Author: Editor

The OCP School Lab program conducted by OCP AFRICA has been running since February 12th several regions of Kenya. This mobile floor laboratory moves to meet the Kenyan farmers and offer them support for soil analysis as well as fertilizer application recommendations. The first season of 2018 in Kenya targeted 9 regions: Nyeri, Meru, Embu, Kirinyaga, Nakuru, Murang’a, Narok, Nyandarua and Laikipia. The aim is to support and train about 7,500 farmers in the use of adapted fertilizer and the adoption of reasoned fertilization techniques. This two-month campaign is being conducted in partnership with Kenya’s Ministry of Homeland Security and…

The 16th day of the African Association of Banking and Financial Institutions Lawyer was held from April 3 to 5, 2018 in Bujumbura (Burundi) on the theme of “specificity of the banking activity and effective resolution of the related litigation”. The subject was treated under the OHADA law and specific regulations. In fact, it was Albert OKITO’s turn to open the dance, under the moderation of Maitre NIBIGIRWE, lawyer and manager of the Gilbert and Partner business firm, to share with the audience, the concern of the Congolese banks, in relation to the impact of targeted international financial sanctions on…

After the “Intercultures and Peace” in 2017, the association #JamSalam, organizes on May 4, 2018 a workshop with young people followed by a conference on “the value of cultures in entrepreneurship” in the region of Al Haouz . By devoting the theme of this edition to “Cultures and Entrepreneurship”, the Al Haouz Festival (scheduled from May 3 to 7, 2018) wishes to focus on the youth of the region, reposition it as an actress and propel it to new fields of possible. Successful entrepreneurs, committed to the South-South dialogue, Ms. Nadia Salah, Director of the Eco-Médias group, administrator of the…

PARIS (Agefi-Dow Jones and Financial Afrik) -Laurent Mignon, Chief Executive Officer of Natixis, the merchant bank of Groupe BPCE (Banques Populaires Caisse d’Epargne), is expected to succeed François Pérol as head of the Mutual Group, according to L’Agefi, which quotes sources close to the file. They also confirm the information of the weekly Challenges, which had revealed earlier in the day that François Pérol, CEO of Groupe BPCE, had formalized his resignation from the supervisory board of the bank. FrançoisPérol would return to Rothschild, which he had been a partner from 2005 to 2007, and where he should become co-chairman…

At the end of 2017, the total balance sheet posted by the National Bank for Economic Development (BNDE) is FCFA 141 billion, an annual increase of FCFA 53 billion in absolute value, and more than 60% in relative value. This increase corresponds to the cumulative increase recorded over the first three (03) years (2014-2016). It is attributable to the significant growth in the financing of the economy by BNDE. The ratios and intermediate management balances recorded a good progression with a net margin rate of 21% against 6% in 2016, an annual increase of 15 basis points. In addition, the…

Teranga Capital, an impact investment company dedicated to financing and in support of Senegalese small and medium-sized enterprises (SMEs), announced today that it has invested 88 million CFA francs in C.A.I.F. (Support Center for the Women’s Initiative). The Support Center for Women’s Initiative (CAIF) (www.caif.sn) is a vocational training center founded by Madame Arame DRAME and specializing in catering and hospitality, sewing and styling, hairdressing and aesthetics. Created 14 years ago, it has good expertise to offer its students, mainly young women, training of good quality and adapted to the job market. According to Insa DRAME, President of C.A.I.F. “After…

The globe-trotter Maria Nadolu returns from Cape Verde and describes this beautiful destination through an unprecedented angle, far from the quantitative curves of the economic press, the cascade of the figures contained in the power point and the Gross Domestic Product equation. that others want to turn into Gross National Happiness. In short, a love at first sight with striking photos. “The ocean is uncertain and changeable like the heart of man,” said Sommerset Maugham in the Mermaid Archipelago. In the middle of an ocean, there is Cape Verde, “ten grains of sand in the Atlantic,” sang Cesaria Evora. It…

