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Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, today announced that the current Group Chief Executive Officer, Ade Ayeyemi, will retire after he attains the age of 60, in accordance with ETI policy. The Board of Directors selected Jeremy Awori to succeed Ade Ayeyemi as Group Chief Executive Officer. The relevant effective dates will be communicated in due course.   Alain Nkontchou, Ecobank Group Chairman, thanked Ade for his immense contribution during his seven years at the helm of the Ecobank Group as Group CEO. He added that, “Ade can be rightly proud of his success in leading the implementation…

At a business reception launching its new name in Egypt, British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, announced its plan to invest $100 million in local startups over its  current strategy period and highlighted its ‘Innovation for Impact’ Venture Capital (VC)  summit. The DFI, which was formerly known as CDC Group, also reaffirmed its  commitment to strengthen its partnership with Egypt and increase climate finance to  support the country’s green growth.  The reception which took place at the British Embassy in Garden City, Cairo, was hosted by the Deputy British Ambassador, Qudsi Rasheed and…

Africa Adaptation Summit outlines 5-point “Adaptation Delivery Breakthrough” for the key UN climate conference in Egypt (COP27) this November and $55 million of new funding to mobilize over $5 billion in climate adaptation action projects for Africa African and global leaders joined the African Adaptation Summit at the Global Center on Adaptation, outlining the most critical elements of the global community’s response to the climate crisis that heavily affects Africa as the world’s most exposed region, two months ahead of the UN’s world climate conference at Sharm al-Sheikh, Egypt (COP27). Prof. Dr. Patrick Verkooijen, CEO of the Global Center on…

The EITI today welcomed OCP Group as its newest supporting company. As a leader in plant nutrition and the world’s first producer of phosphate-based fertilizers, OCP is the responsible custodian of the world’s largest reserves of phosphate. Phosphates are critical in the global economy. When processed, phosphate rock is used as a key element in fertilizers, food, cosmetics and electronics. The company is committed to embedding transparency in its corporate management systems and processes, as underscored in its statement of support: “We have a bold vision for a sustainable future. Our governance ensures we always act ethically, with integrity and…

The AfriCaribbean Trade and Investment Forum 2022 (ACTIF2022) successfully concluded in Bridgetown, Barbados, with a commitment by participants to remove the scars of the past and build a commercial bridge towards forging a prosperous future for Africa and the Caribbean.  In the communique presented at the end of the Forum, the partners pledged the concrete implementation of strategic partnership between the business communities in Africa and the Caribbean with the objective of fostering bilateral cooperation and engagement in trade, investment, technology transfer, innovation, transport, tourism, culture and other services. The signing of the Partnership Agreement between Afreximbank and seven Caribbean States…

The first-ever AfriCaribbean Trade and Investment Forum (ACTIF2022) opened today in Bridgetown, Barbados, with the African Export-Import Bank (Afreximbank) announcing that it would work with governments of the CARICOM to set up a Caribbean Exim Bank and that it envisaged committing an investment of $700 million in the Caribbean.  Professor Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, told participants at the opening that there had been tremendous progress in accelerating the membership of CARICOM (Caribbean community) nations in Afreximbank and that signature of a participant agreement would enable Afreximbank to operate in the Caricom region and deliver…

The OPEC Fund for International Development and the Eastern and Southern African Trade & Development Bank (TDB) are deepening their cooperation with the OPEC’s Fund’s latest commitment of debt and equity totalling USD 40 million. These recent investments in TDB aim to further strengthen the partnership and unlock synergies in support of sustainable development in Africa. A USD10 million Class B equity investment, the second since the OPEC Fund and TDB began their partnership in 2009, will support the bank’s capitalization and increase its financing capacity in TDB’s 22 member countries. Class B shares were introduced in TDB’s capital structure…

