Author: Editor

Doubling the rate of electrification in rural areas Provide reliable access to electricity for 25% of the population Abidjan, Côte d’Ivoire, July 18, 2018 – The Board of Directors of the African Development Bank Group approved, on July 18, 2018 in Abidjan, an 18 million euro financing from the African Development Fund (ADF). ) in favor of Burkina Faso. This budget support will finance the Energy Sector Reform Support Program (PARSE), whose main goal is to create the conditions for inclusive access to energy in the country, through Establishment of a legal and institutional framework conducive to public and private…

Casablanca, Wednesday, July 18, 2018. The BCP Group has just obtained for all its subsidiaries affiliated to the Capital Markets Bank (BMC) the ISO 9001 V 2015 certification, the most recent version meeting international standards in the field. field of quality management. This certification devotes, indeed, the quality management systems of the four specialized subsidiaries of the BMC, namely:  UPLINE SECURITIES, brokerage company;  UPLINE CAPITAL MANAGEMENT, an asset management company;  ICF AL WASSIT, a company specialized in the online stock market;  MEDIAFINANCE, a bank dedicated to securities services. Thanks to this recognition, the BCP Group becomes…

Paris, July 18, 2018 – The African Solidarity Fund (FSA) and Bpifrance sign a Partnership Agreement to promote the development of FSA activities for the private sector and the commercial public sector in the 14 African member countries that are Benin , Burkina Faso, Burundi, Central African Republic, Côte d’Ivoire, Gabon, Guinea Bissau, Mali, Mauritius, Niger, Rwanda, Senegal, Chad and Togo. This partnership agreement, signed by Mr. Ahmadou Abdoulaye DIALLO, Director General of FSA and Pascal LAGARDE, Executive Director in charge of International, Strategy, Studies and Development of Bpifrance, aims to develop collaboration between the two institutions . It provides…

By Adama Gaye It is never by chance that the Chinese President, now considered the most powerful man in the world *, leaves his country. That gives all the meaning of the stay, the antipodes, that Xi Jinping, carries out, from this weekend, on the African continent. Does it come to walk in the footsteps, or flowerbeds, of its predecessors who have already done the safari, reaffirming the dogmas and paradigms that have irrigated the Sino-African relationship since, in particular, the introduction, in 1949, of the People’s Republic of China (PRC) following the triumph of the Maoist Communists against Chiang-kai…

H.E. President Paul Kagame will host the leaders of Mozambique, China, and India for successive State Visits between 19-24 July 2018. H.E. Filipe Jacinto Nyusi, President of the Republic of Mozambique, will arrive in Rwanda today 19 July, for a three-day State Visit. H.E. Xi Jinping, President of the People’s Republic of China, will be in Rwanda from 22-23 July. This marks the first visit by a Chinese leader to Rwanda. H.E. Narendra Modi, Prime Minister of the Republic of India, will visit from 23-24 July. This is also the first visit to Rwanda by an Indian Prime Minister. These…

The announcement was made in the presence of Kasangwa Chanthal, Executive Director – Operations Department, Central Bank of Rwanda, and other dignitaries, partners and guests UAE Exchange, a leading global money transfer, foreign exchange and payment solutions brand, announced the rebranding of its Rwanda operations as “Unimoni”(www.Unimoni.com). The announcement was made in the presence of Kasangwa Chanthal, Executive Director  – Operations Department, Central Bank of Rwanda, and other dignitaries, partners and guests. Short for ‘Universal Money’, the new brand “Unimoni” reflects the company’s aspirations to strengthen its global presence and provide a broader spectrum of innovative financial services to its customers.…

The Ministry of Mines and Hydrocarbons of Equatorial Guinea on Tuesday, July 17, 2018, enjoined all oil operators present on its soil, including but not limited to Noble Energy, Exxon Mobil, Kosmos Energy, Trident, Marathon Oil Corporation, to cancel all contracts with CHC Helicopters based in Canada due to non-compliance with local content regulations. It is the responsibility of the Ministry of Mines and Hydrocarbons to ensure strict compliance with the local content regulation of our country’s hydrocarbons law, “said Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons. hydrocarbons. “These laws are in place to protect and promote local…

