Author: Editor

Allianz Africa formalizes its new strategic skills cluster in Africa, according to a statement from the group to Financial afrik. After Casablanca and Nairobi, it is now in the Ivorian economic capital that Allianz Africa concentrates its operational teams to pilot its transformation and improve the service delivered to its customers and partners. For the past three years, the group has identified Africa as a major growth driver and has made significant investments to expand its business in high-growth countries. In order to support its ambition, Allianz has initiated an operational transformation with the aim of bringing the best of…

AUDA-NEPAD hosts the 3rd Africa CSA Alliance Forum Following the success of the first two Africa Climate Smart Agriculture (CSA) Alliance Forums in 2015 and 2016, AUDA-NEPAD and the African Union Commission, with support from GIZ and Norad, are convening the 3rd Africa CSA Alliance Forum from 27-28 March 2019 in Dakar, Senegal. Under the theme “Towards Vision 25×25 – Taking stock of CSA in Africa” the Forum aims to review progress made towards Vision 25×251, and share lessons and insights on how to drive sustained adoption of CSA in the African context. The Forum will also discuss how CSA…

 The African Export-Import Bank (Afreximbank) has made the case for factoring as a viable and sustainable solution to address the challenge of access to financing which is hindering the growth of Africa’s small and medium-scale enterprises (SMEs). Kanayo Awani, Managing Director of the Intra-African Trade Initiative at Afreximbank, said on 12 March during a factoring promotion conference held in Gaborone that factoring, a form of trade finance provided a solution to address the SME financing gap and would help innovative SMEs to grow and support Africa’s structural transformation and trade development. Ms. Awani, who noted that access to appropriate and affordable…

By Pierre Delval, chronicler. On April 15, 2018, in issue 49 of Financial Afrik, I devoted a full column on the criminological deciphering of cryptocurrency. I cautioned, in particular, the unwary who would be tempted to minimize the weight of potentially tortious transactions in this financial market of a new kind. And, without taking too much risk, I felt that this lark mirror would become, sooner or later, a target of choice for criminal organizations. While I was writing this analysis, criticized by the Bitcoin, Litecoin, Peercoin, Namecoin and other cryptodevises aficionados, a character, as he knows how to…

NASDAQ and the Regional Stock Exchange (BRVM) have signed an agreement for the provision of market surveillance technology to the BRVM. The BRVM will implement NASDAQ technology to monitor cross-market and multi-asset trading activities. “We are excited to begin this new collaboration with NASDAQ using its world-leading SMARTS market surveillance technology,” said Félix Edoh Kossi AMENOUNVE, Managing Director of the BRVM. “Over the past five (5) years, we have taken a number of aggressive steps to reinvigorate our market and increase investment opportunities in West African member states. The BRVM is seeking to implement its growth strategy for the period…

The democratic horizon is moving away while the time of the retreats of the civil and political liberties settles everywhere in Africa. Who does not see this grave danger that is so close! By Adama Gaye * It’s just a long nightmare. Like porcelain under the feet of an elephant, the African democratic dream is reduced to a heap of scattered debris. It is hard to believe that this was, long ago, the main justification for renewed hope around the African continent. When it’s gone, there’s nothing left or nothing left. Everywhere is desolation. Democratization, under siege, is being pushed…

The Regional Stock Exchange (BRVM) announces the release (Go Live), in real time, on the Refinitiv platform of Thomson Reuters, Monday, March 4, 2019, market information on all its listed lines (stocks and bonds) and as his clues. This is a significant step forward for the regional financial market must contribute to improving the dissemination of market trends. The initiative of the BRVM is part of the reinforcement of the dissemination of stock market information with a view to giving easier access to international and regional investors. Thomson Reuters is one of the largest data providers and infrastructure in the…

Leader of the telecom sector in Senegal, Sonatel embodies the concept of “National and Regional Champion” by its contribution to the economy, its social impact and its eminent role in the development of the new economy. This makes Sékou Dramé, Chief Executive Officer, say that “Sonatel remains a major player in all its countries of presence”. Interview. In concrete terms, what is the company’s contribution to the Senegalese economy in terms of jobs, taxes and dividends? Sonatel continues to remain a major player in all its countries of presence, and particularly in Senegal. In 2017, the group contributed more than…

Bolloré Transport & Logistics signed with CLS Logistics, its partner for over 11 years, a Memorandum of Understanding to create a joint-venture. The signing took place in Addis Abeba in the presence of Jean-Yves Le Drian, Minister for Europe and Foreign Affairs. Already supplying transit and logistics services in Ethiopia, Bolloré Transport & Logistics and CLS aim to offer their customers dedicated services meeting the highest international standards. More broadly, they aim to improve the supply chain of strategic sectors in the country such as textiles, coffee, industrial projects and infrastructure following the partial opening of the logistics sector in Ethiopia.…

Launched in February 2017, Outlierz Ventures, the Moroccan-based venture capital fund dedicated to African technology startups, announces the first five investments on the African continent. The fund headed by Kenza Lahlou will present its first assessment on March 21 in Casablanca, two years after its launch. Outlierz Ventures is the first private venture capital fund...

