Author: Editor

Congo Business Network is hosting its fourth online event on January 5, 2019 on Cisco WebEx from 18:00 to 19:30 Kinshasa time. The theme of this conference is: The Role of Chambers of Commerce in the Development of Congo.

The African Export-Import Bank (Afreximbank) has signed a financing agreement with Securiport SUARL, Senegal, to provide Securiport with a $15-million term loan to finance the design, construction and commissioning of a civil aviation and immigration security system for the Juba International Airport in South Sudan. The facility, which was approved for five years, will assist South Sudan to modernize equipment and systems at the Juba International Airport, leveraging on future flows of airline fees. Speaking during the signing ceremony at the Afreximbank Headquarters in Cairo on Thursday, Prof. Benedict Oramah, President of the Bank, highlighted the importance of transport links and logistics…

By Valérie K. The Sudanese government approved the 2019 budget on Wednesday (December 19th). The text forecasts an economic growth of 5.1% in 2019 against 4% in 2018, as well as a reduction of the budget deficit to 3.3%. According to government forecasts, exports are expected to grow by 30 percent while state revenues increase by 39 percent next year. “The 2019 budget is based on real resources and disciplined spending,” said Moataz Moussa, Sudan’s prime minister. The government plans to focus on increasing production of oil, wheat and sugar and significant investments in the digital economy, he added. Sudan…

By Valérie K. Chaired by Trade Minister Said Djellab, a national meeting was held on December 17, 2018 in Algiers, focusing on export success for income diversification. In the long term, banks were asked to support economic operators and a simplification of administrative procedures. It is indeed more commitments for the extension and strengthening of the prerogatives of the entities concerned by the promotion of foreign trade. Participants also noted the need to establish an Export Skills Upgrade Fund to support training programs that focus on skills needed for export. They stressed, moreover, the importance of targeting high-growth foreign markets…

In a joint statement released on December 20, 2018, Maryse Jamain, CEO of Brazzaville MBA and Guy Gweth, President of the African Center for Business Intelligence and Intelligence (CAVIE), announced the signing of a strategic partnership to to increase the exposure of Congolese decision-makers to economic intelligence. On December 20, 2018, Brazzaville MBA and CAVIE entered into a strategic partnership agreement. Objective: to reinforce their respective capacities in terms of training and support for Congolese students, companies, executives and decision-makers. The 2019 agenda For the year 2019, the parties plan five main activities in Brazzaville: Launch…

By Cédric T. The Algerian telephony operator Djezzy, 51% owned by the National Investment Fund (FNI), registered an increase of one million subscribers in 2018, now with 15.6 million subscriptions, an increase of 4.7%. This boost, it is said, also resulted in an increase in the company’s 49% -owned turnover by the Russian-Norwegian telecom group Veon. In the third quarter of the year, the semi-public telephone operator posted sequential growth of 5.6% (around 180 million euros). For its part, data revenue grew by 71.8% in one year thanks to the growing use of the mobile Internet, according to Matthieu Galvani,…

By Cédric T. The South African government has launched the Project Development Partnership Fund (PDP), a joint venture to finance technology companies to address the country’s socio-economic challenges, in collaboration with the management body of the public service pension fund (Public Investment Corporation) and the Unemployment Insurance Fund (UIF). It is a fund that aims to finance small start-up companies developing technological solutions. With a starting point of approximately $ 141 million, it will focus on SMEs and start-ups in the agri-food, ICT, water, infrastructure, food and beverage industries. housing, manufacturing. According to Mildred Oliphant, Minister of Labor, “There is…

By Valérie K. Stanbic Bank Ghana’s Managing Director and President of the Alhassan Andani Association of Bankers of the Country (GAB) has been recognized as the best CEO of the banking sector at the inaugural Ghana Industry CEO Awards 2018 held on December 7, 2018. “This is the culmination of a collective effort to provide not only excellent and tailored banking solutions, but also a commitment to creating a strong and respected banking sector in Ghana. So it’s entirely appropriate that I dedicate this recognition and this award to the wonderful team I work with at Stanbic Bank, “he said.…

By Cédric T. Emergent Technology Holdings Ip, a US financial company, is buying up the shares of Ghanaian Interpay Africa, which will have to change its name shortly. “Africa offers opportunities for growth in e-commerce. The young population is rapidly adopting technological innovation and is demanding more and more goods and services, local and foreign. The landscape of payment companies is growing rapidly. We are delighted to be part of Emergent Technology’s vision of advancing local payment services in the region, “said Saqib Nazir, CEO of Interpay Africa. Founded in 2017 and headquartered in Santa Clara, California, Emergent Technology Holdings…

By Valérie K. It was from Paris that Senegalese President Macky Sall announced on December 18, 2018, his decision to put an end to the tax exemption granted for several years to cement plants installed in the country. “They have to pay the taxes,” he said during the second fundraising day for financing the second phase of his Emerging Senegal Plan (PSE). “Exemptions can be understood when one is in an exploration phase. For example, for mining, oil or gas companies that are doing exploration that is at risk of losing a lot of money, “said Mankeur Ndiaye, chairman of…

