Author: Editor

The Singaporean group Olam was appointed, at the end of the Council of Ministers on Thursday, to provisionally manage the Libreville Leon Mba International Airport. After agribusiness, the Singaporean group Olam recently moved into the port sector with the construction and delivery of the new terminal at Owendo deep-water port. Since Thursday, Olam has been entrusted with the management of Libreville Airport (ADL). Olam replaces the French group EGIS which had the monopoly of the management of this tool of sovereignty for 30 years. “To continue to ensure the maintenance and operation of the Libreville International Airport, the Minister (Transport…

The fishing agreement between Mauritania and Senegal, several times postponed, is in its final phase according to the Senegalese Minister of Fisheries and Maritime Economy, Oumar Gueye. On June 20, the minister held a working meeting in Saint-Louis with his Mauritanian counterpart, Nany Ould Chrougha, in the presence of the members of the ministerial delegations of the two countries. A meeting sanctioned by a communiqué that invites the fisheries sectors in Senegal and Mauritania, to work to renew the fishing protocol. “Our meeting augurs a very next signature,” said Oumar GUEYE, explaining that the decision to postpone the signature initially…

By Diary Ndiaye After the Akon Lighting Africa project launched in 2014, the Senegalese-American star, Akon, continues its journey across the continent, with a new vision. It launches, indeed, a new cryptocurrency named Akoin, and intended to boost the African economies, to integrate the youth of the contains in this global economic movement that passes through cryptocurrency and blockchain. “Blockchain and crypto can be saviors for Africa, in many ways because it gives power to people and brings security to the monetary system, while allowing people to use it to advance and not to allow a government to develop an…

The Insurance and Social Welfare Control Authority (ACAPS) is organizing, jointly with the Access to Insurance Initiative (A2ii), the International Association Insurance Supervisors (IAIS) and the Toronto Center, a training program in Inclusive insurance for insurance supervisors from 18 to 22 June in Rabat. This training falls within the framework of the regional cooperation policy and conducted by ACAPS. It is intended for executives and managers of African supervisory authorities involved in the regulation and control of insurance sector. 15 countries from the African continent are taking part in this regional seminar, which aims to to enable participants to consider…

Press release ACAM Life of June 19, 2018. Founded in 2015, at a time when the digitization of the activities of financial organizations was already on the agenda, ACAM Vie (Cameroon Life Insurance) has a digital culture at its origins. To support the distribution and management of its innovative savings and provident solutions (for individuals and businesses), ACAM Vie has developed a digital platform, available and accessible via the following address: www.acamvie.com Each customer has a dedicated space at no additional cost. To qualify, simply open an account from its customer number (available from ACAM Life advisors, or by writing…

Fiscal 2017 will remain the most prolific in the annals of the African Trade Insurance Agency (ATI). The agency’s commitments reach $ 10 billion. On the sidelines of a press conference held on 4 June, ATI pledged to provide even more support to African member states to reduce their borrowing costs and provide them with an alternative to increasing debt. currency markets or syndicated debts which currently represent 60% of African public debt. “The continent is currently looking for African solutions to address development challenges such as affordable access to finance. As a strong African institution, ATI is on the…

The Ordinary General Meetings of the Regional Stock Exchange (BRVM) and the UEMOA Central Depository / Depository Bank (DC / BR) were held in Dakar on Tuesday, June 19, 2018. At the end of these Ordinary General Meetings, the first meetings of the new Boards of Directors of the BRVM and DC / BR were held and the members of the Boards unanimously reappointed Pierre Atépa GOUDIABY as Director President of both Councils for a term of three (3) years. He will be responsible for overseeing the execution of the 2018-2020 strategic plans of the two central structures of the…

