Author: Editor

Good news for Tunisia. Dutch oil and gas exploration and production group Mazarine Energy and ETAP announce the discovery of an oil well in Sidi Marzoug. The site would have a capacity of 2000 barrels per day. According to the release, during the production test, the SMG-1 well revealed reserves, at a rate of 2000 barrels of oil per day and 5 million cubic feet of natural gas per day. The well was drilled by the CTF (Tunisian Drilling Company) to a total depth of 3880 m, the statement said. According to the same source, the assessment of the discovery…

The Togolese deputies voted Wednesday, May 8, a constitutional revision providing for the limitation of the number of presidential terms. The law allows the current president, Faure Gnassingbé, to run for the next two elections, in 2020 and 2025. The new law also establishes a first-past-the-post system in two rounds (against one today) for the election of the president. of the Republic. The constitutional reform was approved in a secret ballot by the 90 deputies present (out of 91), two thirds of whom belong to the ruling party, the main opposition coalition boycotting the December elections. In Togo, a draft…

The banking sector of Côte d’Ivoire finances the economy well. According to Guy Koizan, president of the Professional Association of Banks and Financial Institutions of Côte d’Ivoire (Apbef-ci), the sector has achieved a continuous growth of credit to the economy at 7056 billion Fcfa, or an average annual increase of 18%, in 2018. These loans went to households, to businesses, ie to economic agents in general. Regarding banking, according to figures provided by the President of the Apbef-ci, during the traditional ceremony of “official return 2019” of the association, the sector recorded a rate of banking of 19.07%, or an…

Sindika Dokolo is since May 7, 2019 back in the Democratic Republic of Congo. Married to Isabel Dos Santos, this Congolese, heir to a wealthy family, who made his fortune in the mines, lived in exile for more than five years. The son-in-law of former Angolan President Jose Edouardo Dos Santos was on a crusade...

According to the World Bank, there is a small revolution in African gold production in 2018. Thus, Ghana has dethroned South Africa, falling to the third continental place behind Sudan (2nd). The former Gold Coast released 158 tonnes of its mines in 2018, up 15%. South African gold production has been on a downward trend for several years (142 tons in 2016 compared to 119 tons in 2018). South African gold production declined in March for the eighteenth consecutive month, prolonging a longer series of contractions since the financial crisis. These figures come as AngloGold Ashanti began selling its latest…

The European Commission has just announced the names of the fteen inspiring young people from around the world who will enrich the debates at the 2019 European Development Days (EDD). These Young Leaders, aged between 21 and 26, have been chosen from among 404 applicants from 99 countries for their exceptional skills, expertise and active contributions to nd solutions to development issues. They will share their vison on how to address inequalities to build a world which leaves no one behind, the main topic of this year’s edition of the EDD. The Young Leaders Programme aims to ensure that young…

The EurAfrican Forum is a networking and discussion platform underpinned on the power of Diasporas for connecting people, cities, regions and continents The EurAfrican Forum (www.EurAfricanForum.org) organization announced today the presence of the President of Mozambique, His Excellency Filipe Nyusi, for an institutional speech on the first day of the event, July 4, 2019, on the same day that António Vitorino, Director General for the International Organization for Migrations – UN Migration Agency (IOM) will address about the migration dialogue between Europe and Africa. After the 2018 edition where the launch theme was «Crafting Coalitions for Change», this year the…

The second Intra-African Trade Fair (IATF2020) scheduled to take place in Kigali from 1 to 7 September 2020 will target the execution of Intra-African trade deals worth more than $40 billion, Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), announced today. Prof. Oramah was speaking in Kigali at the signing of the hosting agreement for IATF2020 by the Government of Rwanda, Afreximbank and the African Union. Soraya Hakuziyaremye, Minister of Trade and Industry of Rwanda, signed for the Government while Prof. Oramah signed for Afreximbank and Amb. Albert Muchanga, Commissioner for Trade and Industry of the African Union, signed…

“Although insurance will never cover all the risks associated with a peril in each country, the ARC approach allows for the risks to be managed in a way that multiplies the benefits from limited resources available to Government.” – Mohamed Beavogui The African Risk Capacity (ARC) Agency and the Government of Mozambique have signed a Memorandum of Understanding (MoU) to provide mid to long-term solutions against the recurrent episodes of drought, floods, and tropical cyclones in the country. The MoU serves as “a framework to facilitate cooperation and collaboration between the ARC Agency and the Government, and to define the…

This international primary school will be the primary section of Enko La Gaieté Campus The African international schools network Enko Education announced today the launch of a new primary school in Yaoundé, Cameroon. Following parents’ demand, this will be the primary section of the famous international school Enko La Gaieté Campus, the first school of the Enko Education network. Since its inception in 2014, Enko La Gaieté Campus has sent its graduates to prestigious universities such as Yale College in the USA, African Leadership University in Rwanda and Ecole Polytechnique in France. The school wanted to offer more to parents…

