Author: Editor

By François Conradie, NKC African Economics. During the two decades following the end of apartheid in 1994, South African banks, like other South African firms, sought to expand north of the Limpopo River, thinking they could take advantage of the advantage. that would give them on the African markets the know-how acquired on the South African market, more competitive and sophisticated. Thus Standard Bank has established the Stanbic network on the continent, ABSA (as Barclays Africa since its takeover by the old British bank in 2005) has started to be part of an extensive network in English-speaking Africa,…

The marketing offering Ringier Digital Marketing (RDM) Afrique has been established with a careful build-up over the past year – gaining experience with clients in the markets Senegal and Côte d’Ivoire and beyond DAKAR, Senegal, September 14, 2018/ — With headquarters in Dakar, Senegal, Ringier Africa Digital Publishing (RADP)’s (www.RADP.africa) Ringier Digital Marketing (RDM) Afrique & Pulse Live Afrique have now been established to serve users and clients in Senegal, Côte d’Ivoire and further countries in French-speaking Africa. Over the past years, Ringier Africa Digital Publishing (RADP – www.RADP.africa), Ringier AG’s African integrated media group has grown rapidly to develop quality…

Once is not custom. In this ranking of the top 25 banks in Africa, we leave the dictates of the total balance sheet. If only because overweight is not always a sign of good health, we thought that the size of a bank expressed by the aggregation of assets should be supplemented by turnover ( GNP), the net result and, on the other hand, the country network in Africa. It is this last element that is important in our ranking because it is the only one that carries the regional development project. On arrival, most banking institutions in the first…

Despite the rise in the price of a barrel of oil which is around 78 US dollars against 40 US dollars a year ago, oil activities stagnate on average in the area of ​​the Economic and Monetary Community of Central Africa (CEMAC) which includes Gabon, Cameroon, Equatorial Guinea, Congo, Chad, the Central African Republic (the only country in the zone that does not produce oil). The economies of member states are supported by activities outside the oil sector, reports the Bank of Central African States (BEAC) which indicates that this sector will contribute to the growth of Member States by…

BHS, CHAMPION OF BANKS OF HABITAT To understand the economic model of housing banks, we approached one of the actors in the field. General Director of the Housing Bank of Senegal (BHS), Mamadou Bocar Sy is a graduate of the renowned Center for Economic and Banking Financial Studies (CEFEB), a DES in Banking Management of Paris 1. Working for 30 years the emergence of a strong institutional and technical framework to encourage the participation of financial institutions in support of this sector, Mr Sy is part of the cohort of banking managers who have made Senegal a pole of reference…

DUBAI, A NEW DOOR FOR TRADE IN AND TO AFRICA Undoubtedly, Dubai has become over the years a strategic economic hub for many international players. Recently, this city has also managed to establish itself as a springboard for trade from and to Africa. How have these evolved and how important is the relationship between the continent and the city of Emirati today? Elements of answers in this exclusive interview with the President of the Dubai Chamber of Commerce, His Excellency Hamad Buamim. Interview by Szymon Jagiello, Financial Afrik’s European Affairs Correspondent Over the last two decades, Dubai has become a…

United Bank for Africa presents audited financial results for the first half of 2018, with strong growth, with a significant contribution from its African subsidiaries. The bank of Nigerian origin recorded a 16% increase in gross revenues to 749 million US dollars. This, despite a low-yield environment in two key markets, Nigeria and Ghana. Operating income also grew by 4.1% to $ 489 million. Pre-tax earnings were $ 169 million, which was resistant to inflation. Profit after tax also increased to US $ 127 million, up 3.4%. The first half result translates into a return on average equity before and…

African companies listed on the London Stock Exchange (LSE) have a total market capitalization of more than $ 200 billion and over the last 10 years have raised more than $ 16 billion in the London markets. According to an LSE press release, the 108 African companies listed in London have a market capitalization superior to any other place outside the continent. Apart from the equity market, there are 9 African sovereign bonds listed in London: Gabon, Ghana, Namibia, Nigeria and Zambia. London is a leading partner for African companies seeking to attract international investment. In May 2018, Angola launched…

By: Antonio Pedro and Julian Slotman, ECA Sub-regional Office of Central Africa Four years after the oil boom ended and Central African countries faced a sudden reverse in their fortunes from the strong growth of the early 2000’s, the subsequent oil glut and nose-dive of commodity prices have left a bitter taste of over-dependence on oil and other extractive industries in the mouths of many people in Central Africa. The challenges are real because unfortunately, countries in Central Africa, as producers of unprocessed raw materials, are perennially exposed to external shocks and locked in the lower end of global value…

MTN is facing increasing pressure from the Ugandan regulator to list its local subsidiary on the Kampala Stock Exchange. This is the question that is agitating the landerneau of Ugandan financial operators: will MTN Uganda be, yes or no, soon to be listed on the Kampala Stock Exchange? The speculation that surrounds the Ugandan subsidiary of the South African operator MTN follows a recent article in the Bloomberg financial news site, published at the end of August, which claims that the company was put under pressure to join the rating. from Kampala. MTN Uganda, which is due to renew…