Africa-focused international law firm ASAFO & CO. strengthens its mining practice with the hiring of Daye Kaba, an international corporate finance and commercial lawyer joining the firm as a partner in Abidjan. Daye Kaba is triple-qualified, being admitted to the New York and Ontario Bars, and as a conseil juridique in Côte d’Ivoire. He focuses on corporate finance, M&A, and commercial law matters with a strong emphasis on the natural resources sector. He advises a broad range of public and private sector clients on complex international and Africa-based transactions, often involving innovative financing solutions and significant foreign investment components. Daye…

United Nations Under-Secretary-General and Executive Secretary of the Economic Commission for Africa (ECA), Vera Songwe, has stepped down, effective 1 September 2022, after five years of dedicated service to ECA and its Member States. Announcing her decision to step down during a town hall meeting on 22 August, Ms. Songwe thanked ECA staff for their team spirit and support during her tenure. “It has been a privilege to work with you and serve the whole UN system. I cannot express enough my appreciation for the support, encouragement, guidance, patience, and friendship I received throughout these years from you,” said Ms. Songwe. …

President Macky Sall’s bold leadership is vital for accelerating global action on climate adaptation ahead of the Africa Adaptation Summit on 5 September 2022, Dr. Patrick Verkooijen, CEO of the Global Center on Adaptation said in closing remarks at the Presidential Palace in Dakar, after a high-level meeting on Wednesday hosted by President Macky Sall of Senegal, Chair of the African Union. The Africa Adaptation Summit will convene global leaders at the headquarters of the Global Center on Adaptation (GCA) in Rotterdam, Netherlands, marking a milestone leading into the landmark ‘African COP’ at Sharm El-Sheikh in November. At the Summit,…

At the conclusion of the 8th Tokyo International Conference on African Development (TICAD 8) hosted in Tunisia, the United Nations Development Programme (UNDP) welcomes a comprehensive package of support from Japan to drive economic growth, digital innovation, green transition and create jobs as the continent grapples with a series of challenges that threaten to undo many of the development gains achieved in recent years. “The impacts of the global food, energy and finance crises are rippling through communities across the globe. These cost-of-living spikes are having a particularly pronounced effect on the Continent of Africa where millions of people now face…

Between 8 March and 25 July 2022, the Bolloré Transport & Logistics subsidiaries in Morocco, Mauritania and Mali pooled their expertise to organise a convoy of 30 trucks from Casablanca in Morocco to Bamako in Mali. This intra-African road transport operation, organised on behalf of an industrial group in the beverage industry, was completed in under two weeks over a distance of nearly 3,800 kilometres. The trucks arrived by ship at the Port of Casablanca before being transported to the customer’s site in Sénou in the suburbs of Bamako, having transited through Mauritania. The Bolloré Transport & Logistics teams were…

Over 1,500 delegates from 93 countries already registered for ACTIF2022 Bridgetown/Cairo, 30 August 2022 – The first-ever AfriCaribbean Trade and Investment Forum (ACTIF2022), being held at the Lloyd Erskine Sandiford Centre in Bridgetown, Barbados, from 1 to 3 September, will hear addresses from Barbados’ Prime Minister Hon. Mia Amor Mottley; President Chandrikapersad Santokhi of Suriname, Chairman of CARICOM; and Hon. Amadou Hott, Minister of Economy, Planning and International Cooperation, Republic of Senegal. They will be joined by a stellar cast of high-level speakers, including H.E. Professor Benedict Oramah, President and Chairman, Board of Directors of African Export-Import Bank (Afreximbank); H.E.…

The Islamic Solidarity Fund for Development (ISFD) has developed its new 2030 transformation strategy and identifiedHuman Capital Developmentas a core pillar for poverty reduction. On 8th of August 2022, Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, approved a US$ 41.7 million new project in Burkina Faso of which ISFD will contribute US$ 10 million in concessional loans. The project’s development objective is to support increased access of out-of-school boys and girls to gender-responsive, quality, and inclusive education. The program, focusing on those aged 9-12, covers Speed Schools which provide an accelerated education program as…