The civil society of Darkhala co-organizes with the Gran Canaria region of the Canary Islands, in partnership with the Association of Businessmen of Las Palmas – Fenorte, chaired by Antonio Medina, a cultural and economic week between the 2 and the May 9, 2018 in Las Palmas. Under the theme; “Economic and cultural cooperation between the two Regions is a Reality”, this bold initiative aims to strengthen the economic and cultural dynamics between the two regions, supported by a geographical proximity that places the theme of these multiple days at the doors of the stakes between Europe, Morocco and Africa.…

As part of its digital transformation program, BMCE Bank of Africa is continuing innovation momentum to adapt to the context of a digitized society and a hyper connected generation facing internal and external changes relating to the digital revolution of the bank. So, to make the employee a lever major change, BMCE Bank of Africa launches a Think Tank Digital. This innovative approach in the Moroccan banking sector was conceived as a major project of the bank’s digital transformation program aimed at proposing new initiatives, new modes of operation, new tools, products and services … It also aims to introduce…

Ecobank Transnational Incorporated, the parent company of the Ecobank Group, the first pan-African bank in 36 countries on the continent, held its 30th Ordinary General Meeting in Lome, Togo, on April 24, 2018. The shareholders expressed their satisfaction that Ecobank returned to profit for the year ended December 31, 2017 and approved all the resolutions of the AGM, including the ratification of the co-optation as director of Monish Dutt of International Finance Corporation, Brian Kennedy of Nedbank Group and David O’Sullivan of Qatar National Bank. The term of office of the external auditors assigned to Deloitte and Touche, Nigeria, and…

Vincent Bolloré, the CEO of the Bolloré group and Vivendi’s largest shareholder, was indicted on Wednesday, April 25 in the evening. The CEO of the group that bears his name has been indicted for bribery of foreign public official, complicity of breach of trust and complicity of false but was not placed under judicial control, it adds. The businessman had been held in police custody since Tuesday as part of a judicial investigation open including “bribery of foreign public officials”, about the conditions for obtaining port concessions to his group in Africa, in 2010. His custody was extended on Wednesday…

The World Bank estimates that officially registered remittances to low- and middle-income countries reached $ 466 billion in 2017, up 8.5% from $ 429 billion in 2016. If shipments to high-income countries are also counted, worldwide transfers grew by 7% to $ 613 billion in 2017, up from $ 573 billion in 2016. Transfers have increased in all regions, and the main beneficiaries are India with 69 billion dollars, followed by China (64 billion dollars), the Philippines (33 billion dollars), Mexico (31 billion dollars), Nigeria (22 billion dollars), and Egypt (20 billion dollars). Remittances are expected to continue to grow…

In closing the Spring Meetings, World Bank Group shareholders approved a $ 13 billion capital increase and further reforms to strengthen the capacity of IBRD and IFC to meet global challenges. today and tomorrow. The financial envelope includes general and selective increases in subscribed capital of $ 13 billion, of which $ 7.5 billion is for IBRD and $ 5.5 billion for IFC. It also provides for an increase in the callable capital of IBRD. The fundamental reforms proposed at the institutional and financial levels bring about profound transformations. These include measures to improve the internal efficiency and increase the…

In the assessment of the incredible case of the acquisition of the port of Conakry, we do not smoke the same pipe in the Guinean executive in response to allegations of corruption Vincent Bolloré for “subordination of foreign public officials.” If Albert Damantang Camara, the spokesman for the Guinean government, believes that “the concession port of Conakry was granted in strict compliance with the laws in force and states unequivocally that” Guinea is not concerned by these allegations, which do not make sense “according to statements relayed by Reuters on Tuesday, April 24 in Conakry, elsewhere the tone is for…

The African Guarantee Fund (AGF) is providing a partial guarantee amounting to CFAF 6 billion (USD 11 million) to Société Commerciale de Banque (SCB Cameroon), a subsidiary of Panafrican Group Attijariwafa bank. This line is intended to facilitate the financing by SCB Cameroon, up to 13 billion CFA francs, of the project to set up a cocoa bean processing plant in the town of Kekem, in the region of West Cameroon. . This project, supported by Cameroonian SME NEO Industry, will not only provide Cameroon with an annual processing capacity of 34,000 tons of cocoa beans, but also create many…