Egyptian Exchange (EGX) President Mohamed Farid Saleh announced at the Euromoney conference that about five companies will be listed on the Egyptian market by the end of the year. The head of the Cairo Stock Exchange added that initial public offering (IPO) yields reached LE 2 billion in 2016 and increased in 2017 to LE 4 billion. This volume is 56% generated by foreign investors. Egypt has undertaken a series of reforms to make its financial market more attractive. The country would like to float all major state-owned companies within three to five years. In March 2018, former Finance…

Cairo, 12 Sept. 2018: – The $850 million in financing facilities being made available to the African Export-Import Bank (Afreximbank) by two Chinese financial institutions will allow the African trade finance bank to greatly expand its support to African businesses seeking to diversify and expand their trade activities, Bank President Prof. Benedict Oramah has said in Cairo.

Since the start of its activities in 2014, the National Bank for Economic Development (BNDE) has been able to adapt its strategy to the needs of its core SME / SMI target and market developments. BNDE is currently in a growth dynamic characterized by actions to consolidate its strategy of supporting emerging SMEs and SMIs, in line with its “Business Plan” 2017-2021, characterized by its new vision for 2021 : “To be an innovative, efficient, accessible bank, privileged partner of SME-SMI for the economic development of Senegal”. BNDE has also led important internal projects to align with the new regulations…

Allianz Congo Insurance announces the appointment of Joseph EYOK as Chief Executive Officer. He replaces Cédric Viallet. This appointment is effective from September 4, 2018, subject to validation by the Interafrican Conference of Insurance Markets (CIMA). A member of the Allianz group since 2014, Joseph Eyok was previously Deputy General Manager of Allianz Cameroun Assurances. From PwC to Paris to Allianz in Africa. The new Chief Executive Officer has international experience in the insurance sector. Aged 42, Joseph Eyok began his career in Paris in 2000, in the audit and insurance consulting at PwC. In 2004, he joined the…

Just back from the Forum on China-Africa Cooperation held in Beijing, President Alassane Ouattara announced, according to Ivorian officials, 18 agreements signed with China, equivalent to $ 3.4 billion. US, or 1,900 billion FCFA for financing various socio-economic projects in Côte d’Ivoire. The Ivorian president believes that his visit to China has been most fruitful. This funding will essentially allow Côte d’Ivoire, which according to officials has joined the Chinese “Belt and Road” initiative, the construction of road infrastructure, including the Tiébissou-Bouaké highway; hydraulic with the increase of the supply of drinking water; sanitary facilities with the construction of hospitals…

With a banking rate not exceeding 15% on average, Sub-Saharan Africa is indeed the geographical region having the percentage of individuals with the lowest bank account on the planet!

First consequence following the takeover of Saham Assurances by the South African group. The tandem Nadia Fettah -Moulay Mhamed Elalamy returned the apron. The resignation of the President and Chief Executive Officer was confirmed by the Board of Directors meeting on September 5th. At the same meeting, the Board approved the appointment of Said El Alj as President of Saham Assurance. The one who is also president of Sanam, shareholder of Saham Assurance, will be accompanied by Christophe Buso, general manager. These expected changes fill an interim period that will go until the effective takeover of Saham Assurances by Sanlam.…

On 5 September 2018, the High Court of England and Wales issued an injunction prohibiting the Djibouti port company, Port of Djibouti SA (PDSA), from terminating its shareholding agreement with DP World. The High Court also prohibited PDSA from dismissing the directors of the joint venture Doraleh Container Terminal (DCT) appointed by DP World under this agreement. PDSA shall not interfere with the management of the CSD until further notice of the Court or resolution of the dispute by an arbitral tribunal sitting in London. PDSA mainly belongs to the Djibouti government and its CEO is the president of the…

More than 50,000 low-income Senegalese women will have access to basic financial services such as savings through a new COFINA Senegal technology project and WSBI as part of the Mastercard Foundation program to help the work of small savings. ladder. Described in a memorandum of understanding between the two organizations, the African finance company COFINA will join MaTontine, a fintech specializing in poverty reduction through the widespread adoption of digital financial services, targeting traditional savings groups in French-speaking Africa tontine “. “The project will enable disadvantaged segments of the population, especially women, to gain a stable culture of savings and…

Wednesday 5 September, 16 African banks including RAWBANK, the first banking institution in the Democratic Republic of Congo (DRC), and China Development Bank (CDB) signed an agreement for the establishment of the China-Africa Inter Bank Association in Beijing (CAIBA) RAWBANK (www.Rawbank.cd), the only Congolese bank to have been selected as founding member of this cooperation, hence assumes its leading role in the Congolese banking sector alongside international and African banks. This agreement marks the official establishment of the first China-Africa financial cooperation multilateral mechanism. Based on the presentation by H.E Xi Jinping, President of China, aimed at enhancing China-Africa relations…

The new Managing Director and Regional Director of Ecobank Nigeria, Patrick Akin Akinwuntan, officially took office this Wednesday, September 5, 2018. The banker is committed to providing banking services tailored to clients. Nigerian households will be entitled to a more user-friendly Ecobank and a leading banking innovation that will make banking easier, more convenient and a better overall experience, said one who will have the difficult task of replacing Charles Kié. The Ecobank Group aims to serve 100 million customers by the end of 2020 and expects to receive several million in Nigeria.

