Author: Editor

West Africa Rating Agency (WARA) announces the publication, on December 3, 2018, of the first rating of the Bank of Habitat of Senegal (BHS). On its regional scale, WARA assigns BHS the long-term rating of “BBB” in investment grade, while its short-term rating is “w-4”. The perspective attached to these ratings is stable. At the same time, on its international scale, WARA assigns to BHS the following ratings and perspectives: iB / Stable / iw-6. BHS was created in 1979 by the State of Senegal to finance the real estate sector in general, and social housing in particular. Today, BHS…

Coris Bank International launched “CORIS MONEY” on Friday, November 30, 2018 in Ouagadougou. It is an electronic purse that allows Burkinabe to send and receive money and pay bills and many other operations. Starting in 2019, Coris Money will be gradually rolled out in the group’s other subsidiaries in Côte d’Ivoire, Mali, Togo, Benin, Senegal and Niger. “CORIS MONEY” relies on a distribution network of 1,800 points of sale where it is possible to open an account. Speaking in the week of the financial inclusion of the BCEAO, this new product allows Burkinabe who do not have a bank account…

This transaction represents Vantage Capital’s 27th mezzanine financing transaction on three generations of mezzanine funds, with its mezzanine investment portfolio now spread across nine African countries. Africa’s largest mezzanine fund manager announced on December 3 that it has granted € 19 million of mezzanine financing to Pétro Ivoire, a leading distributor of oil and gas products in Côte d’Ivoire. The company, which operates a network of 72 service stations across the country (3rd network after Total and Vivo Energy), is also the leading gas distributor in Côte d’Ivoire, with more than 1.7 million gas cylinders in circulation by the end…

The Citi Foundation and JA Africa are pleased to announce the renewal of their partnership for another year. Citi Foundation’s programs that help young people, especially low-income youth, link education goals with skills development and employment motivated this partnership renewal. The program launches in seven countries. Through the ‘Turning Youth Potential into Enterprise Program’, JA Africa will reach 4,550 youth in school and out of school through two programs: JA Company Program and ITS TYME (Immersion Training Strategy Targeting Young Marginalized Entrepreneurs). The programs will provide young men and women with training that develops their understanding of business and entrepreneurship,…

AfricInvest, a leading pan-African mid-cap-focused private equity firm, is pleased to announce the final close of its North African Fund, Maghreb Private Equity IV (“MPEF IV”). The African Development Bank joined the third and final investment round, committing EUR20m to the fund and taking the fund’s total capital commitments to EUR194m, in line with the fund’s target size. MPEF IV is a 10-year fund managed by AfricInvest. It will invest in small and medium enterprises in North Africa (including Algeria, Egypt, Morocco, and Tunisia), looking to take substantial minority stakes. The fund’s strategy will target companies that are well-established in…

The StartUp Manifesto, Egypt’s first comprehensive documentation of the challenges facing the entrepreneurship ecosystem, is now launched and available online. An initiative powered by RiseUp, the Manifesto tackles the most pressing issues ranging from access to data, access to funding, the talent brain drain out of Egypt, investment opportunities and policies and regulatory requirements. Launched ahead of the 6th annual Riseup Summit, the Start-Up Manifesto is a reflection of this year’s theme “Aim High, Stay Grounded”, because, according to the team behind it, it “captures the realities on the ground and suggests solutions that can really make a difference.” A group of…

Published on December 1 in the Official Journal of the West African Economic and Monetary Union (WAEMU), the directive establishing audiovisual legal deposit in the eight member states of this zone is a world first. The only example of a Community initiative on audiovisual legal deposit, this directive will make it possible to organize the preservation of audiovisual heritage in an economic area of ​​112 million inhabitants including Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo. Audiovisual legal deposit is a legal device that allows states to collect audiovisual material for conservation, research and education purposes.…

By Valentine F. As the end of the year approaches, Qatar is stepping up strategic choice declarations to achieve diversification of its economy and self-sufficiency, driven by its recent five-year development plan. The Kingdom of Qatar airline has announced its possible separation from the Oneworld alliance. Qatar Airways could thus stand on its own. Akbar al Baker, president since 1997 held a speech on Tuesday, November 13 in Madrid at a conference organized by the International Air Transport Association (IATA). The origin of this position stems from the refusal of the founding companies of the alliance Oneworld to make agreements…

