Author: Editor

The Mauritanian Bank for International Trade (BMCI) has partnered with TagPay to roll out its digital bank Masrvi, aimed at providing digital, value-added financial services to its customers. Powered by TagPay, Masrvi was launched at the end of April and responds to Mauritanians’ banking needs by providing secure and accessible banking services, across the country through mobile networks, whilst offering convenience. Masrvi enables BMCI to provide its customers with secure, simple, fast, and easy-to-access banking products and services that can be tailored to their needs, all with a convenience that traditional banks cannot match. Moulay Abbas, President of BMCI says:…

To support the Rwandan health system, the Eastern and Southern African Trade and Development Bank (TDB) is pleased to announce the financing of the expansion of Kigali’s King Faisal Hospital (KFH)’s outpatient facilities with over USD 14 million in a 6-year primary forfeiting transaction. King Faisal Hospital (KFH) is a multi-specialty 160-bed quaternary hospital providing a range of specialized health care in Eastern and Central Africa. In addition to the new outpatient clinic and doubling of the hospital’s outpatient facilities capacity to 45 consultation rooms, TDB’s financing will support the renovation and construction of the outpatient block’s education and research centre, day…

The Southern African Development Community (Sadc) will appoint in August 2021, at the next summit of Heads of State and Government, a new Executive Secretary to replace Stergomena Lawrence Tax whose term expired in August 2020. Indeed, according to the principle of rotation in force in the organization, the DRC is the only statutory member still having its quota intact to submit a candidacy for this position. It is in this context that the Government of the DRC made public on January 21, 2021 through the intermediary of Mrs. Marie Tumba Nzeza, outgoing Minister of Foreign Affairs, the decision to…

The Board of Directors of the African Private Equity and Venture Capital Association (AVCA) is pleased to announce the appointment of Kofo Sanusi as Chief Operating Officer (COO). Kofo joins AVCA from Founders Factory Africa (FFA), a venture development company investing in start-ups in sub-Saharan Africa. As Chief Operating Officer and Accelerator Director, she was responsible for overseeing the company’s financial and operational activities and leading investments and support to early-stage start-ups to scale across Africa. Abi Mustapha-Maduakor, AVCA CEO, said: “Kofo is the right person to support the Association as we implement the strategic vision and continue to deliver…

Kribi Conteneurs Terminal (KCT) received five new yard gantries on 10 May 2021.  With a 50-tonne lifting capacity, the new equipment will further boost the growth in traffic at the Port of Kribi. In 2020, KCT posted a 56.27% increase in handling volumes. The five Konecranes gantries provide KCT with additional handling capacities at the Kribi container terminal. They will optimise the use of the container storage park and improve processing times for trucks unloading and loading containers. The new equipment strengthens KCT’s policy on operational excellence to the benefit of partners, ship owners, road transport firms, and users…

Valletta, Malta. Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is proud to announce that Akdital Holding, one of its partner companies, owns Ain Borja, the Casablanca clinic that assisted the birth of nine babies by a Malian woman. In 2019, Mediterrania Capital III invested in Akdital Holding to help strengthen the group’s foundations and consolidate its leadership while making top-quality healthcare services more accessible to larger portions of the population. Founded in 2011, Akdital began operations with the Jerrada Clinic in Casablanca and since 2018…

Hon. Khadija Mohamed Diriye, Minister of Humanitarian Affairs and Disaster Management, Federal Republic of Somalia with ARC and AU representatives after the signing of the Treaty at the AU Headquarters, Addis Ababa, Ethiopia. The Government of the Federal Republic of Somalia has signed the Treaty and a Memorandum of Understanding (MoU) with the African Risk Capacity (ARC) to work together towards helping the country better prepare, plan and respond to extreme weather events and natural disasters. The ARC Treaty and MoU were signed in Addis Ababa, Ethiopia by Hon. Khadija Mohamed Diriye, the country’s Minister of Humanitarian Affairs & Disaster…