The recipient of this year’s Outstanding Leadership Award was Papa Madiaw Ndiaye, Founding Partner and CEO at AFIG Funds. Private Equity Africa (PEA) (www.PrivateEquityAfrica.com) is pleased to announce the winners of the 2018 GP & Advisor Awards. The awards saw 26 firms collect the much coveted accolades at the 7th Annual PEA Awards Gala Dinner hosted at London’s prestigious Langham hotel on 12th June, which attracted over 200 industry professionals. The recipient of this year’s Outstanding Leadership Award was Papa Madiaw Ndiaye, Founding Partner and CEO at AFIG Funds, for his contributions to the growth of the industry. This is…

During a press conference to unveil its 2017 results, the African Trade Insurance Agency (ATI) also announced that it is positioning itself to provide even more support to its member countries across Africa with a specific focus to help governments reduce their cost of borrowing and provide an alternative to raising foreign currency debt through bond markets or syndicated loans, which currently accounts for 60% of the region’s total public debt. “The continent is currently searching for African solutions to tackle development challenges such as affordable access to financing. As a strong African institution, ATI is poised to become a…

Invested Saturday, June 16 in his stronghold of Ségou, Modibo Koné wants to force the democratic alternation in Mali. In front of supporters from all regions, the candidate of the Mali Kanu Movement called for the failure of the five years of inactivity embodied by President IBK. “We all lived for five long years under the rule and governance of President IBK’s family. Some of us have even agreed to contribute for the sake of our beloved Mali. We have all seen the result. How many prime ministers? Ministers? Leaders of big companies have believed and have been brought back…

Better a bad arrangement than a good trial. The London Stock Exchange endorsed this maxim by raising the Glencore share on Wednesday, the day after the announcement of the settlement of a dispute with the Congolese company Gécamines about their copper and cobalt mining joint venture. Democratic Republic of Congo (DRC). On the session, the Glencore share takes 1.36% at 08:27 GMT on the London Stock Exchange, one of the largest increases in the FTSE 100 index (-0.15%). Investors were watching the issue closely because of its impact on cobalt supplies from the DRC, by far the world’s largest producer…

Suez Canal sales in Egypt for the first ten months of the 2017-2018 fiscal year ending in June reached about $ 5.1 billion, Finance Minister Amr El Garhy reported on Sunday. the Egyptian MENA news agency. Garhy did not provide comparative figures, but said he expects revenues for the entire 2017-18 fiscal year to be about $ 5.6 billion, an increase of 14 percent compared to the previous year, according to the MENA. According to data from the central bank, the Suez Canal in Egypt generated $ 4.95 billion in revenue in the 2016-17 fiscal year. Egypt said earlier that…

Papa has been a leader in the Private Equity landscape for three decades LONDON, United Kingdom, June 15, 2018/ — Private Equity Africa (PEA) awarded Papa Ndiaye, CEO of AFIG Funds (http://www.AFIGfunds.com), the 2018 Outstanding Leadership Award at a ceremony held in London Tuesday night. PEA is the pre-eminent magazine on Private Equity in Africa. It is in recognition of PE professionals who have helped shape the industry. “It is quite an honor to be recognized by my esteemed peers for Private Equity Africa’s Outstanding Leadership Award. I have had the privilege of seeing the African PE industry blossom from…

COFINA, Africa’s leading institution for mesofinance, raised more than 16 billion CFA francs, an oversubscription of 60%, which reflects strong investor interest. The money raised will be reinvested in the financing of small and medium-sized businesses in the region. Initiated on April 11, 2018, the securitization of Compagnie Financière Africaine (COFINA), Africa’s leading institution for mesofinance, was closed on the Regional Stock Exchange, the Common Stock Exchange of the eight countries of the Union zone. Economic and Monetary Union of West Africa (UEMOA). This operation, the first for the region, involved a bond issue for an amount of 10 billion…

Almost two years to the day after announcing that he would sell his shares in the Britam insurer “within two years”, the businessman on Monday completed the sale of his stake in the Swiss reinsurance giant Swiss Re. In a statement released yesterday, Britam’s management states “that [it] has been informed by one of its...

