Author: Editor

Abidjan, Ivory Coast, March 15, 2021 – The African Development Bank Group (“AfDB”) issued a sanction decision on February 2, 2021 against Mitsubishi Heavy Industries, Ltd. (“MHI”). This decision comes within the framework of the 1300 MW Abu Qir steam power plant project (hereinafter the “project”) in Egypt. On January 15, 2008, the Bank entered into a loan agreement with the Arab Republic of Egypt for the partial financing of the project, the overall objective of which was to improve the supply of electric power in Egypt. MHI, as a member of a consortium, submitted an offer and was awarded…

In this time of pandemic, the women of sub-Saharan Africa have shown extraordinary resilience more than ever. In the face of adversity, the strength and intelligence of African women have enabled the continent to hold out, proving once again that investing in them is essential, that women’s economic empowerment is the key to prosperity for all. This question will be at the heart of the webinar that the World Bank and AllAfrica Global Media, world leader in the distribution of information from Africa, are co-organizing on Monday, March 8, 2021 on the theme: “COVID-19, Revealer of the Incredible Resilience of…

The President of Niger has shown exceptional leadership and respect for democracy in the face of an unprecedented array of challenges The 2020 Ibrahim Prize for Excellent Leadership in Africa has been awarded to the President of Niger, Mahamadou Issoufou. The Mo Ibrahim Foundation announced the award today, following a meeting of its independent Award Committee. President Issoufou served two presidential terms, from 2011 to 2020. He is the sixth recipient of the Ibrahim Prize, which rewards and celebrates excellent African leadership. The Ibrahim Prize aims to recognize outstanding leaders who, during their tenure, have developed their country and strengthened…

Converted into the private sector at the head of his company Parnasse International, Dominique Strauss-Kahn “DSK” has just completed a mission in Benin. In the economic capital Cotonou, the former CEO of the International Monetary Fund (IMF) from 2007 to 2011 attempted to obtain a mandate from the Beninese authorities for advice on debt management...

The Mauritanian Electricity Company (Somelec) expanded its organization chart on February 25, 2021. It has six central departments, thus increasing the number of director positions from eleven to nineteen, apart from director positions. general and deputy general manager. The number of advisers’ posts increased from six to eleven, and those in charge of missions from six to ten. The split of the company into two independent entities (electricity production and transmission company and electricity distribution and marketing company) scheduled for September 2021 would be at the origin of this new organization chart. The “revolution” gives pride of place to a…

Accused of being at the base of the violent demonstrations of recent days after the proclamation of the results of the presidential election by the Independent National Electoral Commission (CENI), the leader of the opposition party Moden Fa Lumana, Hama Amadou (ally of Mahamane Ousmane), was heard by a judge, and was the subject this Monday, March 1, of a committal for the prison of Filingue located north-west of Niamey, about 183 km from the capital. For his part, retired army general Tchianga Boureima has been transferred to Ouallam prison. The presidential candidate in the first round, Djibrilla Baré, was…

SouthBridge Investments (SBI) and New African Capital Partners (NACP) are proud to announce the launch of their joint venture: SBNA. SBNA will act as a “permanent capital fund” with the mission of attracting investors with a long-term vision for Africa. The joint venture wants to invest in the future of the continent by mobilizing “long capital” and by focusing in particular on FinTech, financial sector integration, microfinance and mesofinance. Charles Kié, CEO and co-founder of New African Capital Partners, will preside over the destinies of SBNA. During his professional career, he held senior positions at Citibank, Banque Atlantique, Ecobank, AFC…

The African Development Bank, in partnership with the African Center for Training and Administrative Research for Development (CAFRAD), organized on Thursday February 25, a virtual seminar to present the new strategy for modernizing the said center. Under the theme “Promoting good governance of regional public bodies: the example of CAFRAD”, the meeting brought together representatives of the Moroccan authorities, the private sector and national partner institutions. In the context of the Covid-19 pandemic, the event provided an opportunity to discuss the new challenges facing regional public bodies in Africa. The discussions focused on the presentation of CAFRAD’s new modernization strategy,…

