Author: Editor

The West African Development Bank (BOAD) will celebrate the 14th of November, its forty-fifth anniversary. This commemoration will be under the sign of reflection. Thus, on this occasion, a high-level forum will be held in Lomé, Togo and will be on the theme: “Solar energy in the economy of WAEMU countries: state of play, issues and policies”. This forum will review various issues related to the theme of renewable energies and particularly solar energy including: i) the state of play of the market and the ecosystem in connection with the strategies for the development of the solar energy in…

The man considered the youngest billionaire on the African continent, the Tanzanian businessman Mohammed Dewji, was kidnapped Thursday by gunmen in Dar es Salaam (Tanzania), official sources said. A 43-year-old METL Group leader in a dozen countries in the fields of agriculture, insurance, transport, logistics or agribusiness, Mr. Dewji was kidnapped while entering the gym of a hotel in the economic capital of the country, specified the administrative and police authorities. “The first information indicates that he was kidnapped by whites from two vehicles,” Dar es Salaam governor Paul Makonda told reporters, adding that “this type of incident is new.…

BESIX Group S.A., SIXCO (subsidiary of BESIX Group) and TGCC were awarded the design and construction of “Bank of Africa Tower”. It will culminate at 250 meters and can claim the title of the tallest tower in Morocco and Africa. On Thursday, October 4, 2018, in Dubai, BESIX, SIXCO and TGCC signed a contract for the design and construction of the “Bank of Africa Tower” developed by O TOWER, a subsidiary of the FinanceCom Group. CRCCI will continue to accompany the new winning group. The work will begin November 1, 2018 and will be delivered on May 30, 2022.…

At the end of the first half of 2018, the BGFI Bank Group’s net banking income rose by 4% to 102 billion CFAF *. This is apparent from the meeting of the group’s board of directors held on September 28 in Sao Tome under the chairmanship of Henri Claude Oyima. In a context of innovation and transformation of its service offering, the first commercial bank in the CEMAC * zone improved its financial solidity and confirmed the relevance of its model. Thus, the net result stands at 15 billion FCFA, up 6% compared to the first half of 2017. For…

The latest report of the Intergovernmental Panel on Climate Change (IPCC), published on Tuesday, October 8, 2018, warns of the need to do everything possible globally to limit global warming to 1.5 degrees. With such a base, this report even states conclusively that the consequences of such a warming would be severe for life on Earth as well as for the health of our economies. Occasion could not be better hoped to resume my pen of “think differently” to, through these few lines to question me on the relevance of the management of the environmental problem. Of course, we will…

From our special envoy to Tsaghkadzor, Antoine Lawson More than 270 participants, members of the International Union of Francophone Press (UPF), from 40 countries, are in conclave from 9 to 12 October in Tsaghkadzor, a town located about sixty kilometers from Yerevan, the Armenian capital, on the occasion of the 47th international meeting of the corporatist organization. Armenian UPF Section President and UPF International Treasurer Zara Nazarian, who worked for the success of this meeting on “Media and Migration”, thanked participants at this meeting. Before recalling that they “coincide with the Summit of La Francophonie”, whose theme is “Living together”.…

Mamoudou Ibra Kane, Alassane Samba Diop, Boubacar Diallo, aka Dj Boubs and Mamadou Ndiaye, associated with leading partners, launched on 8 September 2018, a multimedia press group called e-media Invest. This is an integrated media platform including an emedia.sn site, which switched on October 11 at midnight. The radio should follow shortly, according to the promoters. Ditto for TV. Men of media cumulating several years of services, the promoters are part of the most famous journalists and animators of Senegal.