A very first since the adoption of the Regulation number 0003 / CIMA / PCMA / PCE / 2012 of 05 April 2012 organizing microinsurance operations in the Member States of CIMA *. Six years after the entry into force of this scheme, Yelen Assurance of Burkina opens the way by becoming the first microinsurance company approved by the CRCA. Indeed, it is Monday, July 16 that this company received sesame, hands down. The consulting department of Ifage SA accompanied Joel Bamogo, CEO of Yelen, in the creation of the company, the study of its accreditation file and its defense…

The operator Safaricom would be in advanced talks with the Ethiopian government to introduce into the country its popular mobile money service, M-Pesa, it was learned on Tuesday. The information, not confirmed for the time by the management of the Kenyan company, was unveiled in the day by the Reuters news agency, which quotes in support two anonymous sources close to the case. Specifically, the British Vodafone, the parent company of Safaricom, should allow the use of the trade name M-Pesa by an Ethiopian bank (which has not been specified) while the service would be provided by the Ethiopian telecommunications…

Coris Holding and Afriland First Group sign a framework cooperation agreement opening up new prospects in Middle Africa. The signature took place on Saturday 14 July 2018. Through this framework cooperation agreement, Coris Holding and Afriland First Group undertake to pool their efforts to finance the economies of the countries of their presence through SMEs...

African economies will grow by 4.1 percent in 2018, according to the 2018 Africa Trade Report: Stimulating Intra-African Trade: Implications of the African Continental Free Trade Agreement, launched by the African Export-Import Bank (Afreximbank) on 11 July. The report was announced by South African President Cyril Ramaphosa, Amb. Albert M Muchanga, Commissioner for Trade and Industry of the African Union Commission, and Dr. Benedict Oramah, President of Afreximbank, at the Annual General Meetings and the celebration of the 25th anniversary of Afreximbank in Abuja. According to the report, the implementation of the African Continental Free Trade Area (AfCFTA) will create…

The African Export-Import Bank (Afreximbank) has signed an agreement under which the African Development Bank will grant a $ 500,000 grant from its African Private Sector Support Fund (APAF) to support the new factoring companies in Africa. The agreement, signed at Annual General Meetings and the celebration of Afreximbank’s 25th anniversary in Abuja on July 13, aims to increase the capacity and skills of up to 20 new factoring companies and provide consulting services. to improve the viability of established growth-oriented factoring companies, regulators, financial institutions and trade associations in Africa. Kanayo Awani, Director General, Intra-African Trade, signed on behalf…

The Annual General Meetings and the celebration of the 25th Anniversary of the African Export Import Bank (Afreximbank) ended yesterday in Abuja with a speech by Nigerian President Muhammadu Buhari who affirmed that the Bank, thanks to its dynamism and determination had proved that Africans could unite to create something constructive. In his speech at the closing ceremony, President Buhari emphasized that these qualities have enabled the Bank to achieve the success it has enjoyed since its creation 25 years ago. Dr. Benedict Oramah, President of Afreximbank, explained to participants that “since January 2016, thirteen African countries have become Member…

The Director-General of SCG-Ré, Dr. Andrew GWODOG, took part in the Combined General Meeting of Fegasa (Gabonese Federation of Insurance Companies) held on July 13, 2018, for the purpose of deliberating on the one hand, on an extraordinary basis, on the adoption of the new statutes and on the other hand, on an ordinary basis, on the following agenda: 1- Election of the new President and the Office Director; 2- Adoption of the 2017 accounts and adoption of the 2018 budget; 3- Release of the Amiable Statement; 4- Reflection of the Pool TV; 5- Automobile Guarantee Fund; 6- Rose card;…

The departure of Shell Gabon and some companies in the para-oil sector of Port-Gentil, did not undermine the will of the American company Vaalco to continue its investments in Gabon. Vaalco SA Deputy General Manager Clotaire Kondja said in an exchange with the journalists that “there will be no question of dismissing our employees or...

