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Africa Finance Corporation (“AFC” or “the Corporation”), the leading infrastructure solutions provider in Africa, announces today it has financed Aker Energy A.S. (“Aker Energy”), a subsidiary of Aker ASA, one of the highest-quality-rated companies in the Norwegian market and a leader in oil, gas and industrials. AFC’s support is through investing in US$100 million of convertible bond notes with an intention to participate in follow on fund raising activities. The funds will be used by Aker Energy to finance the development of the Deepwater Tano Cape Three Points block (“DWTCTP” or the “Asset”), a block offshore Ghana containing multiple oil…

ICAEW – the Institute of Chartered Accountants in England and Wales – has today announced the appointment of Allison Legge to its Africa Members Advisory Board. Legge, who is an assurance partner at Deloitte, specialises in retail and consumer industries. Speaking during the announcement of Legge’s appointment to the Advisory Board, Michael Armstrong, ICAEW Regional Director for the Middle East, Africa and South Asia said: “We are delighted to welcome Allison to the Africa Members Advisory Board and especially value her experience and networks in the Southern African market which will be a real asset to our organisation.”.  The ICAEW…

Asoko Insight and Africa Capital Digest, two leading business-to-business information providers, today launched Deal History – a comprehensive, instantly available data-set of historical Private Equity transactions in Africa since 2015. Dealmakers involved in financing Africa’s privately-held companies can purchase the entire dataset or isolated data based on characteristics meaningful to their fund or commercial due diligence. Deal History datasets includes information on buy-side and sell-side stakeholders in private equity deals, ticket sizes as well as other deal specifications and details on the intermediaries involved in executing the transactions. “Up until now, access to comprehensive deal history on the continent has…

During its General Shareholders Meeting (GSM) in Kigali yesterday, Africa50, the pan-African investment platform, announced that the Republic of Zimbabwe has joined as its 31st shareholder. Speaking during the event, Africa50 CEO, Alain Ebobissé, thanked the government of Zimbabwe for its commitment to the institution, which marks a welcome expansion in southern Africa. “We are grateful for this strong vote of confidence and look forward to working closely with the government and the private sector to identify priority projects and deploy our project development and financing expertise”. George Tongesayi Guvamatanga, Zimbabwe’s Permanent Secretary for Finance and Economic Development, signed the…

The UN Economic Commission for Africa (ECA) has once more urged leaders across the Central African subregion, especially those of CEMAC member States, to urgently pursue economic diversification and trade-induced industrialisation as pillars of their sustainable development trajectory, while taking advantage of the opportunities offered by digital transformation and regional integration – a case made stronger with the advent of the African Continental Free Trade Area (AfCFTA). The Director of the Central Africa Subregional Office of ECA, Mr. Antonio Pedro, underlined these points at a consultation on accelerating the physical and commercial integration in the CEMAC zone, convened recently in…

The organisers of the Second Intra-African Trade Fair (IATF2020) expect it to surpass the achievements of the inaugural trade fair held in Cairo in 2018 by attracting 10,000 participants and generating intra-African trade and investment deals worth more than $40 billion, Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), has said. Prof. Oramah was speaking on Saturday at the formal launch of IATF2020 during the African Continental Free Trade Area (AfCFTA) Business Forum 2019 held on the sidelines of the 12th Extraordinary Summit of African Union (AU) Heads of State in Niamey. He told guests that the trade…

The South African giant has postponed its $ 100 billion IPO following an administrative error by an external service provider. Naspers, quoted in Johannesburg, said Friday it would postpone the introduction to September of what should be the largest consumer Internet group in Europe. Listing on Euronext Amsterdam was initially scheduled for July 17. The listing aims to reduce a significant discount on Naspers share price due to the size of its investment in Tencent, which it has held since 2001. The company’s 31% stake in the Chinese video gaming giant – part of which was sold last year -…

The Regional Stock Exchange (BRVM) and the School of Management Sciences of the University of Quebec at Montreal (ESG UQAM) have created a formal framework for cooperation for a long-term partnership in the field of training, by signing a Memorandum of Cooperation Agreement. Through this Memorandum, the BRVM and the ESG UQAM pledge to collaborate to provide the UEMOA regional financial ecosystem with a training and capacity building tool. This in the form of basic training, continuous training and certifying actors and stakeholders of the regional financial market, as well as financial education of the populations of UEMOA. For the…