Central African Republic today in Cairo formalised its membership of the African Export-Import Bank (Afreximbank) with the deposit of the instrument of the country’s ratification of the Bank’s Establishment Agreement with the continental trade finance institution. Speaking during a ceremony at the Bank’s headquarters, Claude Rameaux Bireau, Minister of State and Economic Adviser to the President, who led a five-member delegation, said that Central African Republic had very high expectations from Afreximbank and looked forward to strengthened cooperation with the institution. Mr. Bireau said that Central African Republic would move quickly to take up shareholding in the Bank and announced that…

The African continent must no longer “outsource its security,” declared, in January 2017, Cheikh Tidiane Gadio, former head of Senegalese diplomacy, for nine years, under the regime of President Abdoulaye Wade. These remarks, made during the inaugural session of the fourth edition of an international exhibition dedicated to security and defense, held in Abidjan, signaled an urgency: we must find endogenous solutions to our defense and security problems. security, contrary to the sad reality that currently prevails in the Sahel, particularly in Mali. In a context in which the functioning of the African Union (AU), an annual budget of approximately…

Given by some observers as a winner in the first round of presidential elections in February 2019, President Macky Sall gave a show of strength during his inauguration by the Benno Bok Yaakar * alliance on 1 December in Diamniadio, 30 km away. north of Dakar. More than 15,000 activists were present in the den of “Dakar Arena”, a brand new sports complex delivered just three months ago. The inauguration held in the wake of the 26th Congress of Liberal International, saw Presidents Alassane Ouattara of Côte d’Ivoire, Adama Barrow of Gambia, Mohamed Abdel Aziz of Mauritania and George Weah…

President Joseph Kabila, who will not run for his own succession in the presidential, legislative and provincial elections on December 23, has some idea of ​​what he will be. The strong man of Kinshasa sees himself as a future farmer, respectful of nature and in love with the environment. Interviewed by Colette Braeckman of Belgium Evening, the most Congolese of Belgian journalists, Kabila said he will retire to his farms. “My farms, in Kingakati or Katanga, are the result of years of work, I built little by little … This is also a lesson I would like to give to…

Africa50, the pan-African infrastructure investment platform, has acquired 15% of the equity stake in the Nachtigal Hydro Power Company (NHPC) which runs the Nachtigal hydropower project in Cameroon. Under the terms of the agreement signed today in Yaoundé, Africa 50 purchased its stake from the Government of Cameroon, an Africa50 shareholder, helping free-up public funds for other pressing development needs. The project entails the construction and operation of a 420 MW hydropower plant on the Sanaga river near Nachtigal Falls, 65 kilometers from Yaoundé, as well as a 50 kilometer transmission line to Nyom. It will be operated under a…

By 2020, Africa will spend $7-15 billion annually to adapt to climate change, and the price tag could hit $50 billion by 2050. Fortunately, proactive policies and investments in sustainable development could unleash a wave of economic opportunity, which in turn could make adaptation more manageable. CAPE TOWN – The fight against climate change could be reshaped in the final month of the year, with the just-completed G20 summit in Argentina followed this week and next by the United Nations Framework Convention on Climate Change(COP24) in Katowice, Poland. But will leaders be bold enough to push for bold policies to keep…

The inauguration ceremony of the University of San Pedro was held on Friday, November 30, 2018 in the village of Goreke and Magne under the chairmanship of the head of government, Amadou Gon Coulibaly. This event is the first symbolic step for the construction of the future building. As part of the University Decentralization Program (PDU), the construction of the University of San Pedro is the subject of a public-private partnership with Envol Partenariats CI. According to the terms of the contract, the first students are expected in San Pedro in October 2020. EXCLUSIVE INTERVIEW WITH MADANI TALL: “THE TIME…

