Author: Adama WADE

When, after years of good and loyal services in the Gambia, in the hospitality sector, Mory Guéta Cissé (MGC) decided to return to his native Mauritania to, he enthused, make his contribution to the building, he did not suspect what was waiting for him. Instead of marking the ground, the State has sowed pitfalls without rational explanations. After 18 years, it’s finally, we dare to believe, the end of the tunnel. Mory Guéta Cissé, her precious sesame in hand, told Financial Afrik hot. Interview.   F.A. Our congratulations for the signing of the Decree granting you the definitive enjoyment of the…

The Banque Centrale Populaire (BCP) has just taken a majority stake in Wizall, a Mobile Money player with Total Sénègal among its shareholders. This acquisition, which meets a well-defined strategy, makes Senegal the backbone of BCP’s Mobile Banking strategy in Sub-Saharan Africa. “M-Banking’s operations, including money transfer and payment activities, will be provided by our subsidiaries Wizall, a mobile money player, and ATPS, a financial services aggregator and a proximity agent network operator” said Kamal Mokdad, director general of the BCP in charge of international development, traveling to Dakar on December 4, 2018, at the head of a large delegation…

Insurer Sunu has just celebrated its 20th birthday. It was December 1, 2018 in Dakar on the sidelines of a colorful ceremony marked by the presence of delegations representing the 24 subsidiaries from the 15 African countries where the group is located. Strategic partners were also involved. The choice of Senegal for this jubilee is not trivial. It is in this country where everything started in 1999 with the takeover of CSAR-Vie, now Union of Insurance of Senegal Life (UASEN-Life), evolving today under the Sunu label like all the subsidiaries of the group. But the real starting point of this…

The provisional allocation, on October 23, of the water distribution contract in Dakar (Senegal) to Suez to the detriment of the French-Senegalese SDE (57.8% owned by the Eranove group, the rest by various local interests ) and Veolia is making waves. As soon as the decision was notified, SDE, which has been managing the leasing contract since 1996, and Veolia, a major challenger, have filed two gracious appeals. The two reserves tabled separately Friday (October 26th) with the Minister of Hydraulics and Sanitation, Mansour Faye, were rejected Wednesday, October 31 by mail bearing the signature of the said minister. A…

After more than 15 years of experience in the investment banking and financial sector in London, Lynda Aphing-Kouassi, General Manager of Kaizene, has only one ambition: to put her expertise at the service of Africa. Thus, since its return, about 4 years ago, the Ivorian financier organizes every year, through its consulting firm, an innovation forum dedicated to the promotion of better technical and financial solutions in terms of infrastructures in Africa. For this year, the Rwandan city of Kigali, a reference economic model par excellence, was chosen to host this event aimed at creating a synergy around the development…

To promote “agency banking” in rural areas, the United Nations Investment Agency (UNCDF) organizes since Thursday, October 4 in the region of Kaolack (200 km from Dakar) its third session of the year 2018, relocated to rural areas through its MM4P program. In partnership with the MasterCard Foundation, this session has seen the participation of digital financial service providers, representatives of institutions such as the BCEAO, ECOBANK, regulators and issuers of electronic money. This rural working group aims to address the issues of “Agency Banking” and enable low-income people to access the new opportunities offered by digital financial services to…

The market had anticipated it. The Nigerian Stock Exchange (NSE) finally suspended Skye Bank on Monday, September 24, 2018. This was a logical consequence of the revocation of the Bank’s license by the Central Bank of Nigeria (CBN) on Friday, September 21st. Is the intervention of the regulator maintaining and the management and the board...

The Currency Exchange Fund (TCX) has contributed to the mobilization of nearly $ 200 million of offshore bonds issued in emerging currencies, particularly in Africa since the beginning of the year. The peculiarity of this fund based in the Netherlands, is to hedge the currency risk in currencies where banks do not intervene. “Apart from...

By Adama Wade. The wave of IPOs on the BRVM side of banking entities has generated a real enthusiasm in the last few years among both institutional and individual investors. On the occasion of these IPOs, some banks have, it is true, made valuations by the method of multiples of significant equity, 2.9 to 3 times for the highest. But it is important, by analyzing more closely the performance of these securities once quoted, to make a clear distinction between the operational banking entities (BICICI, Ecobank Ivory Coast, SGBCI, Coris Bank, etc.) and the holding companies. banking groups, the…

Envol Immobilier achieved the feat of delivering, on May 2, the first ministerial city of the new city of Diamniadio, located 35 kilometers north of Dakar, capital of Senegal. With its expertise, its technical capabilities and its regional influence, the group has signed, on September 10, 2018, an important contract with the State of Côte d’Ivoire for the construction of the university campus of the city of San Pedro . To learn more about its activities and prospects, Financial Afrik went to meet Madani Maki Tall, Chairman of the Board. You just signed an important contract for the realization…

The suspense is lifted to Senegalese reinsurance. Sen Re separated from his deputy director, Adama Ndiaye, who had submitted his letter of resignation on August 16 for “personal propriety”. The Board of Directors of the Senegal Reinsurance Corporation (Sen-Re), led by Omar Sarr, took note of the resignation on Monday (September 3rd). Attempts to return...