Informal trade has taken off in the streets of Libreville, the capital of Gabon, in recent years and is a lucrative business that bursts several billion CFA francs per year, according to an estimate by the Ministry of Finance and Finance. Economy. In addition to escaping the control of the state, it disturbs the public authorities. The once-virtually informal sector did not really come into existence with rampant inflation that began in 1986. During the 1993-1995 period, prices had risen from 32.4 to 35.6% and in a smaller 1996. Informal trade has created waves of inflation spontaneously maintained by traders…

The delegations representing the four governments of Canada members of the International Organization of La Francophonie (OIF) went to Yerevan with a determination to promote the French language and preserve the fundamental values ​​that must be defended at all costs by the Francophonie. Fundamental values ​​such as the rule of law, respect for human rights, democracy and freedom of expression, which are cherished by Canadians, and which Canada is continually promoting in Canada. OIF. Before flying to Yerevan, where she participated in the Ministerial Conference of Francophonie (CMF), on October 8 and 9, the Canadian Minister of Tourism, Official…

The Mo Ibrahim Foundation (MIF) is pleased to announce the launch of the 12th annual Ibrahim Index of African Governance (IIAG), taking place on Monday 29 October 2018, when the results and analysis will be shared with the public at mo.ibrahim.foundation. To mark the launch, Dr Mo Ibrahim will participate in a Facebook Live event to discuss this year’s striking results and the trends measuring Africa’s public governance progress. Mo will be joined by a panel of African experts representing the continent’s growing next generation voices, Yvonne Apea Mensah from Ghana and Nasi Rwigema from South Africa, who will provide their…

The Air Senegal SA company following the defunct Air Senegal International (ASI), a joint venture with Royal Air Maroc, which went bankrupt in 2009 and Senegal Airlines (controlled by the State, which went bankrupt in 2016) will it meet with more merciful heavens? Under the direction of Philippe Bohn, former Africa director of the EADS group, the new company Air Sénégal SA launched on October 5, 2018 its first international flights, with Abidjan (Ivory Coast) and Cotonou (Benin) thanks to an Airbus A319 belonging to the aircraft charterer Avolon (Chinese conglomerate HNA). The lease of a second A319 will “make…

The Gabonese authorities can blow. The rating agency Fitch Rating has just reduced the perspective attached to the rating of the country from “negative” to “stable”. This is a positive prospect for strengthening the appreciation of the signature of this small oil country around “B”, common note to almost all countries in sub-Saharan Africa. According to Fitch Ratings, the Extended Credit Facility (MEDC), which the government has signed with the International Monetary Fund (IMF), has helped the country limit its cash flow. The agency also believes that the reforms initiated by the government are going in the right direction. “Following…

Bpifrance creates an Executive Direction of the Export. It groups together all insurance and export financing activities, as well as export development and support actions. “This continuum of solutions offers companies a unique and complete range of financial tools, to simplify their access to international markets and support them in their ambitions of setting up abroad,” reads a statement dated October 10 2018. Bpifrance offers a range of solutions for export that covers all the needs of a company wishing to develop internationally: International Growth Loan, Export Credit, Support for development or implementation (in partnership with the Team France Export,…

The great finance financier of South Africa, Nhlanhla Nene, may be targeted by an investigation for its proven links with the sultry family Gupta, the country’s public debt is still sought after. Despite uncertainties about the future of the Minister of Finance, authorized traders placed $ 7.04 billion ($ 485 million) in underwriting demand, nearly three times the 2.4 billion rand (166 million dollars) of securities offered for sale at the weekly Treasury auction held on Tuesday, according to data published by the Central Bank. An appetite for South African bond paper confirmed by Ashley Dickinson, head of fixed income…

The national branch of the Regional Stock Exchange (BRVM) in Togo officially announced Monday, the next “BRVM Days” which are held on October 18 and 19, 2018 in Lome. Organized under the patronage of Sani Yaya, the Minister of Economy and Finance of Togo, the event aims to raise awareness of innovative financial products and services to businesses and investors in Togo. It also aims to continue promoting the BRVM and boosting the regional financial market, said Bertrand Bodet, director of the national antenna. It is also a question, for the BRVM, to increase the practice of the stock market…