Despite unfavorable economic conditions, the Rwandan brewer Bralirwa almost quadrupled its net profit in 2017. Unveiled Monday, the company’s 2017 annual accounts show a profit after tax of 5 billion Rwandan francs (7 million dollars), against 1.4 billion francs (1.8 million dollars) in 2016, an increase of 263.3% from one year to the next. Welcoming this performance, Victor Madelia, the company’s General Manager, nevertheless reminded us that “these results were achieved despite a difficult business environment”. Quoted on Wednesday by the New Times, the leader explains that “the monetary depreciation (of the Rwandan franc, Ed) has resulted in an increase…

The Wärtsilä Group strengthens its presence in Senegal with the signing of an engineering, manufacturing and delivery contract for a 130 megawatt (MW) Flexicycle plant that will be an integral part of Senegal’s energy future. The project of Malicounda power station in Mbour is located 85 km from Dakar, the capital of the country. The order, registered in March, was made by Matelec, a provider of the independent energy producer MPG (Melec Power Gen) and entity of the Matelec group, based in Lebanon. The project is part of Senegal’s strategy to increase energy production while reducing the cost of electricity…

At its meeting today, the Board of Directors appointed Yasser Shaker as CEO of Orange Egypt effective May 1, 2018. Yasser Shaker is a recognized engineer who has played an important role in the technology sector for over 20 years. He graduated from the Faculty of Engineering of Cairo University and holds an MBA from the Ecole Supérieure de Commerce in Rennes (France). Previously, Mr. Yasser was Senior VP CTIO Orange Middle East and Africa (OMEA) where he contributed to the successful execution of the Orange Group’s strategy for the development of digitization in 19 countries. Previously, Yasser was the…

The President of the Republic of Cameroon, Paul Biya, ratified the agreement establishing the African Legal Support Facility (ALSF) on April 13, 2018 in the presence of his cabinet. Cameroon is the 25th member state to ratify the treaty. The bill authorizing President Biya to ratify the agreement was introduced in the Senate, under the chairmanship of Senate Speaker Marcel Niat Njifenji, after the country’s National Assembly adopted the proposed statute. After the 100 members of the Upper House voted in favor of the bill on March 15, 2018, it was forwarded to the President for ratification. Cameroon has a…

Following the announcement of the custody of Vincent Bolloré, the group reacted through a statement which here is the substance. A subsidiary of the Bolloré Group is the subject of a survey concerning invoices for communication services in Guinea and Togo for the years 2009 and 2010, following a complaint by a former collaborator sentenced for misappropriation of ‘assets at 3 years and 9 months imprisonment firm and about 10 million euros in damages. The Bolloré Group formally denies that its subsidiary company SDV Africa has committed irregularities. The services relating to these invoicing were carried out in full transparency.…

In his terrible race against time since February 2017 against the company Millicom for the purchase of Tigo Senegal, Kabirou Mbodj faced two enemies: time and money. On the first duel, the CEO of the Wari group has thought he won when he succeeded, helped by Afreximbank, to mobilize the amount requested, 80 billion CFA francs. Alas, it was too late. The deadline had expired, releasing the Millicom group from the sales agreement linking it with the Wari. The case should not stop there, Kabirou Mbodj having sued the owners of Tigo Senegal before the commercial court and, at the…

The 15th Annual African Private Equity and Venture Capital Association (AVCA) Conference kicked off today with speakers, panellists and renowned investors. The conference welcomes the 600 leading private equity leaders, representing more than $ 13 trillion in assets, to discuss key trends that impact investment on the African continent in 2018 and beyond. of the. The fourth annual GP-LP Summit on Sunday, co-chaired by Hurley Doddy, Managing Director and Founding Partner at Emerging Capital Partners and Murray Grant, Managing Director, Head of CDC Group’s Intermediate Equity, served as a platform for managers funds and investors to discuss relevant issues facing…