The US investor will announce its decision during the first half of 2019 on the Alen natural gas production project even if the final decision to invest will depend on the execution of commercial agreements between the two parties. The fate of the Alen natural gas production and exploitation project in Equatorial Guinea will soon be decided, with the decision of the US multinational to be known over the next three months. This is the quintessence of an announcement made by the company Noble Energy which operates the license located offshore and whose production is scheduled for 2021. According to…

The African Development Bank and Sophia University in Japan, have signed a Memorandum of Understanding to promote capacity development within the two institutions for their mutual benefit and the entire African continent. The agreement was signed Friday at the Bank’s Abidjan headquarters. “It is our sincere wish that this day will be an opening of bright future possibilities for all of us. We strongly hope our coming together today is not for a mere signing of an agreement, but a step towards shaping the future world,” said Professor Terumichi Yoshiaki President of the university, who signed for his institution. Sophia…

While the Democratic Republic of Congo (DRC) is experiencing a historic alternation, the price of cobalt collapses on international markets. Owing to 60% of the reserves of this mineral used for the manufacture of cathodes, Kinshasa declared it “strategic”. The market will remind the Congolese authorities that it is he who will always have the...

On the occasion of the Women’s Day, Jeanne SISSOKO-ZEZE, Coach in Personal Branding and General Director of Reflet Consulting, joins the editorial staff of Financial Afrik to discuss the big topic of the day. Below is his editorial (to be found also in the monthly FA number 58 download) addressed to all those who dream of reconciling work and family life. To be oneself simply! Source of life, pillar of the family, foundation of society; the extent of our role and responsibility often makes us forget that we also have the right to live for ourselves. In our modern African…

In 2018, Poland reached a peak in economic recovery with a GDP growth of 5.1%, the highest level of economic expansion since 2011. Despite this positive macroeconomic environment, payment delays appear to be standard practice on the Polish market. Nearly 99% of the Polish companies surveyed by Coface experience payment delays. Only one out of ten companies reports receiving payments on time.

H.E. Obiang Nguema Mbasogo, President of Equatorial Guinea, and H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons, will both speak at APPO CAPE VII Secretary General of APPO H.E. Mahaman Laouan Gaya and H.E. Emmanuel Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources, will present on the foundational reforms of the African Petroleum Producers’ Organization H.E. Mohammed Sanusi Barkindo, Secretary General of OPEC; Dr Sun Xiansheng, Secretary General of the International Energy Forum and H.E. Yury Sentyurin, Secretary General of the Gas Exporting Countries Forum (GECF) are all speaking at APPO CAPE VII APPO CAPE VII welcomes…

If 8 companies have applied for membership of the Federation of African National Insurance Companies -FANAF (including East Africa Global Non-Life Insurance Company of Burundi, Atlantic Insurance IARD Cameroon, the African Insurance of Congo- Brazzaville, Hannover Ré Côte d’Ivoire, Helvetia Assurance Dakar), it should be noted that Damane Assurance of Mauritania and Axa Assurance Morocco...

3 will not have been a Sunday like any other in Algeria. The president Abdelaziz Bouteflika, 82 years old, had cost to present his candidacy before midnight, last legal deadline to apply for the presidential elections of April 18, 2019. In the middle of the afternoon and while some media claimed that he submitted his candidacy, the strong man of Algiers had not yet returned from Switzerland where he underwent a series of medical examinations in the VIP service. University Hospitals of Geneva (HUG). Meanwhile, the street rumbled against the fifth mandate of a sick man, who has not made…

By Blaise Kendah The number of policies in a life insurance company is subject to natural erosion such as deaths and maturities, in addition to this natural erosion, we observe in our market another type of erosion not insignificant, it is policy falls prematurely, these policy falls are generally observed during first years of the life of the contract. By definition, we are talking about a fall in the life insurance policy when we observe a stoppage of contribution payments after observing a grace period of at least 40 days in our market. According to article 73 of the CIMA…

Five years of legal proceedings later, Guinea changes strategy and chooses negotiation. Following an amicable settlement reached on February 25, 2019 with BSR Resources of the controversial Israeli businessman, Benny Steinmetz, through the former French president, Nicolas Sarkozy, as a facilitator, Guinea recovers the Blocks 1 and 2 of Simandou. Conakry is back to square...