Based in Cape Town, South Africa, Guillaume Doane is the CEO and co-founder of Africa Oil & Power (AOP), the continent’s leading forum for energy development and discussions. This year, the third edition of Africa Oil & Power’s annual forum brings together top African leaders from the oil and energy sectors in Cape Town from September 5 to 7.

The African Export-Import Bank (Afreximbank) hasreleased its unaudited financial statements for the half-year period ended 30 June 2018, showing gross revenue of $343 million. The figure represents a $21 million increase over the gross revenue for the same period in 2017. The results, released by the Bank in Cairo today, attributed the higher gross revenue to a significant increase in fee income by 119 per cent while interest andsimilar income recorded a 2 per cent growth compared to prior year performance. The Bank’s attributable earnings over the six months also amounted to $110 million, beating the budget by 34 per…

Professor Samir Amin, director of the Third World Forum, died Sunday, August 12, 2018 in Paris at the age of 87 years. A loss for the world of economy and the progressive circles of North and South. “A Baobab fell,” writes Professor Saliou Sy of the Dakar School in tribute to the Franco-Egyptian economist who had resided in Senegal for more than 40 years. Associate Professor of Economics, Samir Amin, born in Cairo in 1931, upset the world of development economics with his huge book entitled “Unequal Development. Essay on the social formations of peripheral capitalism, Paris, Ed. “Midnight”, published…

Jovial Imbeh Serge was born in 1978 in Antananarivo, capital of Madagascar. After primary and secondary studies in his native country, he enrolled at the doctoral school of Toulouse (France) in the field of Ecnomy and Finance. His career began in Luxembourg in the field of finance and in Madagascar where he has a career of ten years. Candidate for the next Malagasy presidential elections of November 7, 2018, he explains to Financial Afrik the meaning of his commitment. Exclusive. Why does a young banker find himself in the political arena rather than continue his rich career and accumulate bonuses…

The two-year dispute with the Paris-based International Center for the Resolution of Disputes and Investment Disputes (ICSID) has seen the Mauritanian state’s dispute with Tamagot Bumi and Bumi Mauritania unfold. The court condemns Bumi to pay 3, 3 million euros to the Mauritanian state for abusive procedures. In this case, Mauritania was defended by Eric Diamantis, Pierre Ferroud and Jamal Taleb of Clyde. Opposite, Bumi had opted for the tandem Laurent Jaeger and Pascal Agboyibor from Orrick. The knot of the case In fact, the lawyers who defended Mauritania established that Bumi Mauritania had been sold by the Abeidina family.…

The Malian presidential elections of July 29, 2018 reveal the state of decomposition advanced economic and political field of this region of the Sahel. In all, 24 candidates vie for the supreme office without clear ideological or programmatic demarcation. It seems that the classic lines of left-right, progressive-conservative, liberal-communist lines no longer work in the...

In a world where standardization and standardization of ideas and behavior is the rule, Nelson Mandela symbolized rejection. This dull voice, proof of life and humanity, beats in us and we stifle every day in our heart for the needs of the career. Adama Wade Because we must not appear singular or “extremist”, modern man has entered an era of submission to the single thought and standardization of behavior, harmonization of positions and scrubs accents.   Mandela was one of those few who said “no” and persevered in the fight to make the common good triumph. However, in Africa,…

This is the highlight of the opening on July 11, 2018 in Abuja, general meetings of Afreximbank. The intervention of President Cyril Ramaphosa set the tone for the work of this institution born 25 years ago to boost inter-African trade. Indeed, it is time for integration with the signing of the treaty of the Continental Free Trade Area (ZLECA) March 21 in Kigali by 44 countries and 49 at the end of the last summit of the African Union held in early July in Nouakchott . So far only 6 countries have ratified the treaty. Nigeria is leaving the latest…