The Rockefeller Foundation and the Dalberg Group are proud to announce a landmark convening focused on advancing initiatives that recognize the role of data science in addressing systemic challenges linked to unemployment and the future of work in Africa. Africa is home to the world’s youngest and fastest-growing population with projections of more than 375 million young people in the job market by 2030. Within a few decades, this demographic dividend will increase the size of Africa’s workforce to more than a billion people, making it the largest in the world. However, the gap between the number of work seekers…

Dear friends The executive has been working on creating a business environment more favorable to domestic and foreign private investment in all branches of our economy. We understand the need to diversify our economy, but remain cognizant of the fact that oil is the engine of our economic activity. In recent times we have changed our policy of managing energy resources such as oil and gas to better serve the interests of the country and investors. This new era in oil and gas is the result of Angola having adopted a totally transparent management of the tenders. Creating a national…

The Director of Public Prosecutions announced today that the charges leveled against OCP Kenya and its officers on June 22, 2018 have been lifted, in the context of a procedure designed to erase the unfounded allegations directed against them. At the same time, he ordered the immediate and unconditional release of the fertilizer cargo that had been the subject of the 2018 charges. The OCP Group welcomes this decision of the Kenyan judiciary, who have acknowledged, after a rigorous examination of the evidence and arguments presented by OCP – including test results from international laboratories – the full and complete…

Many rumors are circulating about the latest mission of the International Monetary Fund (IMF) in Gabon, which stayed in the country from April 24 to 30 under the leadership of Beninese Boileau Yeyinou Loko, previously stationed in Senegal. The liquidation order of the Compagnie Nationale des Hydrocarbures, the Gabon Oil Company (GOC) and the Gabonese...

The third tax meeting closed Saturday in Skhirat (25 km southwest of Rabat) resulted in 20 major recommendations (see list below). These meetings led by the Ministry of Finance have highlighted some of the major tax imbalances roayaume. Thus, as recalled by the Minister of Finance, Mohamed Benchâaboun, 50% of the revenues of the three taxes combined (IR, IS and VAT) come from only 140 companies. Only 1% of companies pay 80% of corporate tax revenues (IS). According to the minister, 84 companies pay 50% of the IS. These same companies represent only 28% of the total turnover and 40%…

Victor NDIAYE, president and founder of Performances Group, has been involved for more than 20 years in reflections and strategies on the emergence and development of African states. In this interview, he returns to the necessary partnership between the state and the private sector. What is the correct definition of emergence with Asian and African models in mind? The definition of emergence is the same everywhere: it is possible to optimize the factors that a country has to lift its populations out of poverty and significantly and sustainably improve their standard of living. Indeed, at certain moments in history, we…

Guinea hosted the sixth edition of the Mines Guinea Symposium, April 24-25, 2019 in Conakry, under the theme “Mining and infrastructure synergy: an issue for an integrated and sustainable development of Guinea” under the leadership of the Guinean Ministry of Mines. The fifth edition held in May 2017 in its new formula brought together several multinational mining companies and their subsidiaries based in Guinea, it is under the same impulse of fervor and renewal in mining investment that the work of the sixth edition opened this Wednesday in Conakry. In total, 630 official delegates from some 40 countries joined Conakry…

Kasada Capital Management, a new investment platform dedicated to hospitality in sub-Saharan Africa, closed its first round of fundraising for Kasada Hospitality Fund LP with equity commitments of more than $ 500 million. This announcement follows the July 2018 press release by Katara Hospitality and Accor, which will contribute $ 350 million and $ 150 million, respectively. In a region with strong growth prospects, Kasada plans to build new hotels and renovate and acquire existing hotels (greenfield and brownfield). The hospitality sector in sub-Saharan Africa is one of the most promising in a region that benefits from strong growth economies…

Elected on the promise of change, to build a new republic respectful of democracy and human rights, to make the government more accountable for its actions, and to fight corruption and financial malpractices that bleed the white economy and impede the development and improvement of the living conditions of the Congolese people, President Tshisekedi is fully aware of the challenges he faces. This is how he did not wait for the formation of the government to put himself firmly at work in order to honor his election promises. But the restoration of peace and security throughout the country is essential…

Weaker-than-expected global growth prospects and higher-than-expected oil production in the United States led to a downward revision to the oil price forecast for October 2018, says the World Bank, which is banking on a barrel of oil. averaging $ 66 in 2019 and $ 65 in 2020. According to forecasts by the World Bank in its April Commodity Markets Outlook delivery, metal prices are expected to continue their recovery in 2019, following the sharp decline recorded in the second half of 2018. This dynamic is due to the stabilization of the market. activity in China after the slight decline observed…