Gecamines has sued Kamoto Copper Company SA (KCC) and its majority shareholder group controlled by Glencore, in the Kolwezi Commercial Court, for the purpose of seeking the dissolution of KCC for the non-replenishment of its own funds within the legal period. KCC is a 25/25 joint venture owned by the Gécamines Group and 75% by the Glencore Group. On April 22, 2018, Katanga Mining, a subsidiary of Glencore, took the initiative to make public and comment on the procedure thus initiated by Gécamines. Gécamines wishes, as far as it is concerned, to make the following clarifications: Gécamines was obliged to…

The Breton industrial Vincent Bolloré was placed in custody in the premises of the judicial police of Nanterre this Tuesday morning, within the framework of an open judicial investigation notably for corruption and concerning the conditions of acquisition of two port terminals in Africa. The billionaire, also first shareholder of Vivendi, is implicated in the context of a judicial investigation, opened notably for corruption and concerning the conditions of acquisition, in 2010, of two container terminals operated by the Bolloré group in Lomé, Togo, and in Conakry, Guinea. According to the newspaper Le Monde, which revealed the information, magistrates suspect…

On the occasion of the opening of the 3rd Annual Conference of the International Network of Francophone Investment Promotion Agencies (RIAFPI), April 19, 2018 in Libreville, the Director of the National Agency for the Promotion of Investments (ANPI) Gabon, Nina Alida Abouna, Executive Director of Junior Achievement (JA Gabon), Radia Garrigues and Bpifrance International Expertise Manager, Vincent di Betta, have signed a technical services contract as part of the reinforcement the capacity of Gabonese support structures to serve innovative entrepreneurs. This signature, in the presence of the Minister for the Promotion of Private Investment, responsible for national entrepreneurship, Madeleine Berre,…

The Moroccan Capital Market Authority (AMMC) has issued a visa for a perpetual bond of the phosphate group OCP S.A on the debt market. The operation is capped at 5 billion dirhams (500 million euros) with five compartments, one of which is listed on the Casablanca Stock Exchange. The subscription period runs from May 2nd to 4th, 2018. The OCP group has launched a major investment program for an amount of about 200 billion dirhams over the period 2008-2030. This investment program is partially financed by equity and debt. In order to satisfy part of these financing needs, the Company…

Mazagan Beach & Golf Resort is the craftsman of unforgettable holidays under the sun. In an exceptional place, the holidays are spent relaxing, leisure and sport. The whole family will be able to be lulled by the sweetness of summer, and share tasty moments around delicious meals offered by the restaurants feet in the water; choice of Spanish cuisine, barbecue grill and pizza. And, at Tutti Frutti at the edge of the pool, place to greediness. Around the beach, place to action with a multitude of activities for all ages: adrenaline rush in jet-ski, quad, or on the track karting,…

Total’s acquisition of Marathon Oil last March for a $ 450 million block in the Waha deposits has not yet received the green light from the Libyan authorities. The sale is disputed because of a price deemed low according to some. A counteroffensive by the National Oil Corporation (NOC), the Libyan state oil company, is not to be ruled out, say several sources. Tripoli is looking at the value of the 16.33% stake to eventually raise funds for a counter-offer with funding from Libya’s Libyan Investment Authority (LIA), a source quoted by Reuters as saying. The acquisition by Total must…

Launched with fanfare in July 2012 in Brazzaville, the Forbes Africa franchise is stopped due to apparent financial difficulties. The last issue was published in October 2017. Faced with this blockage, journalists and staff who, for some have not been paid for 14 months, decided to form a collective. In a joint missive, addressed last week to Mr. Ebata, and that Financial Afrik has procured exclusively, the injured employees speak of “a serious situation”, while also evoking a series “of possible options for to be recognized in their rights “. Already, several bailiff letters have reached the Paris headquarters…

INNOVATION RIME WITH FUTURE, BOTH MAY BE AFRICAN No week passes without some important news about the impact of technology in our lives. Such an impact is obviously not new. Many times, the pace of change has accelerated thanks major discoveries such as printing, electricity or combustion engines. Some would say 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 reduction,…