The 18th Edition of the US-Africa Sub-Saharan Economic and Trade Cooperation Forum (AGOA Forum called “AGOA Forum Côte d’Ivoire 2019”) will be held from 04 to 06 August 2019 in Abidjan on the theme: “Agoa and the Future: Development of a new paradigm to guide trade relations and investments between the United States and Africa “. This event will see the participation of more than 2000 personalities including American and African Political and Economic Leaders from the 39 countries eligible for AGOA, RECs: Regional Economic Communities (ECOWAS, UEMOA, SADEC, COMESA …), Multinational Organizations of Development (AfDB, World Bank …) and…

The prospect of a fully sustainable blue economy for Africa has grown considerably after the second Africa Blue Economy Forum (ABEF2019) held in Tunis on 25-26 June. The fisheries, aquaculture, shipping, ports, energy and finance sectors were all highlighted at ABEF2019, which brought together ministers, business leaders, international investors, academics and environmental organizations around the world. The need for direct action to bring environmental, economic and social benefits to Africa, and in particular to its coastal countries, given that 90% of Africa’s trade is by sea, was emphasized during two days of reflection. Stakeholders at ABEF2019 agreed on the urgent…

Orabank Togo, a subsidiary of the Oragroup banking group, announces the launch of KEAZ, its new digital services offering for private, corporate and institutional clients. The KEAZ platform, which will be accessible to as many people as possible through the sub-agents of Orabank Togo, aims to provide its users with a simple and user-friendly experience with consistent information across all channels (“omnichannel” type solution). ). The customer can start a transaction from a mobile phone and finish it on an ATM, on the internet or with a sub-agent. KEAZ users will also be able to initiate almost all their transactions…

West Africa Rating Agency (WARA) states, on July 4, 2019, CBI’s long-term rating of “BBB +” in investment grade, while its short-term rating is “w-3”. This rating is located at the level of the sovereign ceiling of Burkina Faso, which is established – according to WARA- to “BBB +”. The perspective attached to these ratings is kept stable. At the same time, on its international scale, WARA assigns to CBI the following ratings and outlook: iB + / Stable / iw-5. Born in 2008 from the transformation of “La Financière du Burkina”, which was originally a financial institution in difficulty,…

Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), yesterday in Niamey, addressed the 12th Extraordinary Summit of African Union (AU) Heads of State, announcing a series of initiatives to support the implementation of the Agreement for the African Continental Free Trade Area (AfCFTA). Prof. Oramah told the heads of state, who were gathered to mark the start of the operational phase of the AfCFTA, that Afreximbank was instituting a $1-billion AfCFTA Adjustment Facility to enable countries adjust in an orderly manner to sudden significant tariff revenue losses as a result of the implementation of the agreement. “This facility will…

The shareholders of the new unified stock exchange company of the CEMAC zone, Stock Exchange of Central African Securities (BVMAC) met this Thursday, July 4, 2019 in Douala, Cameroon, headquarters of the new company with the effect of putting in place a new governance. It was at the end of the Board of Directors of the new stock exchange that Henri Claude OYIMA, who is also Chairman and Chief Executive Officer of the BGFIBank Group, was elected Chairman of the Board of Directors. The six-year term of Henri Claude OYIMA marks the official start of the activities of the regional…

Global Mind Consulting co-organized the panel “Role and Impact of the Media in Economic Development: What Place for Women? At the 3rd Annual WIA Summit in Marrakech. Fully committed to an innovative and enterprising Africa, Global Mind Consulting Gabon co-organized a panel on “Role and Impact of the Media in the Emergence of the Continent” in Marrakech (Morocco) on Thursday 27 June. opening of the 3rd Annual Women In Africa Summit (WIA-17 and 28 June 2019). “The overall drive for economic development in which Africa has embarked is making a profound change in the perception of the continent. More than…

