Author: Editor

The Sierra Leonean government will proceed with the upcoming review of its mining code adopted in 2009, as well as a review of all contracts signed with companies present in the country, according to official sources. “We need to review the conditions under which these licenses were granted,” Yusuf Keketoma Sandi, the presidential media secretary, told Reuters. Among the leading mining companies in Sierra Leone, Shandong Iron and Steel (China), owner of the Tonkolili iron ore project, or Koidu Holdings Ltd, a diamond producer controlled by BSG Resources, Sierra Minerals, owned by the Dutch industrial group Vimetco NV, which operates…

Patrons of mining companies working in the DRC and in disagreement with the DRC government on the new mining code have sent a note to President Joseph Kabila in which they threaten to bring the DRC to justice to claim damages following the losses it new mining code their cause. They warn that the Congolese government could lose in such a soap opera up to 3 billion US dollars in 10 years reveals the agency Bloomberg. The new mining code cancels the ten-year stability clause promised to companies in the event of a change in legislation, and that is what…

Placed the aegis of Ivorian Prime Minister Amadou Gon Coulibaly, a regional seminar on competitiveness in West Africa was held Thursday, May 31. Organized by the Chamber of Commerce and Industry of Côte d’Ivoire (CCI-CI) with the World Economic Forum (WEF), financial experts and business leaders from the public and private sectors have drawn up an inventory of fixtures. the business environment in the sub-region. Prospects were then identified. For the president of ICC-CI, “competitiveness can not be conceived independently of the broader sets that are the sub-region and, more generally, the African continent, continent of all hopes”. However, regrets…

Morose since April, the Kenyan financial market is pulled down by the massive disengagement of foreign institutional investors. A “frontier” market, the Nairobi Stock Exchange has two main characteristics attached to these financial centers in the making: significant growth potential and … a strong downward volatility. An erratic performance that investors positioned on Kenyan listed stocks rediscover, despite themselves: main index of Nairobi, the Nairobi All Share Index (NASI) begins its third consecutive month of decline since its highs in April. In May alone, it sold nearly 4%. A counter-performance that is nevertheless incommensurable with the defeat observed (-11%) over…

Societe Generale announced Monday it has agreed to pay fines totaling $ 1.34 billion to put an end to two lawsuits in the United States and France on charges of manipulation of the Libor interbank rate and corruption in Libya. Of this total, the French bank will pay respectively $ 275 million to the Department of Justice (DoJ) and $ 475 million to the US regulator of derivatives markets (CFTC) to close the dispute related to the manipulation of the interbank rate Libor. Societe Generale was one of the many banks mentioned in this vast deal on the interbank market…

The Agricultural Caravan, launched by the OCP Foundation, will be crisscrossing four regions of the country during the next agricultural season to complete the Ethiopian soils fertility map. This Caravan will strengthen the technical and scientific capacities of small farmers and agronomists of the Ministry of Agriculture and Livestock in Ethiopia, in terms of good agricultural practices focused on the reasoned fertilization of crops. More than 100,000 hectares will be mapped during the pilot phase of the project with more than 1,000 composite soil samples taken and analyzed. Addis Ababa, 1 June 2018. The Agricultural Caravan, launched by the OCP…

Claude Ayo-Iguendha, Director and CEO of the International Bank for Trade and Industry (BICIG), a subsidiary of the National Bank of Paris (BNP / Parisbas) died in Libreville Thursday. Claude Ayo-Iguendha was undoubtedly one of the most experienced bosses in the Gabonese banking sector. Which probably earned him the end of 2011, the presidency of the sovereign fund of the Gabonese Republic (FSRG), the former Sovereign Fund for future generations. Mr. Ayo has led several state-owned companies, from the now defunct national airline Air Gabon to the Gabonese Development Bank, and the National Trucking and Transit Company. Director-General of the…

