teyliom Immo 7% 2021-2028 (FTIMC.01). The public offering made it possible to raise 20 billion FCFA (30 million euros) at the rate of 7% over a subscription period spread out from May 20 to June 18, 2021....

The perpetrators of the three coups in Mali, Guinea and Burkina Faso have in common the attempt to legitimize their putschs by denouncing the failures of democratically elected presidents and the subjugation of their victims to the West. It’s true, neither Alpha Condé, who remained in power for more than ten years (a lost decade for Guinea), even less Ibrahim Boubacar Keita (7 years on the heights of Koulouba) or Roch Marc Christian Kaboré (tenant of the Koysam palace since 2015) have improved the standard of living of their citizens. Worse, they have for the most part seen corruption scandals…

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…