The Africa Road Builders – Trophée Babacar NDIAYE is honored to announce that its Inaugural Conference 2019 will be held on March 21 in Nairobi, Kenya. This conference marks the launch of the 4th edition of this prestigious event which will culminate in the presentation of the Babacar NDIAYE Trophy, scheduled for June 12, 2019, at the Annual Meetings of the African Development Bank (AfDB) in Malabo in Equatorial Guinea. The Inaugural Conference in Nairobi will focus on this year’s theme: Mobility, Regional Integration and Africa’s Economic Prosperity. It will also translate a tribute to President Uhuru KENYATTA,…

 SouthBridge Group announced today that Andrew Alli, former CEO of Africa Finance Corporation, will join and lead the SouthBridge group as CEO.   SouthBridge Group announced today that Andrew Alli who stepped down in July as Head of the Africa Finance Corporation will join the firm in the new year as its Chief Executive Officer (CEO). A dual citizen of Nigeria and the UK, Andrew is a Chartered Accountant, who holds a BEng in Electronics and Electrical Engineering from King’s College, University of London, and an MBA from INSEAD. After a decade at the International Finance Corporation (IFC) in different positions including Country…

He could give you his full attention for a few seconds and leave you with the feeling you mattered. This is a quality you will recognize in very few individuals. It is emotional and profound. That’s because people occupying powerful positions more commonly portray arrogance and impatience. It could be true such people are usually quite busy, which explains their limited time for kindness or small talk. That is the normal behaviour you sort of expect. And, then, there was the Kofi Annan way. From a secular pope to a rock star of diplomacy, from a Nobel Prize laureate to…

Congo Business Network is planning its third online event on Saturday, December 15, 2018 on Cisco WebEx. Noel K. Tshiani, president of Agere Global, took the initiative to organize this event on the theme: Entrepreneur from the diaspora: How do you register a company in Congo? Confirmation of participation will take place through LinkedIn Events, where nearly 300 people have already confirmed their willingness to participate in this highly anticipated event by entrepreneurs from the diaspora, especially in America and Europe. There are nearly 400,000 Congolese in these two continents, according to the latest available statistics from the Canadian and…

The latest news at the BRVM (Abidjan), the Casablanca Stock Exchange, Tunis, Douala and the JSE do not allow to establish a uniform trend. African markets remain volatile and a bit bearish. -After the launch of the first cohort on March 19, 2018, the Regional Stock Exchange (Brvm) will proceed on Monday, December 10, at...

A high-level meeting between the Regional Council for Public Savings and the Financial Market (CREPMF) and the issuers of securities listed on the Regional Stock Exchange (BRVM) should take place in Abidjan. The agenda is important. As part of the actions to enhance the attractiveness of the regional financial market and in the margin of...

Paul-Harry Aithnard succeeds Charles Dakoiko (called on to retire) at the head of Ecobank Côte d’Ivoire. The decision taken last August and confirmed at the end of the ordinary and extraordinary general meetings of 4 December 2018 in Abidjan, must still receive the approval of the Banking Commission of the Central Bank of West African...

Officially, it is for violating the US embargo against Iran that Meng Wanzhou, 46, chief financial officer of Chinese telecoms giant Huawei and daughter of group founder Ren Zhengfei, was arrested on Saturday, December 1st. The United States issued an arrest warrant against Meng on August 22nd. In fact, this arrest occurred in a third country (Vancouver, Canada) and while a few thousand miles away, Donald Trump and his American counterpart, were tasting a steak, in a reunion on the sidelines of the G20 supposed to end to their trade war, is a new testimony of Washington’s unilateralism in…

Summoned to choose his side, Guillaume Soro, president of the national assembly of Côte d’Ivoire, is, more than ever, back to the wall. His refusal to take a stand between the supporters of the unification of the parties of the presidential majority and those who hold the independence of the PDCI of Henri Konan Bedié,...

By Magaye Gaye * France does not seem willing to restore all the works of art stolen from Africa during colonization. Of the 90,000 works officially listed, representing 90% of the cultural heritage produced during the occupation, it seems for the moment to be willing to return only 26 in Benin, which is insignificant. This attitude reflects an unsuitable state of mind exacerbated by legislation to protect an ill-gotten legacy. In fact, Article 3111-1 of the General Code of Public Ownership stipulates that “The property of public persons in the public domain is inalienable and imprescriptible. More specifically, the Act…

Senegal plans to acquire two new ports (Ndayane and Sendou) to replace the Autonomous Port of Dakar, almost suffocated by the volume of traffic and left behind by the ports of Lome, Lagos, Tema and Abidjan. Thus, the port of Ndayane (50 km south of Dakar), devolved to DP Word, will start in 2019 for...