The Gabonese authorities have just launched discussions with international partners for the establishment, once again, of a national airline company. Although since the liquidation of Air Gabon in 2005, all attempts of this kind have failed. Based in Jeddah, the Saudi group Nexus Aero International looks set to do business with Gabon. A delegation led by its president and CEO was received, Friday, July 13 in Libreville, by the Minister of Transport and Logistics of the country. At the end of the negotiations, Libreville wants to have a new airline, after the liquidation in 2005, of the former Air Gabon.…

Worried by the rise of protectionist tensions, investors shunned this week the South African coast, struggling to regain its previous highs At the Johannesburg Stock Exchange, the days are similar and alike: by yielding Friday 0.85% to 56341.14 points, the FTSE / JSE Africa All Share Index has aligned its fourth consecutive session of decline. And over the week as a whole, the main South African stock index dropped 1.66% as investors worried about the ongoing trade battle between the United States and its international partners. Elsewhere, however, most other major financial markets ended with a positive weekly performance (+0.90…

The African Export-Import Bank (Afreximbank) yesterday launched Mansa – a pan-African customer information platform that will provide a single reliable source of data needed to conduct the necessary counterparty audits in Africa. The Mansa platform is the centralized platform for benchmarking clients across the African continent. By providing complete information, it will put an end to the subjective assessment of customers and eliminate the idea, often unfair, that it is risky to do business with African companies. Mansa will also help to better understand the business climate in a country and will provide information on related services on the continent.…

Johannesburg, the capital of South Africa, is hosting from October 16-20, 2018, the second annual summit on the promotion of pan-African investments. Called the Tropics Business Summit, this meeting will focus on the theme: “accelerating startups in emerging markets through financial partnerships for inclusive growth and sustainable development”. A series of activities are announced over the five days, including conferences, corporate exhibitions, capacity building workshops, etc., according to a statement from the organization. Note that the first edition of this summit was held in October 2017 in South Africa. It brings together more than 150 entrepreneurs, company directors, young innovators,…

The Fongip will better meet the expectations of the State, partners and beneficiaries The institutional change of Fongip has just been launched by its Board of Directors at its last meeting of June 28, 2018 on the approval of the financial statements for the year 2017 of the institution It will promote an appropriate framework and sufficiently standardized to meet the new expectations of the State, partners (Banks, Sfd and others) but especially the main beneficiaries (SMEs, VSEs of young people and women). The proposed model for institutional change from Fongip assimilated to an agency to a FONGIP SA,…

Yaoundé – Citi is pleased to announce the appointment of Gordon Acha as Citi Country Officer (CCO) for Cameroon. Gordon will report to Citi Cameroon Board of Directors chaired by Khady Dior Ndiaye, Citi Country Officer for Côte d’Ivoire and Citi Business Head for French West & Central Africa. Gordon has over 23 years of Institutional Banking experience covering the United States, Cameroon, Côte d’Ivoire, Gabon and South Africa. He joined Citi Cameroon in 1998 and served in a number of roles including Relationship Manager, Global Relationship Banker and Financial Institutions Head, Corporate and Commercial Banking Head. In 2009, Gordon…

Africa Oil & Power, the continent’s premier platform for energy investment and policy, and the African Energy Chamber (AEC) signed a strategic partnership in Johannesburg today. Both organizations will be sharing capacities to facilitate investments and deal-making in Africa across their networks. Under the agreement, the AEC will also become an official partner of the Africa Oil & Power 2018 conference taking place September 5-7, 2018 in Cape Town. As part of the partnership, the Africa Energy Chamber is extending to all its members and partners across its network an exclusive discount of 15% to attend the summit in…

