Author: Editor

Present on the African continent for more than 85 years, the Tractafric distribution group knows the requirements. That’s why he chose to partner with the Mercedes-Benz manufacturer, which he distributes on nearly half of the continent (22 countries including all Central and West Africa and part of English-speaking Africa) , to offer professionals vehicles adapted to the road conditions of African countries. Today, with the brand new range of Mercedes-Benz trucks being launched, the distributor is taking another step forward, with transport solutions that are always better adjusted to serve its customers. The brand new Actros, Arocs: two power…

For several decades, the bosses of the Gabonese public administrations were equipped with luxury vehicles of the 4X4 types whose value could exceed 50 million F CFA. But in order to reduce its lifestyle, the Gabonese State has decided to ban, since June 29, 2018, the acquisition of administrative vehicles of more than 30 million. This measure concerns both the central administration and the other decentralized public services. The well organized industry, with the complicity of local car dealerships, allowed some senior government officials to benefit from vehicles they would never have acquired while working in the private sector. Thus,…

Giant raw materials often accused of collusion with African diets, Glencore is today in the sights of Uncle Sam. In a statement released on Tuesday, the Zug group (Switzerland) announced that it has been summoned by the US Department of Justice in a corruption investigation into its activities in Nigeria, the Democratic Republic of Congo (DRC) and the United States.

The London-based independent oil and gas company Panoro Energy SA and its partner BW have announced the successful drilling of the DTM-3H well, located on the Turtle oil field. Well drilling began in May and the work proceeded smoothly, on time and within budget. From an official source, the well was fully in line with the prognosis and pre-drilling objectives. The DTM-3H well is horizontal in the Gamba reservoir, oil capital, and comes in a long section of oil-saturated sandstone, according to a Panoro statement that did not specify the size. The next step will be the Northeast Hive Drilling…

Coris Bank International Togo knows a new general manager since July 2 in the person of Alassane Kaboré. Until then director of risks at Coris Bank Mali, where he has distinguished himself by the excellence of the results achieved and the control of the ratios related to the measurement of the risk, Alassane Kaboré replaces Sanou Seydou called to other functions within Holding of the group. Mr. Sanou has been in charge of the Togo branch since it opened in January 2015. Coris Bank International Togo currently covers Lomé through a network of four (4) agencies namely the Principale agency,…

The Africa -China Economic Forum & Exhibition which opens on Tuesday in Djibouti devotes the inevitable rise of the Middle Kingdom in the Gulf of Aden. The theme of this forum, “defense and security in Africa” ​​bother Paris and Washington. The African anchor of the imperial strategy of the Silk Road, Djibouti is home to French and American bases and, recently, the first Chinese base outside China. The Chinese choice results from what some have called the “checkbook diplomacy” put forward by China to impose its supremacy on the Bab-el-Mandeb Strait, through which almost all the commercial traffic between Asia…

The first collective management company approved in Senegal, the Compagnie Générale de Finance et de Gestion (CGF Gestion) has just set up an innovative retirement savings product in partnership with the Senegal Business Council (CDES). Kalidou Dialllo, CEO of CGF Gestion, explains its scope and, beyond, answers Financial Afrik’s questions about savings and retirement in the WAEMU zone. CGF Gestion has just signed with the Senegal Business Council – CDES, the regulations for their Retirement Savings Plan. Can you come back to this collective savings scheme and present the conditions and benefits to our readers? Since its creation, the objective…

The Gabonese Reinsurance Company (SCG-Ré) ended 2017 on a positive note, with a net result of 1.2 billion CFA francs, an increase of 112% compared to 2016. According to the company’s statements released between May and June at its board of directors and its general meeting, the turnover amounts to 12.265 billion CFA francs at the end of the year, compared with 11.3 billion in 2016. Its technical result, meanwhile, is up 26% over the previous year, to reach 3.6 billion. In addition, the company headed by Andrew Crepin Gwodog has unlocked $ 4 billion for the settlement of claims,…

A positive assessment for Burkina Faso: the structural transformation of the economy, the development of human capital and the reform of the State are underway! The President of the Republic of Burkina Faso, Marc Roch Christian Kaboré, who was democratically elected in November 2015 and inaugurated the following month, has assessed the results of his government after two and a half years of his five-year term at the head of the country. President Kaboré was able to impose a policy that broke with the old regime by developing a new societal project that aims to establish a rule of…

A great tribute was paid Friday, June 29 to Jacques R. Saadé in Marseille. The founder of the CMA-CGM group, who died Sunday, June 24, 2018 at the age of 81, had the honors of France represented by the Minister of Foreign Affairs Jean-Yves Le Drian. Leading personalities from the shipping world and many politicians have joined the Group’s 30,000 employees in 160 countries for a moment of silence. The fog horns of all the boats present in the ports of France and all the CMA CGM ships in the world sounded a last salute to those who built their…

By Mamadou Ismail Konaté * and Bakary Diallo *, Attorneys to the Court Everyone knows that in Africa, the heart of the disintegration of the public spirit is at the top of the state and in its wheels. Poor governance and impunity are characterized by the non-respect of the rule of law and the violation of the law and the rules. The unilateral modification of pre-existing norms by rulers with the aim of satisfying their personal and selfish interests is not surprising. On the contrary, this way of doing things is rather usual. That is why when in 2010, for…