The Tunisian startup specializing in Ed-Tech – GOMYCODE announces is now present in Lagos – Nigeria. Through an educational platform forming the next generation of technological and digital profiles and connecting them with the companies that build the world of tomorrow, GOMYCODE aims to become one of the largest tech and digital communities in Africa and the Middle East. Launched in 2017 by Yahya and Amine Bouhlel, GOMYCODE now has more than 80 talents with diverse profiles among its employees and a network of over 100 trainers across the Hackerspaces of Tunisia, Algeria, Morocco, Bahrain, Egypt, Paris and now Lagos.…

The Tunisian startup specializing in Ed-Tech – GOMYCODE announces its expansion by opening in Cairo – Egypt. Through an educational platform forming the next generation of technological and digital profiles and connecting them with the companies that build the world of tomorrow, GOMYCODE aims to become one of the largest tech and digital communities in Africa and the Middle East. Launched in 2017 by Yahya and Amine Bouhlel, GOMYCODE now has more than 80 talents with diverse profiles among its employees and a network of over 100 trainers across the Hackerspaces of Tunisia, Algeria, Morocco, Bahrain and now Egypt. Based…

The funding will allow the Californian-based startup to develop its computer engineering training solutions for universities, training centers, and companies on the African continent. SAN FRANCISCO, April 15, 2021 – Holberton, making software engineering education affordable and accessible globally, announced today that it has raised $20 million in Series B funding led by Redpoint eventures with new investor Pearson Ventures and participation by existing investors Daphni, Imaginable Futures, Reach Capital and Trinity Ventures.   Holberton works with institutes in several African countries including Tunisia, Madagascar, and Morocco, which have trained thousands of learners. The group’s ambition is to help more than 500,000 students in Africa gain access to first-rate education…

Harvest Asset Management, leader in asset management in the CEMAC Zone, launches the FCP HARVEST ACTIONS CEMAC, the 1st UCITS (Collective Investment Body for Securities) fully invested in local companies listed on the regional financial market and also in companies unlisted established in the CEMAC zone. The purpose of this product is to easily provide investors with long-term capital growth while supporting the economy and businesses of Central Africa. Approved in March 2021 by the central African financial market regulator COSUMAF, the HARVEST ACTIONS CEMAC FCP is a product in the “Equities” category available to any natural or legal person,…

Mr. Serge Ekue, President of the West African Development Bank held today a virtual press conference to review his achievements after the first six months at the helm of the institution. He announced a volume of funding of about XOF3.3 trillion (€5.03 billion) for WAEMU countries as part of  Plan Djoliba 2021-2025. This meeting with journalists from the African, European and international press was an opportunity for President Serge Ekue to go over his achievements in a few figures, to discuss development issues and challenges facing member countries and the Bank’s commitments over the next five years. First 6 months:…

Several thousand tons of fertilizer shipped from Morocco to Ethiopia in these pioneering deals of nearly $ 400 million. The Trade and Development Bank of East and Southern Africa (TDB) and OCP Group, the world’s largest phosphate producer and world leader in the phosphate fertilizer market, are pleased to ” announce $ 400 million in business transactions conducted via blockchain technology, with $ 270 million already executed, with the remainder expected over the next few months. The OCP Group thus becomes the first African company to execute an intra-African commercial transaction using blockchain technology. This transaction helped finance the shipment…

Created on the initiative of Nicolas Jean, partner and member of the executive committee of the law firm Gide, and of the independent consultancy firm for the States Global Sovereign Advisory (GSA), A new ROAD is the first think tank dedicated to public debt African. The think tank is made up of members, of different nationalities, generations and industries, with rich and multiple backgrounds, all united in the service of two common objectives: to change the paradigm concerning the questions of financing of the economies of the continent and to propose a framework reflection on the treatment and structuring of…

The economic and financial press provides financial information at the base of the anticipation decisions of economic agents. This is the final conclusion to remember from the Economic and Financial Press Forum which just took place on March 25 and 26, 2021 in Abidjan. Organized by Michel Russel Lohore, Journalist, Member of the Club de la Presse de Lille (France), Winner of the 2019 National Award of Excellence for the Development of Communication in Côte d’Ivoire, this mass focused on the role of the information in the structuring of an economy or a market. The law is the same for…