On 19 August 2022, SITARAIL took delivery at the Port of Abidjan of a new tamping-levelling-lining  machine worth 2 billion CFA francs (more than €3 million), for maintenance on the railway between Côte  d’Ivoire and Burkina Faso.  Presented at the recent International Exhibition for Track Technology (IAF) in Münster, Germany, this innovation is essential for positioning rails correctly and detecting infrastructure failures in order to restore the best possible track parameters. Designed by Austrian company Plasser & Theurer, the world leader in railway technology, this next generation equipment enables sleepers to be processed at a higher rate, and allows for…

Bolloré Logistics announces that it joined the Shippers’ Coalition for Low Carbon Maritime Transport last July. This association represents shippers whose goal is to encourage the industrial use of alternative propulsion solutions, such as wind-assisted propulsion1. Through this membership, Bolloré Logistics is providing its support to solutions that use wind-assisted propulsion, which drastically reduces CO2 emissions. The company is also signalling its determination to expand its range of services after the launch of SEAalternative2in 2021 to promote a sustainable supply chain. “Bolloré Logistics is a leader in global maritime transport. That is why it is essential that we play an …

23 August, 2022 – Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the launch of a crypto education hub in Yaoundé, Cameroon, in collaboration with Inoni Tech, a non-profit tech hub providing resources and trainings for young people across Francophone Africa. This is a first-of-its-kind crypto hub and will be a training center for in-person blockchain education sessions. Through this hub, Binance will equip crypto enthusiasts with more resources to thrive within the ecosystem as well as foster offline connections.  Located in the neighborhood of Bastos, 300 meters away from the Restaurant The Famous, the…

African Export-Import Bank (Afreximbank) has announced that Japan Credit Rating Agency (JCR) has affirmed its long-term issuer rating of A- and maintained the “Stable” outlook. The affirmation of Afreximbank’s issuer rating is testament of the Bank’s ever strengthening credit profile and positions to continue to expand and escalate its interventions in Africa, in whose long-term economic development it plays a pivotal role. JCR Rating Agency noted, in its assessment, the strategic role that Afreximbank’s current Sixth Strategic Plan (2022-2026) plays towards the Bank’s fulfilment and deliverance of its mandate, as well as its crucial work in support of initiatives aligned…

Recognition of the Fund’s 20-year track record mobilising long-term blended finance to deliver transformative infrastructure in sub-Saharan Africa.Rating affirms EAIF’s strong capital position, moderate leverage, diversified portfolio, and strong shareholder base.  Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF or The Fund), today announced that Moody’s has assigned EAIF a foreign currency long-term issuer rating of A2 with a stable outlook. EAIF mobilises public and private debt capital to deliver transformative infrastructure in sub-Saharan Africa. Since its establishment in 2001, up to December 2021, EAIF has closed 90 projects for a total investment of $2.1 billion, and mobilised…

Conspiracy inflation decreases conspiracy net worth… The president of the Malian transition has made one-upmanship with the international community his favorite hobbyhorse. It is a negotiation technique that consists of brandishing the absurd to get your interlocutor to renounce demands based on the rule of law. Thus, vis-à-vis the United Nations mission in Mali, MINUSMA,...

· Mr. Thierno-Habib Hann brings to the Company over 20-years experience in housing finance, capital markets and structured finance. Nairobi-based pan African housing development financier Shelter Afrique has appointed Thierno-Habib Hann as the new Chief Executive Officer to succeed   Mr. Andrew Chimphondah who left the company early this year. Mr. Hann currently serves as the Asia/Pacific Lead for housing finance at the International Finance Corporation (IFC), based in Bangkok, where he leads the strategy development and implementation of the housing finance program with a portfolio of over USD 2 billion. He previously held a similar position, in charge of Africa and the…