AccorHotels announced the acquisition of Mövenpick Hotels & Resorts on September 3, 2018. With this acquisition, the Mövenpick Hotels & Resorts network of 84 hotels (20,000 rooms) will join the AccorHotels portfolio of more than 4,500 hotels, resorts and hotels. residences and 10,000 private homes around the world. Mövenpick’s current network and future openings will strengthen AccorHotels’ presence in Europe and Asia and accelerate the Group’s growth in strategic regions such as Africa and the Middle East. Areas where Mövenpick has a significant reputation with 69 operational hotels or in the pipe representing 18,000 rooms. With this acquisition, AccorHotels becomes…

Societe Generale Group (SG) will receive a “digital factory” in Morocco on Wednesday, September 19, 2018 in Casablanca. Called Societe Generale African Business Services (SGABS), this “Digital Factory” aims to quickly gather around thirty experts dedicated to digital innovations grouped in multidisciplinary teams (Agile coaches, process path facilitators, security, infrastructures, developer, tech lead …) and should cover the West and Central Africa regions. The new “digital factory” plans to conduct about 8 experiments per year and then deploy them standard and industrial to entities in West and Central Africa. The ceremony will be chaired by Alexandre Maymat, Head of Africa…

Mali’s presidential elections were played in two rounds, on 29 July 2018 and on 12 August, with the overwhelming victory of President Ibrahima Boubacar Keita (IBK) at the expense of his longtime challenger, Soumaila Cissé, leader opposition leader. But, while the electoral dispute is about to be emptied in the midst of fierce disputes, here is a new case, the appearance of various facts, bursts. Members of the Mission of the International Observers of the Parliament of the African Civil Society (MOIPSCA) are literally sequestered in a hotel in Bamako due to unpaid and exceeding mission expenses. Embarrassing case.…

The Norwegian oil and gas group Panoro Energy has announced in a press release the discovery by its Gabonese subsidiary of an oil field on the well called Ruche and located north-east of the Dassafu Marin production area. Drilling activities reached 3400 meters in depth and highlighted a hydrocarbon reserve in a 25-meter reservoir of oil. Further technical studies are needed to assess the significance of discovery. This is the 9 th for Panoro Energy off the coast of Gabon since 2011, says CEO John Hamilton. By Antoine Lawson

Grain to grind for African opponents often skeptical about the reliability of the electronic voting system. An 11-year-old has managed to hack a replica of the US e-voting system. It was early August, during the Defcon, the largest hacking conference in the world. The hackers focused on official websites to announce the results. In ten minutes, the young Audrey Jones, 11, hacked the site and “Bob da Builder” (Bob the builder), famous cartoon character, was elected by universal suffrage. The ease with which gifted children have been able to thwart safety devices is sobering. For example, of the 39 children…

The results of Douja Promotion Groupe Addoha billionaire Anas Sefrioui are well below expectations. The Moroccan real estate group, quoted on the Casablanca Stock Exchange, indicates in a note that its consolidated turnover for 2018 would be lower than that of 2017. The first half of the current year is down 15% compared to last year, “consequently affecting consolidated net income and operating cash flow”, we read in the text. Presales, which will be recognized in sales over the next 18 months, are nearly Dh900 million (€ 90 million) for medium-sized projects and Dh800 million for projects in Africa, of…

The Islamic Solidarity Fund for Development (ISFD), the Abu Dhabi Fund for Development (ADFD), the Bill and Melinda Gates Foundation (KF), the King Salman Humanitarian Relief and Relief Fund (KFF) ), and the Islamic Development Bank (IDB) have launched a “Fund for Life and Livelihoods” of up to $ 2.5 billion. The Innovative Fund combines donor grants with traditional market-based financing (or loans) provided by the Bank to provide significant concessional financing resources for socio-economic projects in the 33 least developed member countries of the IDB. Dr. Bandar Hajjar, President of the IDB, said, “The LLF aims to help…

The global energy industry has been experiencing a radical transformation in recent years Speaking on Africa’s hydrocarbon development, Niall Kramer, CEO, South African Oil and Gas Alliance (SAOGA) said, “Growing a gas economy in South Africa and regionally is imperative. We need to do this to partner and to enable renewables but fundamentally to provide the catalyst for the sorely needed growth, business activity and jobs that give us the opportunities for inclusive growth. The wherewithal that oil and gas can bring is potentially large, but to know that we must explore for indigenous gas and import LNG. Policy attractiveness…

From our special envoy, Nephthali Messanh Ledy. Arrived in China on Saturday, Faure Gnassingbe will kill two birds with one stone, even three. Participate in the work of the Forum on China-Africa Cooperation (FCSA) in Beijing, sponsor the business forum of Togo in Xiejang and especially, promote the National Development Plan, the new five-year roadmap of his government. Togo is strongly represented at the beginning of this month in China as part of this forum, which is held once every three years between the Middle Kingdom and the countries of the African continent. At the head of the delegation, President…