This is the number of farmers that OCP School Lab will reach in its next stage, which starts on May 31 in Bauchi State, northern Nigeria. After accompanying more than 50,000 farmers in 6 countries of the continent, the Caravan, signed OCP Africa, this time targets one of the largest agricultural regions of the country. The caravan whose ambition is to bring agricultural technological innovations closer to farmers, will provide farmers in the region with recommendations on the use of fertilizers, training in good agricultural practices and educational materials. In addition, 3000 farmers will also benefit from soil analysis services…

By pierre Delval Fishing remains for billions of people around the world a major resource in terms of food, nutrition and livelihoods. Nearly 170 million tonnes of aquatic products have been harvested each year since 2015. In other words, every second 5400 kg of seafood is extracted from the oceans or in wild fisheries by 4.6 million vessels, or in aquaculture. The annual turnover of the sector represents about 218 billion dollars and confirms, despite the overexploitation of species, an upward trend. Experts, international organizations, companies in the sector, civil society, all underline the essential contribution that the oceans make.…

“PHOTOGRAPHER IS TO SEIZE THE REAL, IT IS NOT INVENTER IT” By Maria Nadolu This year, she celebrates 10 years since the release of her first photo “Fashion Week”. Andreea is known as a “front row and backstage photographer”; She covers from New York to Paris and Milan and her photos have been published by the classics, Vogue Paris, UK Elle, Harper’s Bazar UK. But, indeed, she is a storyteller in pictures, who likes to leave the categories fixistes. In search of authenticity, through her lenses, she surprises the human in its perpetual transformation, with its beauty and its shadows,…

The President of the Republic of Cameroon, Paul Biya, signed on May 24, 2018, a decree ratifying the loan agreement for an amount of 30 million euros (19 billion FCFA) expandable to 48.80 million euros. (approximately 32 billion CFA francs) between the Republic of Cameroon and BMCE Bank International PLC, a subsidiary of the Moroccan bank Bank Africa. The loan will be used to finance the rehabilitation of Roumdé Adjia de Garoua stadium, the construction of its annex stadium, and a four-star hotel in the city. This loan is timely for a country engaged in a race against time to…

Ecobank has increased its customer base by 40% in 2017 and aims to reach 100 million customers by the end of 2020. Ecobank was awarded two trophies at the prestigious African Banker ceremony held at the Paradise Hotel in Busan, South Korea. Impressed by the way Ecobank has leveraged digital financial services and an improved service model to establish itself as the retail bank of choice, the jury has named it Africa’s best retail bank. Ecobank also received the Innovation Award for its revolutionary Ecobank Mobile app, which has already been downloaded by over 5 million users. This award was…

The African Export-Import Bank (Afreximbank), the Finance Center for South-South Cooperation (FCSSC) and the Made-in-Africa Initiative (MIAI) have announced a joint effort to mobilise $1 billion in equity fund to channel foreign direct investment from developing (South) economies towards Africa’s industrialization and integration into global value chains. The framework agreement executed by the three organisations in Beijing recently, mark the establishment of a strategic partnership among the institutions aimed at leveraging diversified financial instruments and resources to boost Africa’s industrialization and expand China-Africa economic and commercial cooperation The objective of the arrangement is to develop a common investment platform anchored…

WARA upgraded Coris Bank’s long-term local currency rating International (CBI) from BBB to ‘BBB +’ in May 2018. This rating is at the same level that the Burkinabe national ceiling, which is also established – according to WARA-‘BBB +’. WARA has also upgraded CBI’s short-term rating from ‘w-4’ to ‘w-3’. The perspective attached to this notation is now stable. As a reference, the international currency ratings that WARA assigns to CBI became: iB + / Stable / iw-5. Among the bank’s strengths, Wara mentions: CBI’s strong position in the Burkinabe banking market, built in 8 years, establishing itself as the…

As a prelude to the second edition of the country risk conference Côte d’Ivoire, scheduled for May 31 in Abidjan, Stanislas Zézé, CEO of Bloomfield rating agency, discusses the issues and prospects of this event organized in partnership with Financial Afrik. You are organizing the second edition of the conference “Risk -Pays Côte d’Ivoire”. What are the objectives of this event? The second edition of the conference debate on the Ivory Coast risk country, is part of a logic of pedagogy, discussions and constructive exchanges, and search for solutions for a better organization of the business environment and the strategy…