The Guinea Investment Forum started on February 24, 2021 under the effective chairmanship of Professor Alpha Condé, President of the Republic of Guinea. Organized by the Agency for the Promotion of Public and Private Investments, the meeting brings together potential investors, the State through its various branches, private actors and development institutions. This business forum materializes the vision of His Excellency the President of the Republic of Guinea, Professor Alpha Condé and his Government, to transform Guinea’s tremendous potential into an economic, sustainable and inclusive reality. We will come back to the highlights. President Alpha Condé inaugurates the Guinea Investment…

Vista Group is pleased to announce that the Central Bank of The Gambia has formally approved the rebranding of First International Bank (Gambia) Limited to Vista Bank (Gambia) Limited. A formal launch of the new Brand shall be announced in due course. Simon Tiemtore, Chairman of Vista Group said: “This rebranding is a milestone in Vista’s declared intent of establishing a world class pan-African financial institution promoting financial inclusion and contributing to socio-economic development in The Gambia. It further expands Vista Bank’s existing operations in Guinea and Sierra Leone, which we will be augmenting through our impending purchase of La…

Emerging Capital Partners (ECP), a pan-African leader in private equity, announced on February 3, 2021 that it had crossed the threshold of 5% of the capital of the Tunisian group Société d’Articles Hygiéniques (SAH), better known under the name of Lilas , Tunisian champion of hygiene and cleaning products. This operation reflects the group’s willingness to support the economic champions of North Africa, who for many are showing strong resilience in the face of the Covid-19 crisis. The partnership between ECP and SAH Lilas began in 2008, when the company created by Jalila Mezni and Mounir El Jaiez opened its…

Banker Mamadou Sène announces the publication of his book “The Bank Explained to All – Focus on Africa” ​​on March 4, 2021. The preface is written by Mohamed EL Kettani, Chairman and CEO of Attijariwafa bank. The book is edited by RB Edition of the Revue Banque group. Written in the form of questions and answers, this book answers the questions that everyone might have about banking. The two hundred and a few questions which constitute its framework are of all kinds and relate to its definition, its history, its different forms, its functioning and its operations. The topics covered…

Following a successful digital revolution, Estonia – a small Baltic state considered today as one of the most technologically advanced countries in the world – exports its digital know-how abroad and seeks to strengthen its cooperation with various actors, including Africa. What are the ingredients of its success? How could the continent benefit from this collaboration? Mari Hanikat, CEO of Garage 48, sheds some light on this issue for Kapital Afrik. By Kapital Afrik Financial Afrik: Estonia is considered as the most technologically advanced society in Europe. Can you briefly explain how Estonia’s digital revolution occurred? Mari Hanikat: After…

Terminal 3 of MPS (Meridian Port Services Limited) in Ghana is the backbone of the maritime service between Africa and South America. The container terminal at the port of Tema enables the CMA CGM and MSC ship owners to connect Africa with the South American market. MSC benefits from a berthing window on the MPS docks for its connections between Africa and South America. Meanwhile, CMA CGM recently launched the “SAMWAF” (South America – West Africa) service that makes the port of Tema a leading hub for containers coming from or going to Ghana and countries in the sub-region. These…

Organised in partnership with the International Finance Corporation (IFC), the inaugural Africa Financial Industry Summit will be held online this coming 10 and 11 March and gather the most influential voices and institutions in African finance. The Africa Financial Industry Summit’s extensive list of speakers includes executives from the largest banks and insurance companies operating on the continent, Africa’s most dynamic mobile money operators and microfinance institutions, as well as the continent’s most innovative fintech firms and influential regulators and finance ministers. A cohort of 400 high-profile decision-makers representing every segment of Africa’s financial industry will gather to collectively address…

After a year on stand-by because of Covid, the French-African Foundation’s flagship programme is back on track with the launch of its recruitment campaign on 17 February. Objective: to identify 100 Young Leaders from among several thousand applications from Africa and France and bring them together at various key events in France and Senegal, in order to jointly build the solutions of tomorrow, on the theme of resilience. For the 2021 edition of the Young Leaders programme, the French-African Foundation has chosen the theme of resilience, more relevant as the global pandemic persists and to significantly increase its recruitment. Whereas…