As part of President Weah’s health program to relieve the most vulnerable people, the Liberian government has signed a five-year partnership agreement with the international aid organization Mercy Ships in October in Monrovia to expand surgery, increase training and staff assistants working in the country’s health sector. According to Mercy Ships Ceo Donovan R. Palmer, this partnership aims to increase access to surgical operations and the capabilities of health personnel. Mercy Ships will provide technical assistance to integrate surgery, obstetrics and anesthesia into Liberia’s health plan strategies with the support of the local Oms office, which acts as the consultant…

Finance Ministers are mobilizing for increased domestic resources and money laundering. The finance ministers, the presidents of the regional institutions and the governors of the central banks and the Franc Zone met on Monday, October 8, under the presidency of Mr. Bruno Le Maire, Minister of Economy and Finance of the Republic French at Bercy in Paris. In an economic context marked by the resumption of growth across the African continent, ministers reiterated their desire to implement sustainable economic policies focused on strengthening the domestic resource mobilization (target of 20% of GDP ) and diversification in order to limit the…

The Regional Stock Exchange (BRVM) of the West African Economic and Monetary Union (UEMOA) launched Tuesday, October 3 in Abidjan a contest to select young talents, natural persons or startups established in the UEMOA region, innovative projects bearers or of research topics of interest in finance. “The projects must aim for the realization of a technological solution in response to a current or future problem in the financial sector,” said the BRVM in a statement. The BRVM has set up a laboratory for digital and financial technologies and wants to support the sub-regional financial system in innovation and anticipation of…

The action of the club Juventus of Turin collapsed by 9.2% this Friday following the dissemination of information in the wake of the campaign “me-too”. A 24-year-old American girl at the time said she was forcibly sodomized by Cristiano Ronaldo in 2009. The announcement followed a spiral of decisions and counter-decisions. The Nike equipment manufacturer, who signed a lifetime sponsorship deal with the captain of the Portugal team, said he was “worried” by these worrying accusations. Even more expeditious, EA Games, which publishes the FIFA 19 video game, has withdrawn the Portuguese from its online promotional material. An investigation was…

The Board of Directors of the Islamic Corporation for the Development of the Private Sector (ICD) in its 91st Meeting held on 3/9/2018 approved appointment of Mr. Ayman Amin Sejiny, as General Manager (CEO) of ICD. Dr. Bandar Hajjar, the President of IsDB and Chairman of ICD Board of Directors said: “After a rigorous search, the Board concluded that Ayman’s considerable experience in banking sector, along with his strong track record of success as a CEO, made him the outstanding candidate for the role. Mr. Ayman has demonstrated throughout his career the ability to work successfully in different environments, designing…

Abax Corporate Services (ABAX), a leading provider of fiduciary, advisory and business services to Africa, the Middle East and Asia, will now operate under the name of Ocorian to reflect the new ownership structure than the broader international scope of its financial services and growth support. Abax Corporate Services was acquired by Ocorian (an international specialist financial services provider) in April 2018 in support of an international expansion strategy targeting mainly Africa and the Middle East. ABAX’s current management team, headed by Richard Arlove, remains in place to carry out Ocorian’s new regional operations with the support of a team…

Of the 27 leaders of insurance companies to have approved and signed the proposed constitution of the oil pool in Senegal, he is the only one to hesitate, breathed in this market chatter insurers. Sacred Francis Baku. The former Golden Boy of the Abidjan trading company now holds the baton of Senegal’s insurance marshal. With acquisitions and lucrative contracts, Baku is in the process of taking the leadership of the sector. The acquisition of one of the largest companies in the CIMA zone, formerly AGS, today Amsa, revealed the strategist. The recent signing of large contracts with Senegalese public entities…

The news fell on October 3rd. The Tunisian state sold its 67% stake in the Zitouna Bank and its 70% in the Zitouna Takaful insurance company for a total of 370 million dinars, or 112 million euros (or 73.5 billion euros). CFA). The buyer, the local subsidiary of the Qatari Majda Group, won the bid against the Moroccan-Qatari consortium formed by the CIH bank, the Caisse de dépôt and Gestion (CDG) and the QIIB (Qatar international islamic bank), the majority shareholder. Ecobank and the largest banking group in the Middle East. Recall that Burkinabé Coris Bank and the Moroccan BCP…