Benin’s Minister of Economy and Finance, Romuald Wadagni, has officially opened the Regional Office for West Africa of the African Trade Insurance Agency (ACA) on Wednesday 03 July 2019 in Cotonou. “This opening is the culmination of a fruitful six-year relationship between the Republic of Benin and the Agency,” the ministry said in a statement. Benin is the first country in West Africa to guarantee its sovereign bonds in currencies using the credit risk insurance of the Agency for Commercial Insurance in Africa, thus attracting the first commercial financing of international banks of Benin. For Minister Romuald Wadagni, “the opening…

United Nations Deputy Secretary-General, Amina J Mohammed, on Sunday pledged the UN’s full support to the African Union as nations begin to earnestly operationalise the landmark African Continental Free Trade Area (AfCFTA) that is expected to unleash the continent’s all-inclusive economic potential. In remarks to the 12thextraordinary session of the African Union on the AfCFTA, Ms. Mohammed said the UN stands ready to work in partnership with African countries as they move to implement the historic and game-changing AfCFTA. “We are already working with 16 African governments to develop national strategies to maximise the opportunities created by this agreement, and…

The ninth edition of the flagship Assessing Regional Integration in Africa report (ARIA IX) was launched on 6 July 2019 during the African Business Forum in Niamey, Niger. It is titled ‘Next Steps for the African Continental Free Trade Area (AfCFTA).’ The report argues that AfCFTA’s success will be measured largely by its ability to actually change lives, reduce poverty and contribute to economic development in Africa. During the launch – which took place in the presence of Niger’s president, the chairperson of the African Union Commission (AUC), heads of UN Agencies and top business persons from across the continent…

Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 27 African countries, and two African Central Banks, is pleased to announce the appointment of Opuiyo Oforiokuma as Head of Strategy and Investor Relations. He assumed his position on July 1, 2019. Mr. Oforiokuma, a Nigerian and British national, is an infrastructure specialist with over 30 years of experience in the UK and Europe, the Americas, Asia, and Africa. In a wide-ranging career, he has worked in business strategy, operations and financial management, fundraising, investor and media relations, project development and financing, and mergers and acquisitions. Prior to joining…

The African Export-Import Bank (Afreximbank) today in Niamey announced a grant to the United Nations Economic Commission for Africa (UNECA) to conduct a one-year pilot project to collect data on informal cross-border trade (ICBT) along the Abidjan-Lagos corridor in West Africa. The grant, which is part of Afreximbank’s effort to promote intra-African trade and support the implementation of the African Continental Free Trade Area (AfCFTA), was announced during a ceremony on the sidelines of the AfCFTA Business Forum organised as part of the African Union’s Summit of Heads of State being held to mark the implementation phase of the AfCFT.…

The Stock Exchange of Mauritius (SEM) has announced the inclusion of the African Export-Import Bank (Afreximbank) in the SEM-10 index. An announcement posted on the SEM website on Wednesday listed Afreximbank among the SEM-10 Constituents for the third quarter starting 3 July 2019. Other companies on the list are: MCB Group Limited; IBL Ltd; SBM Holdings Ltd; Grit Real Estate Income Group Limited; ENL Limited (Ordinary A Shares); CIEL Limited; New Mauritius Hotels Limited; Rogers & Company Limited; and Lux Island Resorts Ltd. The index tracks the performance of the 10 largest stocks on the SEM in terms of market capitalization and the…

Cameroon’s Minister of Mines, Industry and Technological Development, Mr. Gabriel Dodo Ndoke has solicited the support of the Subregional Office for Central Africa of the UN Economic Commission for Africa (ECA) in the updating of Cameroon’s Industrial Development Masterplan (PDI, in French) and coordinating the contribution of a league of development partners in the implementation of its next phase. The PDI is seen as a switchboard for Cameroon’s sustainable development, especially with the advent of the African Continental Free Trade Area (AfCFTA), which requires a transformation of production systems in favor of the manufacturing sector from any country that wants…

The Bank is pleased to announce the secondary listing of its benchmark 2024 USD-denominated Eurobond on the Stock Market of Mauritius (SEM), a first for an African Eurobond issuer for SEM, thanks to which, Mauritian investors will be able to access the global Eurobond market through their own stock market. The secondary notes are issued under TDB’s USD 2bn Euro Medium Term Note Program. With a rare negative new issue premium – a remarkable achievement given the current rising interest rate environment – TDB’s senior unsecured 5-year USD 500mn Eurobond issued this past May 16th, was TDB’s lowest-cost-ever global Eurobond.…