By Valérie K. South African President Cyril Ramaphosa announced on Friday (December 7th) during a speech in Johannesburg that South African workers will benefit from the minimum wage as of January 1st, 2019. It is a minimum wage of 20 rand or 3,500 rand (244 euros) per month on a 42-hour basis per week, which should benefit 70% of agricultural and 90% of the house staff, according to the authorities. “This is a historic step forward for South African workers, who have been exploited for generations,” said the South African president. In power since February 2018 after the resignation of…

By Valerie K. The Chadian Minister of Finance and Budget, Allali Mahamat Abakar, and the Ambassador of France to Chad, Philippe Lacoste, signed Thursday, December 6 in N’Djamena, two financing agreements for a total amount of 50 million euros . This assistance is part of the economic and financial program launched in 2016 between the two countries. According to Mr. Lacoste, the first convention is a donation of 10 million euros which “will be entirely allocated to the health sector. This will include ensuring budget allocations for the country’s main hospitals and the National Blood Transfusion Center, as well as…

By Cédric T. The construction of the Taïba Ndiaye wind farm (PETN) in western Senegal was initiated by the initiators of the “first industrial scale wind energy project in West Africa”. “The project combines the supply of electricity to two million Senegalese to a significant local socio-economic impact throughout the duration of the project,” says Chris Antonopoulos, Chairman and CEO of Lekela, the project’s financial partner. cost is estimated at CFAF 150 billion. “With a capacity of 158.7 MW that will be sold to Senelec, the Taïba Ndiaye Wind Farm will position Senegal as a pioneer of clean, reliable and…

The Banque Centrale Populaire (BCP) will accompany Senegal in phase 2 of the Emerging Senegal Plan which will be launched on the sidelines of the Consultative Group scheduled for Paris on December 18th. “This commitment will be multifaceted, and aligned with the government’s ambitions for extractive industries, but also the development of agriculture, including the groundnut sector, and further strengthening of infrastructure,” Kamal said. Mokdad, director general of the BCP in charge of international development. Visiting Senegal, on December 4, at the head of a large delegation of bank executives, Mr. Mokdad recalled the constant commitment of the bank in…

The 100% independent portfolio management company, Harvest Asset Management has chosen the asset management software ATLANTIS SGO, developed by INEXA CÔTE D’IVOIRE, to manage its portfolio management activity in order to respond more fully and optimally the investment and investment needs of its clients. Douala, December 4, 2018: ATLANTIS SGO is a platform that offers Harvest Asset Management modules allowing it to manage the life cycles of all the funds entrusted to it in a simple, transparent and optimal manner. This solution includes several advanced features such as its automation, intuitive user interface and strong data capture capabilities that are…

Sawari Ventures today announced the US$35 million first closing of Sawari Ventures North Africa Fund I (SVNFI) during a press conference on the sidelines of the Africa 2018 Business Forum in Sharm El Sheikh, to invest in technology and knowledge driven companies in Egypt, Tunisia and Morocco. The first closing investors are composed of global financial institutions including the European Investment Bank (EIB), the UK’s CDC, the French Development Agency’s private sector financing arm Proparco and the Dutch Good Growth Fund (DGGF) managed by Triple Jump. Sawari Ventures will be soon announcing the closing of an Egypt only fund in…

As part of its commitment to make entrepreneurship more inclusive in the 22 Member States it serves, the Eastern and Southern African Trade and Development Bank (TDB) is signing today an MOU with Enat Bank. The MOU will support Ethiopian SMEs, with a special focus women-owned and managed export-oriented businesses. The MOU is signed by Admassu Tadesse, TDB President and Chief Executive, and Wondwossen Teshome, Enat Bank President, in the presence of H.E. Hailemariam Desalegn, Former Prime Minister of Ethiopia, H.E. Rupiah Banda, Former President of the Zambia and Member of the TDB Eminent Panel of Advisors, H.E. Meaza…

By Cédric T. Since 3 December 2018, Togo has become the 20th member state of the Africa Finance Corporation (AFC), an infrastructure development financial institution dedicated to Africa. “A few months ago, we followed the presentation of the country’s ambitious program to modernize its economy, and in particular its infrastructure, through the PND (National Development Plan) announced last August. As the leading African investor in the sector, we are ready to support Togo in the financing and development of its infrastructure, “said AFC President and CEO Samaila Zubairu in a statement. To face up to its various socio-economic challenges, Togo…

By Valérie K. Togolese President Faure Essossimna Ganssingbé on Monday (December 3rd) laid the foundation stone for the construction of a Carrier Hotel, the very first data center in Togo. The infrastructure is financed by the World Bank under the West African Regional Communication Infrastructure Development Plan (WARCIP). It will require an investment of 15.3 million euros, and its work will end in 15 months from January 2019. According to the Minister of Posts and Digital Economy, Cina Lawson, it is about “A real opportunity for Togo, which will enable the country to significantly improve the lives of its citizens…