By 2022, all Gabon’s forest concessions must be certified “Forest Stewardship Council (FSC)” announced Gabonese President Ali Bongo Ondimba, September 26, passing through the Rougier Gabon’s sawmills Mvang, North country. an ecological act that could be interpreted at the strategic level by a discreet desire to reposition the French and European actors undermined by the Chinese and Asian steamroller. The day after this decision, the Nkok Special Economic Zone set up a certification office. In this context, a service contract was signed on October 3, 2018 between the French company of forestry and industrial wood engineering, FRMi, and the…

Commodity trader and Glencore’s Black Beethoven Empowerment (BEE) partner, Off The Shelf Investments (OTS), completed the $ 973 million acquisition of Chevron’s downstream assets in South Africa. With this acquisition funded by Glencore, OTS increases its stake from 23 to 98 percent in Chevron South Africa (CSA). The remaining 2% is held by employees. The deal comes after a barrage against the Chinese Sinopec who wanted to acquire 75% of CSA. The acquisition includes a 100,000 bpd refinery in Cape Town, a lubricant plant in Durban and 850 service stations and storage facilities. The transaction also gives OTS a…

The facility from CEXIM marks AFC’s inaugural financing facility from the People’s Republic of China (PRC) Africa Finance Corporation (“AFC” or “the Corporation”) (www.AfricAFC.org), the leading infrastructure development finance institution in Africa, announces its successful acquisition of a loan facility from the Export-Import Bank of China (“CEXIM”) of a US$200m 5-year loan and a US$100m 5-year stand-by facility for general corporate purpose. The facility from CEXIM marks AFC’s inaugural financing facility from the People’s Republic of China (PRC). This follows the Corporation’s strategic focus to build a broad coalition of investors by diversifying its fundraising activities to include all sources of…

The African Export-Import Bank (Afreximbank) has taken its recently-introduced Afreximbank Trade Facilitation Programme (AFTRAF) to Guinean banks, telling representatives of the Guinean banking sector that the programme will lead to improved support from Afreximbank. Speaking during an interactive session in Conakry, the Afreximbank delegation said that AFTRAF would allow the Bank to increase its intervention capability, expand correspondent banking relationships and improve trade operations. Ismael Kamara, Manager in Trade Finance, said that the local banks could use the confirmation guarantee facility to expand their correspondent banking relationships, adding that Afreximbank would ensure that the pricing for the programme was…

Faced with the heavy fire of the French journalists who interviewed him for a long time in the festivities of the 2nd of October, the anniversary of the independence of Guinea, obtained 60 years ago, Alpha Condé loses his countenance to the first question: “what is the African country that has not taken off? “. The strong man of Conakry seems all along the interview to look for a person responsible for the current difficulties of his country. Decryption. “You say that Guinea has not taken off, what is the African country that took off …? “As if his own…

China is set to overtake the US to emerge as the biggest retail deposit market globally in 2021, according to leading data and analytics company GlobalData. The company’s Global Retail Banking Analytics tool, which has recently published an update on consumer deposit markets globally, reveals that Asian markets have and are expected to perform strongly between 2010 and 2021, while Europe and to a lesser extent, North America, have stagnated. Macroeconomic growth has led to rising wages and living standards across Asia, increasing the ability of consumers to save. GlobalData’s Retail Banking Analyst Sean Harrison, says: “Following the 2008/09 financial crisis banks…

According to a new report from the World Bank, economic growth in the Middle East and North Africa (MENA) region is expected to rebound to an average of 2 percent in 2018, compared with 1.4 percent in 2017. This moderate rebound is mainly due to by the recent rise in oil prices, which has benefited the oil-exporting countries, but has increased the pressure on the budget of the importing countries. It also reflects the impact of the modest reforms and stabilization efforts undertaken in some countries in the region. The pace of growth, however, is insufficient to create jobs that…