Ecobank Transnational Incorporated, (ETI) (www.Ecobank.com), the Lomé, Togo -based parent company of the Ecobank Group, announces the departure of Ms Dolika Banda from its Board of directors. Ms. Dolika Banda, who served as a non-executive director on the Board of ETI from October 2014 retired from the Board at the last Annual General Meeting of ETI held on April 24, 2018 following the expiration of her mandate. The Board, Management and staff of ETI express their gratitude to Ms. Dolika Banda for her significant contributions to the Ecobank Group and her renewed commitment to continue to assist and support the…

Moody’s Investors Service has  downgraded the Government of Gabon’s issuer and senior unsecured debt ratings to Caa1 from B3 and changed the outlook to stable from negative. The rating downgrade is underpinned by continuing government arrears to creditors and suppliers which point to heightened government liquidity pressures and denote institutional weaknesses. Persistant arrears also risk delaying critical financial support from the official sector, in turn exacerbating existing liquidity pressures. The stable rating outlook at Caa1 reflects Moody’s assessment that the government’s challenging fiscal and liquidity positions with arrears likely to persist are balanced by likely continued IMF financial support as…

EFG Hermes continues its leading position globally, with exceptional performance across all geographies in which it operates and covers, consistently leading some of the world’s most prestigious research surveys JOHANNESBURG, South Africa, 11 June 2018 -/African Media Agency (AMA)/- EFG Hermes, a leading financial services corporation serving institutional and individual investors in frontier emerging markets, has for the first time been ranked as the number one frontier market brokerage firm in the Extel Survey 2018, advancing from the 9th place last year. The nod from the high-profile industry survey comes just two years into EFG Hermes’ drive to expand…

By Fabrice Kom Chuze And to say that many of us today say that it is difficult to capture the savings of African households. Every year, many Conferences are organized with the Bretton Woods Institutions to discuss the strategies to be put in place to improve Financial Inclusion, to reinforce the financial education of African populations. For 2 years, the Central Bank of West African States (BCEAO) has initiated a Program for the extension of Financial Education and has even recently created a Central Directorate dedicated mainly to Financial Inclusion. On the other hand, several countries like Cameroon, Senegal, Togo…

United Nations Secretary-General António Guterres has appointed Ms. Ahunna Eziakonwa of Nigeria as Assistant Administrator of the United Nations Development Program (UNDP), responsible for the Regional Office for Africa. Ms. Eziakonwa succeeds Mr. Abdoulaye Mar Dieye of Senegal, to whom the Secretary-General expresses his gratitude for the dedication and commitment he has shown to the Organization. Ms. Eziakonwa has several years of experience at the United Nations. Since 2015, she has been Resident Coordinator and Resident Representative of UNDP in Ethiopia (…). In New York, she also worked in the Department of Peacekeeping Operations and the Department of Public Information.…

After having starred in America by aligning four of its banks in the top 5 of the world’s most powerful banking institutions (S & P ranking), China has just broken a new record through one of its companies. Thus, Ant Financial (“the ant of the finance”, in English), which exploits Alipay’s online payment system and Alipay mobile launched in 2004, announced this Friday a fundraising of about 14 billion dollars, the largest ever by an unlisted company. This round of C series, in dollar and partly in yuan, brought together existing shareholders and new investors, sovereign and public funds, such…

Coris Bank International Benin proceeded on Tuesday 05 June 2018 to launch its Islamic window, CBI Baraka at the Azalaï hotel, in the presence of the Minister of State in charge of Planning and Development, Mr. Abdoulaye Bio Tchané, CEO of the Group Coris, Mr. Idrissa Nassa, Iman of the Central Mosque of Cotonou Cadjèhoun, Mr. Mohamed Ligali and several other guests. This opening, which comes after Senegal two weeks ago, is part of the bank’s innovation and diversification strategy. The CBI Baraka window is headed by Ms. Kahady Boye Hanne and offers a plethora of products compliant with…