At the end of the stay in Gabon of a mission of the International Monetary Fund (IMF) from June 13 to 25 and led by Alex Segura Ubiergo, promising prospects in terms of economic growth and diversification of the economy did not prevent that point out the weakness of the reforms initiated by the government. According to the members of the IMF mission, “Gabon’s economic growth should recover in 2018, reaching 2% against 0.5% in 2017”. “Inflation stood at a modest 2.7% and oil exports and new mining capacity helped reduce the current account deficit in 2017,” the mission report…

The African Development Bank ranks fourth among the best companies to work for on the continent, according to the 2018 survey Employers of choice for Africa. Of the top 100 companies, the top four are held by the World Bank Group, Chevron, Exxon Mobil and the African Development Bank. More than 20,000 African professionals responded to the survey questions on employee motivation and working conditions. The opportunity to learn new skills, the quality of health care delivery, the leadership dimension and the prospects for change are key indicators for the best employers. “The importance of having a positive impact is…

Senegalese management and intermediation company (SGI) CGF Bourse is rated QSG-1 in Quality Management by WARA, ie 5 stars. The perspective is stable. Dakar, 2 08/06/18 – West Africa Rating Agency (WARA) today announced the publication of the first CGF Stock Market Quality Management rating. On its regional scale of Management Quality of management and intermediation companies (SGI), WARA assigns to CGF Bourse the “QSG-1” rating, ie five stars, which is the maximum score for an SGI in Africa. ‘Where is. The perspective attached to this notation is stable. This is the first time that WARA assigns a Quality Management…

African Media Agency (AMA)/- Africa Finance Corporation (“AFC” or “the Corporation”), the leading infrastructure development finance institution in Africa, has announced the appointment of Samaila D. Zubairu as the Corporation’s 3rd President & Chief Executive Officer, succeeding Andrew Alli who comes to the end of his tenor, having successfully served in the position since 2008. Samaila Zubairu is a distinguished Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an accomplished Infrastructure development finance specialist with over 29 years of professional experience. He is the CEO of Africapital Management Limited, in which position he established a joint venture…

The Maghreb Bank of Investment and Foreign Trade (BMICE) has just signed a line of credit with New Bank of Mauritania (NBM) as part of its programs to boost inter-Maghreb trade. The agreement was signed on June 26 in Tunis by Noureddine Zekri, CEO of BMICE and Abdel Baghi Ahmed Bouha, CEO of the NBM. Launched in 2014, the New Bank of Mauritania has a capital of 6 billion ouguiyas, or about 20 million US dollars held by nationals. Result of the action of national economic actors and the combination of Mauritanian skills, the NBM “affirms its rooting in Islamic…

The round table of the Paris Diaspora Forum (# FDDA2018, co-organized by @Ipemed and @ClasseExport), Friday, June 22, was a moment of synthesis and reflection on the financial and technological innovations of the diaspora. Among the information announced on the sidelines of this forum that held the bet of wealth and diversity, the creation of Efficiency Africa Fund (EAF) by Club Efficience chaired by Elie Nkamgueu. This is a general fund intended to support SMEs and which will be active next September provided they obtain the visa of the French Financial Market Constable (AMF), which is essential to enable the…

By Daniel Pingeot Africa’s largest port, Tanger Med in Morocco has become one of the most important logistic platforms in the world in a decade. A positioning that is as much of its geographical location as its innovations in terms of dematerialization. With its freight exchange, the famous port Tanger Med is once again talking about him after an eloquent growth in 2017. Launched last March, in partnership with the CGEM (the General Confederation of Enterprises of Morocco), it is intended primarily for professionals transport and logistics. Its goal is to connect actors using Tanger Med, namely shippers and carriers,…

Palm Hospitality Africa, a subsidiary of the Palmeraie Développement Group, and the Plateau City Council, are launching the Abidjan Plateau hotel and announcing that they have entrusted Radisson Hotel Group, a world leader in high-end business hotels, with management. A management agreement was signed, in this sense, Monday, June 25 in Abidjan. A product of a joint venture between Palm Hospitality Africa, a subsidiary of the Palmeraie Development Group, and the Abidjan Plateau Commune, the “Radisson Hotel & Apartments Abidjan Plateau” is developed as part of the revitalization of the business center of the Plateau Commune. advertisement You can close…

On the occasion of a seminar on cyber security around the theme “Understanding and anticipating DDoS attacks”. The leader in cybersecurity solutions, the telephone operator Gabon Telecom officially launched on June 19 the technological solution called APS, to protect the 400,000 IP addresses of its customers. Recently, Gabon had been the subject of credit card fraud a year ago and new protection measures were put in place. But much remains to be done. There are daily violations of the right of the press, piracy, fraud and counterfeiting or even infringements of content (copyright, privacy, minors …). Gabon Telecom suffers 743…