Bolloré Ports has placed an order for two mobile port cranes which will strengthen the handling capacities of Tincan Island Container Terminal Limited (TICT) in Lagos. They will enable the container terminal to support the growth in volumes of Nigeria, the leading country in the African economy. TICT’s new mobile cranes, Konecranes Gottwald Model 7, will be equipped with a new generation power supply system that will significantly reduce CO2 emissions as well as energy consumption. “The mobile cranes ordered for TICT under its investment program are helping to provide Nigeria with a quality port platform. As soon as they…

To be continued on Tuesday March 30 from 10am GMT on the financialafrik.com, YouTube and Facebook websites. On the occasion of the release of his book “The Bank Explained to All – Focus on Africa”, published by RB Edition, Mamadou Sene engages in the game of questions and answers with Adama Wade, publication director of Financial Afrik. Member of the board of directors of CBAO Groupe Attijariwafa bank, former Managing Director of Société Financière d’Équipement au Senegal, Bank of Africa-Niger, Bank of Africa-Mali and Orabank Guinea, in his book Mr. Mamadou Sene reviews key concepts of the banking industry in…

In an effort to help member states gain access to a facility that will boost their short-term liquidity and boost longer-term growth, the Economic Commission for Africa (ECA) has partnered with PIMCO, a company asset management, to set up a Liquidity and Sustainability Facility (LSF) that would reduce governments’ borrowing costs by increasing demand for their sovereign bonds. This will be achieved by allowing existing sovereign bondholders to deposit these instruments as collateral for low-interest loans funded in part by a new issuance of Special Drawing Rights (SDRs). The resources mobilized through such repurchase agreements will then be used to…

Once again, SUNU Bank takes a new step in Togo with the introduction of a new feature in its product: WhatsApp Banking. This is the instant credit simulation allowing you to know your borrowing capacity for online credit. A year ago, SUNU Bank revolutionized the Togolese banking market with the launch of WhatsApp Banking. Thanks to this service, you no longer need to go to a branch for banking operations. The customer has direct access from his phone via the WhatsApp application to several features such as checking their bank account balance, the history of the last ten transactions on…

The government of Togo is also committed to unblocking its capital arrears. The pan-African housing development finance institution Shelter-Afrique has received US $ 2 million (€ 1,724,397.54) from the government of Mali, being the full settlement of its capital subscription arrears. Mali becomes the fifth shareholder to fully settle Shelter-Afrique’s 2013 and 2017 calls for funds after Zimbabwe, Lesotho, Morocco and Namibia. The move comes days after the Togolese government pledged to pay for its capital subscription, which currently stands at US $ 103,000. In addition, the government of Togo is in talks with Shelter-Afrique to increase its capital subscription…

Kinshasa, Democratic Republic of Congo, March 19, 2021. BGFIBank RDC formally denies the erroneous information disseminated yesterday and today on social networks and taken up by some online media. Contrary to what has been claimed by some bloggers and online media, without prior verification, no BGFIBank RDC executive has been guilty or complicit in a money laundering operation. BGFIBank RDC recalls that in December 2020 it obtained the AML 30000 certification, a prestigious certification designed to combat money laundering and the financing of terrorism and that under this new dynamic the Bank maintains a privileged relationship with CENAREF and all…

African countries are looking for inventive ways to close the annual development finance gap of US $ 92.8 billion to implement the 2030 Agenda for Sustainable Development, achieve Agenda 2063 and update the Accord. Paris as well as responding to the COVID-19 crisis while addressing increasing levels of inequality. This is the special message sent this Thursday to delegates attending the expert meeting of the 53rd Conference of Ministers (COM), in Addis Ababa by Nassim Oulmane, Head of the Green and Blue Economy Section, of the Division of Technology, Climate Change and Natural Resource Management, ECA. Mr. Oulmane, who presented…

Until then director of Citi in Senegal, Pape Sall was promoted to head of the West and Central Africa (WCA) division, subject to regulatory approval. As head of WCA, Pape will lead the overall franchise, including driving Citi’s business and client strategy. The Senegalese banker will also support the transformation of the bank by ensuring that the appropriate control environment is in place in WCA. Papa will report to Akin Dawodu, head of the sub-Saharan Africa division. Pape Sall has over two decades of banking experience and has held various positions at Citi over the past 13 years, including Country…