MATHEMAINEER AND CHEMIST OF TRAINING, THIS HEAD OF STATE, ANCIENTLY MINISTER OF LIVESTOCK, HAS NOT THE FLOWERED VERB OF A CONDATED ALPHA, THE REVOLUTIONARY REHORIC OF MADURO BUT, SURE SAID, THE DETERMINATION OF A MAO FOR FACE THE OBSTACLES AND REFORMISM OF AN ATTATÜRK TO FORCE THE DESTINY. There is currently one of the 54 African countries, a head of state that intrigues. This leader who speaks little has cut his salary from $ 100,000 to $ 7,000 a month, jostling ministers and collaborators. Located between the spectacular populism of a Nana Akufo-Addo and the martial pragmatism of Paul…

For its third edition held on 21 and 22 June 2018, the Africa Convergence forum organized by the electronic site “Tribune Afrique” has left its comfort zone in Casablanca for the steep cliff of the Pullman hotel in Dakar. The debates were rich and, beyond the themes that express the anxiety of the hour (water stress), the eternal African challenge (growth, unemployment and demography), the very fashionable “technological innovation”, or the contours of the Moroccan Soft Power, the event had (and this is what we liked) a more business than political character. The general theme, at first glaring of the…

Ejected from the Doraleh terminal on February 22, 2018, DP World has since conducted three offensives under the interested gazes of Beijing and Washington....

The Chairman of the Regional Council of Public Savings and Financial Markets (Crepmf), Mamadou Ndiaye, accompanied by a representative sample of financial market players, faced Monday, June 4 in Dakar, the students of the African Center of Postgraduate Studies in Management (CESAG), Institute of Excellence of the Central Bank of West African States (BCEAO). The meeting that took place as part of the financial education campaign launched by the Financial Market Constable was an opportunity to present the BRVM in its regulatory architecture oriented towards the protection of investors, its various compartments, its issues (1,300 billion FCFA for the year…

By Adama Wade, Special Envoy to Busan. If all agree on the development of Africa, some like the president of the World Bank are quite reserved on industrialization. He uses nuance, Jim Yong Kim. But the president of the World Bank is nonetheless firm. The industrialization of Africa must be conditioned by the creation of...

Adama Wade, Busan, South Korea. These will not be the first meetings of the African Development Bank in terms of record attendance. But, certainly, these meetings opened this May 23 in Busan, 2 hours of TGV of the Korean capital, Seoul, will constitute a powerful viaticum for the African political decision-makers in charge of the development. It is almost impossible to seize this industrial model of a country that had a GDP per capita of half that of Ghana in 1960 without questioning the flat trajectories of African economies, best students of the World Bank and the IMF by their…

As announced, the Board of Directors of AGF West Africa, meeting on May 8, proceeded to the appointment of Mrs. Adidja ZANOUVI, as General Director of the structure to replace Mr. Franck ADJAGBA, now Assistant to the Director of Operation of the Group within the African Guarantee Fund in Nairobi. In the wake of these important changes, Financial Afrik spoke with Mrs. Adidja ZANOUVI. Synthetic answers. Exclusive. -What can we remember from the board of directors that has just been held in Abidjan? Three important decisions were approved during this Board meeting: The Change of the name of the…

Christian Abaka succeeds Adnane Chmnanti, head of BOA Capital Securities. Exclusive. The appointment made during the last board meeting of the banking group dedicated the promotion of a young banker, previously CEO of Sogespar (subsidiary of Societe Generale de Banques in Côte d’Ivoire dedicated to the management of collective investment schemes in securities Securities on...

The accident that cost the life of a famous Senegalese artist, May 5, revives the debate on the theater of the drama, namely the toll motorway linking Dakar Blaise Diagne International Airport. The lack of lighting over a good part of the journey, because of the collision of the vehicle of the artist in question with a cow, is pointed out by many users and by the press. To cut short the controversy, Gerard Senac, CEO of Eiffage, the company concessionaire infrastructure for 30 years (the contract runs until November 30, 2039) goes up to the niche and announces quick…

This is how the largest acquisition of all time in the African insurance industry has taken place. The takeover of Saham Finance, Saham Group’s insurance division, was predictable. For two years, the South African group had managed to rise to a level of 47% of capital, following a two-stage acquisition. As a result, it was...

No, it’s not played yet. The award of the 2026 World Cup will not be settled on the green carpet, far from prying eyes by a FIFA executive committee which, in the days of the Swiss Joseph “Sepp” Blatter, decided life or death. The rules have changed. And, with the fall of the football business monument, a new team took over. A new team led by Italian Gianni Infantino, former president of UEFFA, the European football federation, hard core, if any, of FIFA. This new team will have to arbitrate between the candidatures of Morocco and the whole USA, Mexico,…