The 18th General Assembly of the Agency for Insurance of Trade in Africa (ACA) is being held on June 27 and 28, 2018 in Abidjan, Côte d’Ivoire. The event will begin on Wednesday 27 June with the annual Round Table that will bring together representatives of African governments, investors, insurers and financial institutions to discuss possible solutions to increase access to finance by African industries. In the 2017 edition, the roundtable was attended by five finance ministers and a head of state from ACA member countries. The African Trade Insurance Agency (ACA) is a multilateral organization that provides insurance products…

The President of the Federal Republic of Nigeria, Muhammadu Buhari, conducts, on Sunday and Monday, June 10 and 11, 2018, a visit of friendship and official work to Morocco at the invitation of King Mohammed VI, announces a communiqué of the Ministry of the Royal House, Protocol and Chancery, published Saturday. . As part of this visit, King Mohammed VI will hold official talks with his host and will preside with him the ceremony of signing bilateral conventions between the two countries. In the middle of Ramadan (Muslim fasting), the visit will be marked by official Iftar (breaking fast)…

From November 8 to 10, 2018, Abidjan will be the world capital of processing raw cashew nuts. Côte d’Ivoire plans to repeat the success of the last two editions of the International Cashew Processing Equipment and Technology Exhibition (SIETTA). The thorny issue of youth employment in Africa invites itself to this economic and commercial meeting. As a matter of fact, “the cashew industry has enormous potential for creating jobs and even opportunities for wealth. If the 711,236 tons of raw nuts produced in 2017 in Côte d’Ivoire were transformed, at least 100,000 jobs would be generated “. Statement made on…

President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea (left) in handshake with Afreximbank President Dr. Benedict Oramah during the signing ceremony in Malabo   The African Export-Import Bank (Afreximbank) has welcomed Equatorial Guinea as its 50th member state with the country’s signing of the Instrument of Accession to the Bank’s Establishment Agreement in Malabo on Wednesday. Lucas Abaga Nchama, Minister of Finance, Economy and Planning of Equatorial Guinea, signed the Instrument on behalf of the Government during a ceremony witnessed by President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea and an Afreximbank delegation led by Bank President Dr. Benedict Oramah. Addressing the ceremony, Dr.…

Gabon, a small oil eldorado in Central Africa with a population of 1.8 million, has struggled to establish its democracy since 1990, the year of the introduction of multiparty politics. Thus, the national political life has been punctuated for several decades by the Democratic Party of Gabon (CEO-in power), created by the late Omar Bongo...

In 2017, Africa attracted only $ 42 billion, a decline of 21% compared to 2016. A stronger contraction in Southern Africa and Angola, but which does not spare Africa either Central and West Africa. According to the report of the United Nations Conference on Trade and Development (UNCTAD) on investment in the world in 2018, this drastic decline is linked to the lingering effects of the recession of the commodities sector. The document published Wednesday in Geneva also does not close the door to hope: “The beginnings of a restoration of commodity prices, as well as the progress in inter-regional…

The National Society of Transport and Logistics (SNTL) has a general manager in the person of Aziz Alami Gourefti, who succeeds Mohamed Ben Ouda. The appointment was validated by the Council of Government held Thursday, June 7, 2018 in Rabat. As a reminder, Alami is the former Director General of the Office of Fairs and Exhibitions of Casablanca (OFEC). The National Society of Transport and Logistics (SNTL) is a public limited company charged with providing, in the context of competition, freight forwarder services in the field of national and international freight transport.

Africa’s agribusiness and food sector registered strong private equity deal activity during May 2018, according to industry information service Africa Private Equity News. EXEO Capital announced a $6.4-million investment, through its Agri-Vie Fund II, into Capital Fisheries – a Zambian food company specialising in the cold-chain distribution of fish and other animal proteins. Capital Fisheries has an innovative business model of wholesaling frozen products from reconfigured shipping containers placed permanently at markets, small shopping centres and other areas where people congregate. Further north, the Yield Uganda Investment Fund, managed by Pearl Capital Partners, made its maiden investment in the East African country by committing about $421,000 to soy-processor…