MTN Benin has signed a CFAF 75 billion loan from a consortium of banks including Societe Generale Benin through its structured finance platform, Structured Finance Group (“SFG”). The pool of banks participating in the loan includes Bank Of Africa Benin – Diamond Bank SA – Orabank Benin (Obbe) – Ecobank Benin – African Bank for Industry and Commerce (Baic) – Banque Populaire for Savings and Credit (Bpec) – Bsic Benin Sa. The CEO of the company, Stephen Blewett, welcomes these competitions spread over a maturity of 7 years. “This is the largest loan ever granted in the telecom sector in…

Founder and 100% owner of APO Group, Nicolas Pompigne-Mognard, 43, will become Chairman. His focus will be on delivering high-level counsel for APO Group clients and developing his own investment fund dedicated to Africa. Lionel Reina has over 25 years of senior management experience and has a strong history of providing effective leadership and delivering significant growth. From 2003 to 2012, he was Vice President and General Manager for Eastern Europe, the Middle East and Africa at Orange Business Services, the B2B division of French telecoms company Orange – a remit that covered more than 80 countries. He was made…

Speaker line-up features Minister of Tourism, Minister of Social Solidarity, over 200 start-ups, executives from Uber, Facebook, Microsoft, IBM, Pepsico Vodafone Egypt & more   Content zones in on local perspectives, grounded experiences The 6th Annual RiseUp Summit revealed its three-day agenda, featuring talks by Her Excellency Rania Al Mashat, Egypt’s Minister of Tourism, Her Excellency Ghada Waly, Minister of Social Solidarity,  content from over 200 participating start-ups from the Middle East and North Africa, talks and workshops by executives from Uber, Facebook, Microsoft, IBM, Pepsico, Vodafone Egypt  – all focused on Grounded Experiences – real challenges facing entrepreneurs in…

Africa50, in partnership with Energy Futures Initiative (EFI) has announced the U.S. launch of the gas report Investing in Natural Gas for Africans: Doing Good and Doing Well during a ceremony held yesterday at the Atlantic Council Headquarters. In June 2018, Africa50 commissioned a report from EFI to analyze the opportunities and benefits of natural gas development in Africa. The study explores the scale of potential domestic demand by mid-century, and the technologies that can help increase this demand and the concomitant supply and infrastructure. Speaking at the ceremony, Former U.S. Secretary of Energy and EFI founder, Secretary Ernest J. Moniz, said in his opening…

The African Export-Import Bank (Afreximbank) yesterday in Moscow signed a memorandum of understanding (MoU) with Russian Railways and the Russian Export Center (REC), agreeing to cooperate in implementing export and investment projects in the railway sector in Africa. Under the terms of the MoU, the parties will cooperate by undertaking mutual consultations on export and investment projects in the railway sector abroad and by jointly developing project financing schemes in the sector. Prof. Benedict Oramah. President of Afreximbank, signed the document on behalf of the Bank while Oleg Belozyorov, Director General of Russian Railways, and Andrey Slepnev, Director General of REC,signed for their…

The Lebanese pseudo-distribution of power in Central Africa has not, it seems, stolen. But the dismissal on 26 October of Abdou Karim Meckassoua for alleged financial malpractice and his replacement by El Adj Laurent Ngon Baba at the head of the Central African Parliament, continues to fuel the controversy and conjectures in an atmosphere of recovery of hostilities on all fronts. In the aftermath of this destitution caused by persistent rivalries between the former president of parliament and the president Augustin-Archange Touadéra, the ex-rebels of Séléka, who support Mackassoua, had given 48 hours to the representatives of the State to…

While President Ali Bongo, recovering in Riyadh, is announced sometimes in Paris, sometimes in Rabat, a new movement, called TGV (High Speed ​​Train), is launched in Libreville with the destination of the presidential palace. His goal, wearing Jean Ping at the head of Gabon. Initiator of the movement, the Coalition for the New Republic (CNR) announces next week several events in Libreville and inside the country. CNR President Jean Eyeghe, a former Prime Minister, called on Gabonese people at a rally on Monday (November 26th) to demand respect for the constitution he violated, and demand that Jean Ping be installed…