Already listed on the Rwanda Stock Exchange, Bank Of Kigali has just received the green light from its board of directors (meeting May 25, 2018) for a listing on the Nairobi Stock Exchange (NSE). The planned operation in the second half of this year is part of the bank’s $ 70 million plan. Some $ 20 million will be spent on digital, said Diane Karusisi, chief executive of the bank. Bank Of Kigali’s NSE introductory transaction is a first for a Rwandan company. Founded 51 years ago, Rwanda’s leading banking institution in terms of assets has been listed on the…

Not a free zone but rather a financial zone according to the international nomenclature and definition Casablanca Finance City is progressing well in its continental vocation. Since 2012, about 75% of Morocco’s investments in Africa pass through this structure. At the end of March, the special place set up in the heart of Casablanca to support Moroccan and international investors to Africa counted 150 companies established covering 46 countries of the continent. “These are all companies that cover Africa and invest from Casablanca,” said Manal Bernoussi, Director Strategy, Marketing and Communication of Casablanca Finance City in an interview with Financial…

Intra-regional trade can only be expected to expand economic growth and development if there is improved access to market information, Dr. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), has yesterday. Dr. Oramah, who was speaking in Busan, South Korea, on Monday during a breakfast event organized by the Bank to promote the maiden Intra-African Trade Fair (IATF) scheduled to hold in Cairo from 11 to 17 December, said that, unlike in relatively mature markets where information on the sources and suppliers of specific goods and services were seamlessly available, the situation was different in Africa. Most African manufacturers do not…

African Development Bank President Akinwumi Adesina presented the Africa Road Builders -Babacar Ndiaye trophy to the Kenyan delegation on the sidelines of a ceremony held in Busan, South Korea, on May 23, 2018. The Babacar Ndiaye 2018 Trophy is awarded to Kenyan President Uhuru Kenyatta, rewarding the development of road, rail and airport infrastructure in this key East African country. Kenya Road, Kenya Railways Station and Lapsset Development Authority (which manages the corridor connecting South Sudan to Lamu Port) were present at the ceremony. The event held in the prestigious setting of the Park Hotel Busan was preceded by a…

This year again, there were many bankers and managers looking for the grail at the African Banker Trophies. The suspense lasted the time of a business evening where African banking geography, expanding universe, will be granted on a few names and especially a name, that of banker of the year. Thus, BGFI in Gabon won the Regional Bank Trophy of the year in Central Africa. The title of Socially Responsible Bank of the Year was awarded to the Moroccan group BMCE Bank of Africa, considered a leader in sustainable finance. The Financial Inclusion Trophy went to Crédit Agricole du Maroc.…

Nigeria’s Minister of Finance, Kemi Adeosun and Director-General of African Risk Capacity, Mohamed Beavogui exchanging copies of the MoU in Busan, Republic of Korea. “The leadership role of Nigeria in the continent and in the establishment of the ARC makes the signing of a formal MoU quite momentous for our work in the region. We want to create systems that can truly protect the livelihoods of the most vulnerable and safeguard the significant development gains made by the country over the years.” ~ Mohamed Beavogui, DG, African Risk Capacity Busan, May 24, 2018 – The Government of Nigeria has signed…

Salaheddine Mezouar has logically imposed new president of the Moroccan Employers’ Confederation (CEGM). The former Foreign Minister obtained 5,173 votes out of the 6,635 votes cast, while his competitor, Hakim Marrakchi, held 1,432 votes in the vote held on Tuesday. The new patron of the bosses starts his term on Tuesday for a period of three years. Industrial and then in turn Minister of Commerce, Minister of Foreign Affairs, Mezouar also headed the RNI (National Rally of Independents), party led by the current Minister of Agriculture, Aziz Akhannouch, given favorite for the next elections.