President Macky Sall is going to Mali this Monday, August 15, 2022, 72 hours after the 49 Ivorian soldiers detained for more than a month were charged and imprisoned for “undermining state security”. Bamako thus sets the bar high for negotiating with Côte d’Ivoire openly accused in a case, which is incredible: an attempt at destabilization according to the military garrison of Kati, headquarters of the junta. A story sewn with white thread, according to experts who follow the file closely. Abidjan believes that these soldiers treated as “mercenaries” by Bamako are regularly registered in the workforce of the Ivorian…

The Economic Commission for Africa (ECA) hosted an expert group meeting to discuss the development of African carbon credit markets, in particular building on work that ECA has led to support the creation of  a regional carbon registry and a harmonized protocol for issuance of carbon credits for countries of the Congo Basin Climate Commission. The session formed part of the “African Roundtable on Initiatives to Accelerate Climate Action and Advance the SDGs” from 2-4 August 2022. The Expert Group Meeting brought together experts from the Congo Basin Climate Commission to move forward with the project to establish as high integrity registry…

437 billion FCFA transferred to investors (667 million euros) Good news for investors holding debt securities of Mali on the financial market of the West African Economic and Monetary Union (WAEMU). The Ministry of Economy and Finance of Mali informed investors and technical and financial partners by a note dated August 12, 2022 that “all unpaid external debt, market debt by syndication and by auction , of the State of Mali has been settled”. These settlements restore confidence between Bamako and its creditors. It is 6 months of arrears that have just been paid off. In detail, the Public Treasury…

Terminal Roulier d’Abidjan (TERRA), which provides of handling and activities related to  ro-ro ships at the Port of Abidjan, received the “Green Terminal” label issued by Bureau Veritas. This  attests to the significant reduction in the environmental impact of its activities.  TERRA has been committed to this certification process since October 2021, focusing its efforts around a number of aspects: in particular, employee awareness of and involvement in environmental issues, implementing actions to reduce paper and plastic waste, optimising water and energy use, and sound management of the allocation of handling equipment. “TERRA is proud to receive the Green Terminal…

Visa Inc. (NYSE: V), the leading global payments technology company, has outlined its commitment to expanding digital payments in the Democratic Republic of Congo by establishing local business operations and working closely with the government and financial ecosystem to bring the benefits of digital payments to consumers, merchants and partners. Visamarkedthe official opening of its Kinshasa office and a series of partnerships in the Democratic Republic of Congo during a visit by Al Kelly, Visa’s Chairman and Chief Executive Officer. With only a quarter of the DRC population estimated to be included in the financial ecosystem, Visa brought together stakeholders …

The research, carried out by crypto price tracker CoinGecko, examined Google Trends data of search terms frequently used by people interested in cryptocurrency. These terms were then combined to give each English-speaking country a ‘total search score’ to discover which countries have been the most interested in cryptocurrency since the market crash in April 2022....

Africa Development Solutions (ADS) Group, a high-impact pan-African multinational active in more than 20 countries and 7 sectors, officially launched its subsidiary West Africa Commodities (WAC) dedicated to the trading and processing of agricultural products. Committed to the local transformation of African resources, the Group’s ambition is to become a major player in the trading, production, and sale of raw materials in West Africa. Based in Côte d’Ivoire, one of the continent’s agricultural powerhouses, West Africa Commodities (WAC) is a joint venture between ADS Group and Prime Prestige Import-Export, a company founded by Ivorian agribusiness entrepreneur Mohamed-Adnane ACHIROU. It aims…

The Eastern and Southern African Trade Fund (ESATF) is an open-ended collective investment fund domiciled in Mauritius and regulated by the Financial Services Commission (FSC). The fund was launched in 2019 to advance trade-led economic and social development via the financing of short to medium-term trade transactions in TDB Group member states and other select African economies, including those of SMEs. ESATF is managed by Eastern and Southern African Trade Advisers Limited (ESATAL), a fund manager also regulated by FSC, which until recently, was jointly owned by the Eastern and Southern African Trade and Development Bank (TDB) and GML Capital LLP (GML…

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