– 9 Heads of State expected at the Forum as Egypt takes over chairmanship of the African Union in 2019 – Some of Africa’s leading industrialists will be participating in the Forum – The Forum will also host the largest exhibition of African Investment Promotion Agencies The organisers of the Africa 2018 Forum have announced that nine heads of state have confirmed their participation as well as some of Africa’s leading industrialists. They had over 4,000 requests for registration with nearly 2,000 expected delegates. The Forum this year will put a strong emphasis on youth and women with a…

Ecobank is back on the debt market. This is a sign of an ever-pressing need for funds to finance an ambitious development plan for 36 African countries and continued high operating costs, despite efforts made over the last three years under the leadership of Nigerian CEO Ade Ayeyemi. The good news is that the market still gives credit to the bank’s signature. For example, the loan loan was oversubscribed for $ 268.5 million, with Ecobank Transnational Incorporated (ETI) increasing Deutsche Bank’s arranger mandate from $ 150 million to $ 200 million. This funding supports ETI’s goal of maintaining a diversified…

On the sidelines of the African Week of Industrialization, which began on November 19 in Addis Ababa under the aegis of the Trade and Industry Department of the African Union Commission, the Nigerian Minister of Industry, Malam Zanaidou Amirou, presented the strategy of his country in this matter. Here are the highlights. “The role of industrialization is clearly enshrined in the African Union Plan of Action for Accelerated Industrial Development of Africa, and the Third Decade of Industrial Development for Africa,” says the Minister from the outset Nigerian, recalling the importance of Agenda 20163, “the African Union’s strategic framework for…

Eight years after his report on “Lions in motion, the progress and potential of African economies,” McKinsey and his leading economist Acha Lake, return with a new study on “Africa’s extraordinary growth potential.” Africa is on the path to an unprecedented acceleration of its economic growth, similar to that experienced in Asian markets. This is the main conviction of McKinsey’s new book on the African economy. Global companies that enter these markets early with perfectly targeted strategies could, like growing African champions, benefit from double-digit revenue growth over the coming decades. In “Africa’s Business Revolution: How to Succeed in the…

The bankruptcy of Samir, the first Moroccan refiner, extends to the property of some directors and, in particular, those of the CEO, Jamal Bâ Amer, right arm of the majority shareholder, the Saudi billionaire Hussein Al Amoudi, himself concerned by the procedure. The Casablanca Commercial Court found the management fault against the former CEO and other members of the board of directors, including the CEO. As part of this procedure, the Commercial Court of Casablanca has auctioned off a villa of Mohammed Jamal Baamer located in Rabat and worth 16 million dirhams. The sale is scheduled for 6 December 2018…

African Media Agency (AMA)/- Africa Finance Corporation (“AFC” or “the Corporation”), the leading infrastructure development finance institution in Africa, is pleased to announce it is to invest in the Nachtigal Hydro Power Company (“NHPC”), located 65KM north of Yaounde in Cameroon. The EUR 1.2 billion power generation project will consist of a 420MW hydro-electric power station as well as a 50KM transmission line. The financing structure will take a 76:24 debt to equity ratio, with AFC providing EUR 50 million in debt and an additional 18-year interest rate swaps of up to EUR 75 million. Construction is expected to commence…

By François Lamontagne. Received with great pomp by Emmanuel Macron in Paris, Djibouti President Ismaïl Omar Guelleh continues to persecute his people and turns his back on his former Western allies. Ismaïl Omar Guelleh at a “Forum for Peace”: the image would have something to smile about, if it was not so sadly ironic. The autocrat of Djibouti, nicknamed “IOG”, was indeed invited as number of heads of state and government to attend the official ceremonies commemorating the centenary of the armistice, as well as the Forum for Peace organized in Paris by Emmanuel Macron, at the beginning of November.…

The International Bank for Trade and Industry of Côte d’Ivoire (BICICI) announced that it has entered into “promising” contacts with French businessmen on a prospection mission to Côte d’Ivoire from 07 to 09 November 2018. the FICIA framework “, the International Trade and Industry Forum in Abidjan. According to a press release issued for this purpose, the bank “participated fully” in the activities of a delegation of 30 French business leaders, led by the Chairman of the Lorrain Committee of Foreign Trade Advisers of France, presenting its local and international financing solutions “both for the Corporate and for the offer…