Depuis le 1er mars, les foyers ivoiriens et sénégalais équipés d’un kit solaire de Baobab+ peuvent acquérir un smartphone en bénéficiant d’une facilité de paiement. Une initiative pionnière permise grâce au partenariat entre cette entreprise qui accompagne les foyers et les micro-entrepreneurs dans leur autonomie énergétique et leur digitalisation et Samsung, le géant coréen de l’électronique. C’est une nouvelle étape dans la volonté de Baobab+ d’élargir l’accès des Africains aux services numériques. Après la vente de kits solaires selon le système du « Pay as you go » (paiement progressif) au Sénégal, en Côte d’Ivoire, au Mali et à Madagascar depuis 2015…

The Economic Commission for Africa on Wednesday urges African countries to adopt policy measures that encourage green investments aimed at increasing productivity to facilitate a sustainable recovery from the coronavirus crisis and achieve sustainable industrialization. This is what Hopestone Kayiska Chavula, acting as the Section of Macroeconomic Analysis, Division of Macroeconomics and Governance, ECA, said at the start of the 39th meeting of the Committee of Experts of the ECA. ECA, of the Conference of African Ministers of Finance, Planning and Economic Development. Mr Chavula, in his report focusing on recent economic and social developments in Africa, argues that countries…

The State of Cameroon is preparing to allocate 50 billion, over five years, to the benefit of national cocoa and coffee producers. Administrator of the Coffee and Cocoa Sectors Development Fund (FODECC), Samuel Donatien Nengue unveils the main features of this new financing vehicle. What is the origin of the subsidies that will be allocated to producers? It should be noted from the outset that the Fund’s resources come from the export levy on cocoa and coffee, products resulting from fines resulting from the export of poor quality products, various contributions, donations and bequests of any kind. . These resources…

The African Development Bank Group is pleased to announce the appointment of Ms. Atsuko TODA as Acting Vice President, responsible for Agriculture and Human and Social Development, effective March 16, 2021. A Japanese national, Atsuko is a seasoned professional who has over 20 years of experience serving international institutions. She joined the Bank in December 2016 as Director of the Agricultural Finance and Rural Development Department. In her current role, she oversees the Bank’s investments in private sector agribusiness enterprises, the integration of disaster risk financing, and the development of special agribusiness transformation zones on the African continent. Atsuko brings…

On the occasion of International Women’s Rights Day, the employees of Bolloré Transport & Logistics made a donation, on March 16, 2021, to the association of disabled women of Leboutou (AFHL) in Dabou, 50 kilometers from Abidjan , several equipment intended to facilitate the production of attiéké, an income-generating activity. This cooperative brings together nearly a hundred women aged between 21 and 60 years old and whose disabled situation hinders the speed of the process of transforming the raw material into the finished product, with a view to its commercialization on the local market. Composed of cassava grinders, creek presses,…

(1dollar USD = 549.93 CFA Franc). The profit of the Ivorian Cable Company (Sicable CI, code CABC), a member of the Prysmian Group, world leader in electric cables, increased sharply by FCFA 528.706 million (€ 793,059) at the end of the 2020 financial year compared to the previous year, announced the leaders of this Abidjan-based company. This profit stood at 1.166 billion FCFA against 637.951 million FCFA as of December 31, 2019, an increase of 82.87%. At the BRVM, Sicable CI (CABC), down -3.48% on the March 15 session, is on an annual uptrend of 38%. Regarding the turnover of…

The five member countries of the G5 Sahel – Burkina Faso, Mali, Mauritania, Niger and Chad – call for a deep restructuring of their debt in order to allow them to continue to meet the urgent and legitimate expectations of their populations in terms of security and development . In a declaration adopted after their 7th Summit organized on February 15 and 16, 2021 in N’Djamena, the capital of Chad, the five Sahelian countries believe that the moratorium on the debt of the poorest countries decided in April 2020 by the G20 does not is not enough. “The heads of…