Mr. Tewolde GebreMariam, Managing Director of the largest aviation group in Africa and four-star certified by SKYTRAX, has been inducted into the “Hall of Fame of African Leaders” at the African Leadership Magazine’s Personalities of the Year Ceremony. , which took place on February 22, 2019 in Johannesburg. The annual Leadership of the Year Award from African Leadership magazine celebrates the best people in Africa’s business, politics and diplomacy who contribute to the growth and development of the continent. Mr. Tewolde GebreMariam, CEO of Ethiopian Airlines, said of the recognition, “I am honored to have been inducted into the African…

This is the case that shakes right now the Liberia President George Weah (in office since January 2018) and the Central Bank of this West African country. Everything started from an investigation launched last September to take stock of an order made in 2016 by the issuing agency to manufacture the equivalent of 100 million...

• With stagflation becoming a reality, exports represent an important source of revenue for the economy, particularly in the automotive sector • Exporters are flexible; Government support is vital to gaining new market share. Lower domestic demand, higher borrowing costs and depreciation of the pound slowed down the dynamics of the industry Turkey is currently experiencing a sharp economic slowdown, coupled with rising inflation following the sharp depreciation of the pound in 2018, which has affected the country’s consumption and production. In June, Coface downgraded the country assessment of high-risk Turkey (C), and the third quarter was marked by a…

The boss of Sifca, the largest agribusiness group in West Africa, spoke. In break with President Ouattara, Jean-Louis Billon is convinced that he will be, if not the candidate, at least in the task force of the Democratic PDCParti Côte d’Ivoire (PDCI RDA), for the presidential elections of 2020. In an interview granted on 28...

Ghana’s Cedi (GH ¢) has depreciated against the dollar and the pound sterling over the last two months. The dollar that traded against 4 cedis rose to 5.51 on 25 February. In response, the Central Bank (BoG) has released several guidelines to regulate the foreign exchange market. Despite the fall in the Ghanaian currency, fundamentals remain strong with, in particular, a deficit falling from 9.3% to 3.9%, the lowest in ten years. Some analysts believe that the Central Bank must inject currencies into the market to regulate the exchange rate. Speaking on the subject, on the sidelines of a meeting…

A new office was elected at the General Meeting of Investment Service Providers (PSI) whose main mission is to represent them in financial market consultations. The Professional Association of Investment Service Providers (APPSI) has set up a new office at the Annual General Meeting on February 13, 2019. For the next two years, it will...

The interoperability of electronic payments by telephone will be effective from 31 March 2019 in the Central African Economic and Monetary Community (CEAMC). One month from the deadline, various partners involved in the implementation of this project, in this case, mobile operators, banks and the interbank banking monétique of Central Africa (GIMAC) are reassuring. Everything...

The Attijariwafa bank group has obtained the accreditation of the United Nations Green Climate Fund (GCF), as financial intermediary for the implementation of green financing in Africa . Attijariwafa bank was officially accredited at the 22nd meeting of the Board of Directors of the Green Climate Fund held in Songdo, South Korea, on February 26, 27 and 28, 2019, after extensive due diligence by the GCF to ensure that the Group has the necessary procedures and experience to fund green projects in partnership with the institution. Attijariwafa bank thus becomes the only commercial bank in Africa and the MENA region,…

The South African Standard Bank Group Ltd bought the technology platform of the short-term insurance business of South African insurer Liberty Holdings for 145 million rand, or $ 10.45 million. Liberty Holdings indicates that the transaction will reduce its future capital requirements and at the same time reduce the risks associated with its business. “Proceeds of disposition, which includes movable property and intellectual property, will be used to support operations. Liberty and to implement various initiatives as part of its recovery strategy, “said the group in a statement. Liberty also announced last year the slowdown in its expansion to focus…

The IFC, a subsidiary of the World Bank in charge of the private sector, is the subject of a claim for environmental damage in an Indian project of energy plant that it has financed to the tune of 450 million dollars. The complaint was declared admissible on 27 February 2919 by the United States Supreme Court, which constitutes case law. Because until then, the World Bank and its dependencies enjoyed a certain immunity allowing them to escape the caudine forks of the federal justice. With this decision, is the WB now subject to accountability? This is the opinion in any…