Minister of Economy and Finance of Benin since April 2016, Romuald Wadagni saw in 2020, in the midst of the Covid-19 pandemic, his country accede to the category of Middle-income countries. The Harvard Business Of School graduate is of the opinion that priority should be given to relaunching while preserving country signatures with major rating agencies, a decision hailed by S&P and, at the dawn of the year 2021 confirmed by Fitch and made concrete by a fanfare outing from Benin on the occasion of a Eurobond * subscribed by an enthusiastic market. In 2020, Cotonou should register a growth…

Nairobi, 17th February, 2021 – African Guarantee Fund has issued a loan portfolio guarantee amounting to USD 10 million to Afriland First Bank to support SMEs, women entrepreneurs and green economy in Cameroon. The signing ceremony took place at African Guarantee Fund’s head office in Nairobi. Signed by Alphonse Nafack, Managing Director of Afriland First Bank and Jules Ngankam, Group Chief Executive Officer of African Guarantee Fund, this agreement will enable Afriland First Bank, on the one hand, to strengthen its commitment to the SME/SMI sector and, on the other hand, to promote the development of green entrepreneurship and women’s…

Abidjan, Côte d’Ivoire, 17 February 2021 – The Japan International Cooperation Agency (JICA) and the African Development Fund (ADF) – the concessional arm of the African Development Bank Group – on Tuesday signed a loan agreement of 73.6 billion Japanese yen ($668.1 million) to support the 15threplenishment of the African Development Fund (ADF-15). During a virtual ceremony, African Development Bank Group President Dr. Akinwumi A. Adesina and Japanese Ambassador to Côte d’Ivoire Kuramitsu Hideaki signed an Exchange of Notes, while the loan agreement was signed by the JICA Chief Representative in Côte d’Ivoire, Fujino Kojiro, and Acting African Development Bank…

Bolloré Transport & Logistics has been recertified as a Regional Authorized Economic Operator (AEO) in East Africa. The certification, which covers Kenya, Uganda, Rwanda, Burundi and Tanzania, recognizes Bolloré Transport & Logistics as a secure and reliable trade partner and offers the benefit of expedited clearance procedures through pre-arrival clearance, reduced physical inspection and priority service channels among other benefits. “As a global logistics player operating in East Africa, the AEO certification allows us to extend the privilege of fast-tracked cargo handling to the numerous importers and exporters in our client base. It is a boost to efficiency in the…

World No1 asset manager BlackRock has put its considerable weight behind a global zero emission economy. Larry Fink, the multinational investment giant’s CEO, has told companies within BlackRock’s $8.67 trillion investment portfolio to show how they will achieve net-zero carbon emissions by 2050, and prove that the plans have been signed off by their own board of directors. Blackrock made waves last year by stating it would put environmental sustainability at the heart of its investment strategy, including divesting itself of fossil-fuel producers. Fink’s latest message is now expected to push companies into revealing details they have avoided so far. Fink’s…

Tunis, February 13, 2021. Kgenci, the Tunisian agency specializing in information technology and electronic commerce and the pan-African newspaper Financial Afrik, leader in financial and economic information in Africa, have opened a liaison office in Tunis to closely cover the economic news of Tunisia, Algeria and Libya. This strategic partnership allows the Tunisian financial market and the country’s companies to benefit from a media platform for exchange and communication with the rest of the continent from the high-tech studio of the Kgenci agency, in the center of Tunis. On the other hand, African companies present on the Financial Afrik site…

MEDI1TV, a Moroccan continuous information bouquet, reveals its key digital and social media figures. After recording strong digital performance in 2019, 2020 turned out to be even more exceptional at all levels. MEDI1TV’s digital audience on social networks grew by 25% with increased user engagement, particularly in terms of news video consumption, exceeding the 2 billion video viewed mark. MEDI1TV in phase with the strong growth of social networks in 2020 MEDI1TV’s digital performance is part of a context of strong digital growth, in the uses of the internet, mobile phones and social networks in Morocco and elsewhere. In fact,…