By proceeding this Tuesday, April 23, the opening of its branch in Shanghai, BMCE Bank Of Africa becomes the first Moroccan banking institution to hold a subsidiary. “After nearly two decades of presence in Beijing, in the form of a Representative Office, the group has the privilege of being counted, henceforth, among the financial community of Shanghai, as a Chinese bank, of Moroccan origin and of African vocation “declared the president of the BMCE Bank of Africa group, Othmane Benjelloun during the inauguration. The bank has been present in China since 2000 through its representative office and has officially announced…

Shareholders of Ecobank Transnational Incorporated (ETI) participate this Thursday in the 31st general meeting of the bank in Lomé (Togo). This meeting comes after a year 2018 whose results are considered “solid” by the leaders. “The year 2018 marked a turning point for your company,” said Emmanuel Ikazoboh, Chairman of the Board of Directors, from the head table to the shareholders. “This is the beginning of the execution phase of our strategy, which builds on the initiatives we have taken to strengthen the group’s foundation,” he added. Indeed, according to the results announced by the Nigerian, Ecobank has achieved a…

Interview with Babacar Ngom, President of the Investors Club of Senegal (CIS) and Jean-Marie Ackah, President of the General Confederation of Enterprises of Côte d’Ivoire (CGECI) What are the immediate measures that African states, in particular those of WAEMU, will have to take to encourage the emergence of national and regional champions? Jean Marie Ackah: Companies that have the potential to be national and regional champions need to be specifically supported by the states as they play a fundamental role in economic transformation and the creation of prosperity for their countries. country. As has been done by the emerging economies…

Belonging to two branches of the New Belt and Road (B & R), Central Asia is both a partner and a commercial gateway for China and Europe, as well as an area of ​​influence for long time for Russia through expatriate transfers, its military bases and culture. For the moment, China and Russia find reasons for rapprochement in their opposition to Western ideas and their struggle against the spread of radical Islamism. However, the balance of power is likely to change, with China being the largest donor of corridor funding in the region. At the beginning of 2019, China’s B…

Axa is doing well. Managing Director Thomas Buberl presented fiscal year 2018 as the year of action and decision. Management has worked to build a “new Axa”, focused on key markets (health, welfare, corporate damages), closer to its customers and less exposed to financial risk, the latter objective having been formulated 10 years ago after the 2008 crisis. Thomas Buberl also worked to reassure shareholders about the good integration of XL. “Axa XL gives us a new commercial dynamic,” he said. The entity’s revenue grew by 10% last year, supported by the coverage of new needs (particularly in terms of…

After Paris, Tokyo, Beijing or New York, Google is launching a new artificial intelligence (AI) research center in Accra, the capital of Ghana. The Mountain View group chose this small English-speaking country in West Africa to launch specific research in the field of AI. “We are obviously influenced by our environment, and we will focus on certain issues of the continent, such as health or agriculture,” said Moustapha Cisse, director of the center, interviewed by Les Echos. Originally from Senegal, the young computer science graduate from the Pierre and Marie Curie University in Paris will head a group of ten…

Algerian billionaire Issad Rebrab, 74, is among the leaders of the economic world arrested in the context of the vast anti-corruption campaign following the political events in progress in this country, the first economy of the Maghreb in terms of GDP. The CEO of Cevital, the largest private group in Algeria, owner of the French...

Meeting Friday, April 19 at the Sipopo Conference Center in Malabo (Equatorial Guinea), the Board of Directors of the Bank of Development of Central African States (BDEAC) has granted loans for a total amount of 151 billion CFA francs (€ 231 million) to six countries in the region. The projects to be funded come from different sectors. Among other things, mention is made of the construction of a new passenger terminal at Bata airport in Equatorial Guinea for financing 80 billion FCFA (120 million euros), and the construction of 1,000 social housing units in Gabon. for 45 billion FCFA (68…

Jointly organized by the University of Nouakchott Al Asriya (UNA) and the Research Group on Entrepreneurship in Africa (GREA), the first symposium on Women’s Entrepreneurship was held in Nouakchott from April 11 to 13, 2019 an evocative central theme. “Between DIY and survival, what economic models for women’s entrepreneurship in the Maghreb and the Sahel: Assessments, challenges and perspectives” The scientific meeting, which was attended by distinguished professors and researchers from different countries, dealt with economic models of women’s entrepreneurial practices in the African context, informal entrepreneurial practices, financing of women entrepreneurs, female entrepreneurship and women’s entrepreneurship. social inclusion. Opening…

By Nesrine Aissani, Tunis. It is a fact that we tend to forget too often: The African continent is the only place in the world where there are more women entrepreneurs than men. This is certainly a fact that has not gone unnoticed in the United States. It is in this perspective that the United States has announced funding of US $ 1 billion for African women entrepreneurs. The official announcement surprised more than one person in Africa because the decision to invest in the African continent was issued by the Trump government. I do not need to recall here…