SAVE THE DATE 18-24 March 2020 | Addis Ababa, Ethiopia   Fifty-third session of the Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development Committee of Experts | 18 and 20 March 2020 Conference of Ministers | 23 and 24 March 2020   Join Africa’s top ministers and other global leaders as they discuss ways to industrialize the continent in a faster and cleaner way in the digital era. RSVP: Sophia Denekew on denekews.uneca@un.org Theme: “The future of Africa: Industrialization in the digital era”

From June 26 to 28, Chad welcomed 13 delegations from the Arab world, with over 180 entrepreneurs, CEOs, industrialists, and investors. Numerous G2G, B2B and B2B panels, workshops, and meetings fostered dialogue during the three-day business rendezvous at N’Djamena. “A SYNERGY-CREATING FORUM”, SAYS PRESIDENT IDRISS DEBY ITNO The first edition of the Invest in Chad Forum greatly exceeded even the most optimistic expectations. For the first time, the economic and financial elite from the Arab countries, the subregion and the Republic of Chad reunited at N’Djamena. After an fruitful three-day business reunion, with several exchanges, presentations, roundtables, networking and strategic…

The European Union Commission fully supports the African Continental Free Trade Agreement (AfCFTA) and is proposing a 40 billion Euro package to attract investments that would create at least 10 million jobs in Africa. This was revealed by Ambassador Ranieri Sabatucci, the EU Ambassador to the African Union, in an opening address to a two-day Horn of Africa AfCFTA forum focusing on the pharmaceutical industry. “As was highlighted by the EU Commission President, Juncker, in his state of the union speech in September last year, referring to the AfCFTA, he expressed the wish that the long term perspective is to…

Conscious of a new digital era marked by innovation and hyper-communication due to the internet, the Attijariwafa bank group is constantly innovating to respond to the new uses and expectations of web users. Indeed, the Group has redesigned its institutional interface by appropriating the new digital codes to make it a genuine modern, interactive and innovative digital hub. www.attijariwafabank.com, now reflects Attijariwafa bank’s DNA-embedded innovation, and rein-forces its image as a pan-African banking and fnancial group, frmly focused on the future. Modernizing, harmonizing and offering a new digital experience The Attijariwafa bank group has redesigned its Group corporate digital ecosystem…

International and Pan-African organizations agree to collaborate on initiatives following successful ABEF2019 The prospect of a fully sustainable Blue Economy for Africa gathered significant momentum following the second Africa Blue Economy Forum (ABEF2019) held in Tunis on 25-26 June. Fishing, aquaculture, shipping, ports, energy and finance industries all came under the spotlight at ABEF2019, which drew in Government ministers, business leaders, international investors, academics and environmental organisations from across the globe. The need for direct action to deliver the environmental, economic and social benefits for Africa, and particularly its coastal nations given 90 per cent of Africa’s trade is conducted…

A retreat to size up the stakes of the African Continental Free Trade Area (AfCFTA) for the Republic of Chad and lay the foundation for the country’s strategy to leverage it, ended in Mara, Chad, at the weekend, with experts from the UN Economic Commission for Africa (ECA) allaying fears around the county’s participation in the continental common market. At the retreat, co-organized by Chad’s National AfCFTA Negotiation Committee and ECA’s Subregional Office for Central Africa, bringing together State officials and members of the private sector, the main worries raised were Chad’s readiness to compete with Africa’s industrial giants and…

The Ordinary General Meeting of BGFI Holding Corporation was held on Monday, June 17, 2019 at the headquarters in Libreville, under the chairmanship of Mr. Henri Claude OYIMA. At the opening of the meeting, Mr. OYIMA presented the report of management of the BGFIBank Group’s activities as well as its financial performance for the year ended December 31, 2018. As a result of this general meeting, the BGFIBank Group consolidated its leading position in the sub-region. Despite a contrasting economic environment and an increasingly demanding legal and regulatory environment, the BGFIBank Group has managed to maintain its gains by achieving…