Short-listed candidates for the takeover of a majority stake in Zitouna Takaful Bank are known. Coris Bank is one of two shortlisted applicants. The operation bears, remember, on a single block of shares consisting of shares held by: -The Tunisian State, Al Karama Holding and the Société Portfolio Invest in the capital of Banque Zitouna and representing 69.15% of the capital -Al Karama Holding and the Société Portfolio Invest in the capital of Zitouna Takaful, representing 70% of the capital. The stakes are important. “This is the majority transfer of a bank positioned in the Islamic finance segment and which…

The 840 Microfinance Institutions (MFIs) listed in the Economic and Monetary Community of Central Africa (CEMAC) had a total balance sheet of 854 billion francs in 2017., According to a report by the Cameroon Ministry of Finance (MINFI), customer deposits at its establishments reached 672 billion CFA francs during the same period, while gross loans amounted to 354 billion CFA francs, made up mainly short-term credits. These loans are down 20% compared to the level reached at the end of December 2016. This notable decrease is mainly due to the transformation of Crédit Communautaire d’Afrique (CCA), previously a second-tier EMF,…

Integr-All’s research and development team, an actuarial firm based in Douala and led by Eric MANIABLE, provides insurance and social security companies with the best of global innovation, adapted to the context particular of African economies. The anti-fraud tool is the latest innovation developed and tested on a health portfolio of more than 400,000 care records. Insurance companies face the challenges of fraud that has many causes and many actors: underwriting fraud, beneficiary fraud, false medical records, overbilling, substitution, overprescription. It is essential for these companies to carry out numerous checks on each claim. In practice, the insurer…

Mali adopted on Wednesday, June 20, at the Council of Ministers the bill establishing the Universal Health Insurance Plan (UHIP) to implement the Universal Health Cover. According to a statement issued at the end of the council, “the institution of the universal health insurance scheme aims to defragment the existing health risk coverage mechanisms in order to offer the entire population of Mali a regime of single health insurance that will cover all social categories through more appropriate mechanisms “. The government explains in the document that “the implementation of the RAMU comes into effect following the evaluation of the…

Guinea was at the big meeting in Brussels on June 22, 2018 for an economic forum oriented towards investors. Ranked among the most reforming countries, in the ranking of Doing Business in 2014 and that of a country performing according to the criteria of the World Bank’s competitiveness in 2017, Guinea has also reached satisfactory conclusions with the IMF. “Unusual performance in the history of our relations with the Bretton Woods institutions,” said Guinean Prime Minister Ibrahima Kassory Fofana, appointed a few weeks ago in what was considered by the specialized press as a presidential will of accelerate major projects.…

The Gabon Ports and Harbors Authority (OPRAG) held on Thursday its board of directors under the direction of its chairman, Pierre Reteno Ndiaye, appointed on November 23, 2017. He was previously the Chief Executive Officer of the Gabonese Refining Company ( SOGARA), based in Port-Gentil. During the year 2017, 762 ships stayed in Gabon against 752 in 2016, an increase of 1.3%. Regarding the volume of goods transited to the port, 7 million 19,639 tonnes were transported to the various ports compared with 5 million 799 thousand 409 tonnes in 2017. Sales in 2017 amounted to CFAF 11 billion 453…

Features Secretary Generals E. Mohammed Sanusi Barkindo of OPEC, Dr Sun Xiansheng, of the IEF and H.E. Mahaman Laouan Gaya of the APPO
 E. Mohammed Sanusi Barkindo to receive “Africa Oil Man of the Year” award at Energy Coalitions dinner Africa Oil & Power, the continent’s leading platform for energy development and discussion, is bringing together global leaders in oil and energy for the 2018 flagship conference in Cape Town — including H.E. Mohammed Sanusi Barkindo, Secretary General of OPEC, Dr Sun Xiansheng, Secretary General of the International Energy Forum and H.E. Mahaman Laouan Gaya, Secretary General of the African…

The figures are from the National Agency for Statistics and Demography (ANSD). According to this official body, Senegal’s exports of non-monetary gold reached $ 81.540 billion between January and April 2018, an increase of over 30% over the same period last year. As a reminder, the Senegal Emerging Plan (PSE) targets a national production of 18 tons of gold per year. Last April, some 500 kilograms of gold were exported by Toro Gold (entered into production) in Geneva. Industry pioneer Sabodala Gold Operations (Sgo), which set a record of 233,000 ounces in 2017, is set to set a new record…

The story could be a story if it was not that of a German tennis player, one of the best of his generation against a state, the Central African Republic, drifting for 6 years, between coup d’etat State, transitional government, elections and sales of diamonds by armed groups under sectarian confessional wars on the nose and beard of UN forces. London-based bankrupt Boris Becker, who has a photo with the Central African President Faustin Archange Touadéra, says he has a valid Central African passport (his interview was due to be broadcast on June 24th). BBC). For its part, the Central…

The Draft Finance Bill Amending (PLFR) 2018 that has just adopted Gabon in Council of the Minister of 21 June is an exercise in severe adjustment of public spending which is not, relatively speaking and massive competition of the Europe and the international community in less, without recalling Greece.