A few weeks before the start of negotiations on the agreement of the Continental Free Trade Area (ZLECA), “the Senegalese private sector is not yet ready” to cross the line of the said zone. “We are not ready but we are preparing to be ready when the time comes,” said Ange Billong, chairman of the presidential council of investment and members of the National Council of Patronage of Senegal. Mr Billong was speaking on the sidelines of an information and sensitization session for the benefit of the private sector, parliamentarians and organized civil society, on Tuesday 22 May in Dakar,…

The different panels allowed to discuss topics such as: The issues and impacts of Basel II, Basel III, How to optimize the Group’s credit risk assessment and management process? Managing the risk of skills breakdown The major issues of cybercrime, cybersecurity and fraud; The platform of systems and services within the Group; The challenges of innovation and digital transformation; Governance: role, duties and responsibilities of the leader The development of new products and services towards the bank of tomorrow How to reinvent customer proximity? The 2018 edition of the BGFI CEO Meeting ended Friday (May 18th) in Libreville, during a…

Published May 21, the new report by Allan & Associates, a consulting firm in policy and risk management provides some clarification. Djibouti, which wants to become the trans-shipment center of the Horn of Africa, has demonstrated its attractiveness in terms of investments in recent years. Located near some of the busiest sea routes, with access to the Indian Ocean and the Red Sea, this country can boast of the political stability and peace that has been won over for decades, unlike some of its neighbors like Somalia divided, opaque Eritrea or Yemen devastated by war. “Djibouti offers an attractive environment…

Ogooué Mining Company (Comilog- Subsidiary of Groupe Eramet), through its manganese branch, announced Saturday a quarterly production of ore greater than 8% in the first quarter of 2018 compared to that of the first quarter of 2017. Similarly, ore sales rose 23%. According to the data of the French metallurgical giant, turnover amounted to 429 million euros (281.4 billion CFA francs) in the first three months of 2018, compared to 418 million euros ( 274 billion F CFA) on a comparable basis to 2017; a slight increase of 3%. This improvement is due to the implementation by the Eramet Group…

By Sidi Ould Tah, Director General of BADEA No week passes without some important news about the impact of technology in our lives. Such an impact is obviously not new. Several times, the pace of change has accelerated thanks to major discoveries such as printing, electricity or combustion engines. Some would argue that our contemporary experience of technological innovation does not significantly alter the dynamics of similar changes experienced in the past. Many, however, agree that something much bigger is going on. We grew up with negative perceptions about Africa’s development prospects. We engaged in discussions about aid effectiveness, poverty…

The International Organization of La Francophonie (OIF) is an institution based essentially on the sharing of the French language as a lever for cooperation, and aims to promote common core values ​​such as the rule of law, democratic governance, consolidation of the rule of law, respect for human rights and fundamental freedoms. Through the mandates entrusted to it by member states and governments, notably to prevent and peacefully resolve conflicts in the French-speaking world, the OIF is also recognized as an international player contributing to peace and security. of global security. The Secretary General, the keystone of La Francophonie, is…

Stephane Fischler, Interim President of the World Diamond Council (WDC) and Marie-Chantal Kaninda, Executive Director of the WDC, visited Democratic Republic of Congo (DRC) last week to meet key players in the Kimberley Process (KP) . Two topics were on the agenda according to the New York Times: the DRC’s support for reform of the Kimberley Process and the traceability of artisanal miners in the DRC. Some 200,000 of these minors have been registered.The successes in the DRC are to be put in the account of Marie-Chantal Kaninda, appointed executive director of World Diamond Council since March 2017. With 20…

WARA has decided to affirm the long-term rating of the African Rubber Planting Company (SAPH), the leader in natural rubber production in Ivory Coast, at BBB, while changing its perspective to “positive”. In a report dated May 17, 2018, West Africa Rating Agency (WARA) indicates that on its regional scale, the long-term rating of SAPH remains “BBB”, still in investment grade. Its short-term rating also remains unchanged at “w-4”. On the other hand, the perspective goes from stable to positive. At the same time, on its international scale, WARA affirms SAPH’s rating and modifies its perspective as follows: iB /…