Kanayo Awani, Managing Director, Intra-African Trade Initiative, Afreximbank (2nd right), and Ebrima Faal, Senior Director, Nigeria Country Office, African Development Bank (AfDB), watched by Enga Kameni of the Afreximbank Legal Services Department (right) and a legal officer from AfDB, as they sign the agreement in Abuja.     Abuja, 15 July 2018: – The African Export-Import Bank (Afreximbank) has entered into an agreement under which the African Development Bank to provide it with a $500,000 grant from its African Private Sector Assistance (FAPA) programme to be used in supporting emerging factoring firms in Africa. The Agreement, signed at the Afreximbank Annual Meetings and…

The TROPICS BUSINESS SUMMIT 2018 will hold Conferences, Workshops, Exhibitions, Panel Discussions between Government authorities, Entrepreneurs, CEOs, Financiers and Academia from all continents. The Summit will carry more practical meaning and enjoy more popularity with its open exhibitions. The 2nd edition of the TROPICS BUSINESS SUMMIT is scheduled on 16-20 October 2018 at the Parktonian All-Suites Hotel by Marriott in Johannesburg, South Africa.The 2018 theme is “Accelerating startups in emerging markets through financial partnerships for inclusive growth and sustainable development.” In a span of five days, an array of activities are staged including Conferences, Corporate Exhibitions, Capacity Building Workshops, Country…

Secretary-General António Guterres concluded the second annual UN-African Union Conference in Addis Ababa, as part of ongoing efforts to strengthen relations between the two organizations. Held from 9 to 10 July, the meeting covered issues addressed in the AU-UN Joint Development Framework, including the issue of peace and security. “We feel the wind blowing in the direction of peace,” he said, referring to recent developments such as the Ethiopian Prime Minister’s historic visit to his rival and neighbor, Eritrea, as well as the peace talks on South Sudan. “All this gives us hope that the African continent is moving more…

Absa, formerly known as Barclays Africa, has just adopted this new logo on Wednesday, July 11th. The launch of the new look also marks the effective separation of the entire Absa group from Barclays Africa Limited, to adopt the name of Absa Bank Limited, and this in all its markets. All the same, Barclays, which is no longer part of the Absa brand, remains a partner of the group and still holds a 14.9% stake in the company. In its operations outside South Africa, the bank will retain the current Barclays brand image for the time being. The reason is…

In financial difficulty, Kenyan cementist ARM Cement has just won a decisive round in its fight for survival: the International Finance Corporation (IFC) will finance the purchase of 12 billion shillings of its debt ($ 120 million). The financial terms of the operation, which will become effective in 2019, were revealed today by the Business Daily. Specifically, ARM will buy back – with the support of IFC – a portion of its existing short and medium-term debt, which is relatively expensive (up to 17.5% annual interest rates), to replace it with the new borrowing terms of its institutional creditor (6%…

Contrary to the unfounded claims made yesterday by DP World, the opening of the Djibouti International Free Trade Zone (DIFTZ) is fully in line with international laws and standards. The opening of the DIFTZ does not violate DP World’s contractual rights in any way. Aboubaker Omar Hadi, Chairman of DPFZA, said: “DPFZA deeply regrets the repeated, misleading comments from DP World. DP World seems to be engaged in a sustained but futile campaign to misrepresent the facts. DP World’s stubborn behaviour and attitude towards Djibouti, including its attempt at rent-seeking in regard to the operation of Doraleh Container Terminal (DCT),…

The Orange Côte d’Ivoire telephone operator proceeded on Tuesday 10 July with the launch of an Orange Money withdrawal and payment card. It is a new solution for quick and secure payment from the mobile money account for transactions in the West African Economic and Monetary Union (UEMOA) zone. It offers an alternative for customers to make transactions in the ATMs (ATMs) / ATMs of the Visa network. According to Marius Yao, CEO of the company, “this card will allow customers over 21 years to pay for purchases in stores and outlets equipped with an electronic payment terminal and buy…