Lagos, Nigeria – 15th February 2020 – Interswitch Group, Africa’s leading technology-driven company focused on the digitization of payments in Africa, is pleased to announce the launch of Quickteller Business, a new comprehensive corporate solution focused on empowering businesses of all sizes facilitate payments and manage transactions from anywhere in the world, through one, simple integrated platform. Complementing Interswitch’s existing Quickteller platform, Quickteller Business will broaden its payment management capabilities to businesses and merchants of all sizes, allowing them to access a wide range of integrated payment offerings, ranging from disbursements to value financing. The addition of Quickteller Business to the…

Abidjan, Côte d’Ivoire, 11 February 2021 – The Mozambique Liquefied Natural Gas (LNG) Area 1 Project and the African Development Bank have jointly received the prestigious Global Multilateral Deal of the Year 2020 award by the print and online publication Project Finance International (PFI). The project, the single largest foreign direct investment in Africa to date with a value of over $24 billion, will exploit Mozambique’s immense offshore natural gas reserves, which can potentially transform global energy markets. The African Development Bank signed an agreement for a $400 million senior loan to finance the project in July 2020. In signing the loan…

Bakalilou Yabi had spent 7 years headhunting IT profiles and recruiting in Europe. With his associate, they needed to undertake a business on his behalf. Along with his associate Seynabou Thiam, they have launched an HR consulting and high-level profile recruitment company in Geneva, named BK Search, in 2014. Now more than ever, both partners intend to put people at the heart of their new challenge. He was a formidable head hunter that discovered this profession in 2007. She is a human ressources expert who worked for many years in extracurricular services as Director at Paris City Hall. In 2006,…

2 February 2021 – As a highly infectious new strain of COVID-19 spreads through Southern Africa, health workers in Mozambique, Eswatini and Malawi are struggling to treat escalating numbers of patients with little prospect of a vaccine to protect them from the virus. International medical organisation Médecins Sans Frontières/Doctors Without Borders (MSF) calls for COVID-19 vaccines to be distributed equitably, prioritising and protecting frontline health workers and people at highest risk of severe illness and death from COVID-19 in all countries, including in Africa. “We are appalled by the inequitable distribution of COVID-19 vaccines across the world,” says MSF director…

Following the revaluation of PALMCI’s ratings, the Bloomfield Investment Corporation Rating Committee decided to maintain the A rating (investment rating) for the long term, with a stable outlook and to maintain in the short term , the A1 rating (investment rating), with a stable outlook. The Rating Committee notes that the global production of palm bunches increased by 18% in 2019 (1,365,104 tonnes compared to 1,152,239 tonnes in 2018) due not only to the end of the vegetative rest phenomenon, but also to actions carried out in favor of improving the yield of plantations (village and industrial). This increase in…

CDC Group appoints CEO of Amadeus Capital and former Global Head of Venture Capital at IFC as new Investment Committee members as it expands its venture capital programme Anne Glover CBE, CEO of Amadeus Capital Partners and Bank of England Non-Executive Director joins CDC’s Investment Committee Nikunj Jinsi, former Global Head for Venture Capital at International Finance Corporation (“IFC”) also appointed CDC to scale up VC interests across Africa and S. Asia CDC Group (CDC), the UK’s publicly owned impact investor, has appointed two of the best-known names in the venture capital industry as investment committee members, as it prepares…

Abidjan, Côte d’Ivoire 01 February 2021 – Ratings agency S&P Global has affirmed its “AAA/A-1+” foreign currency issuer credit rating of the African Development Bank with a stable outlook. The ratings agency said its outlook reflected the expectation that the African Development Bank (AfDB) would, over the next two years, “prudently manage its capital while maintaining solid levels of high-quality liquidity assets and a robust funding profile. We also assume extraordinary shareholder support to the bank will remain unchanged.” In a letter, dated 29 January 2021, S&P Global Ratings noted the Bank’s $115 billion capital increase, approved by its shareholders…