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Amen Bank and the Islamic Insurance and Export Credit Corporation (ICIEC) have signed an agreement for an insurance policy to cover US $ 50 million confirmed bank letters of credit . This agreement was signed on April 5, 2018, by Ahmed El Karm, Chairman of the Executive Board of Amen Bank, and Osama Kaissi, Executive Director of ICIEC, on the sidelines of the annual meetings of the Islamic Development Bank Group (IDB) which were held from 1 to 5 April 2018 in Tunis. Under the terms of the agreement, ICIEC will cover up to 90% of the value of Amen…

By OSSENE OUATTARA, Yamoussoukro. After their meeting on Saturday, April 7 during which they expressed their will to take their “destiny in hand” in the face of the “problems” of their sector, the members of the National Federation of Cashew Producers of Ivory Coast ( FENAPACI) have given the cover this Saturday, April 21st. This time, they were joined in the sumptuous cinema hall of the Yamoussoukro Hotel President by buyers, exporters and industrialists (processors). These four colleges have affirmed their union through the National Association of actors of the cashew sector. Who is a permanent framework for consultation and…

The new Agricultural Bank of Burkina Faso (Faso BADF) has obtained its approval from the UEMOA Banking Commission. The institution with a capital of 14.27 billion FCFA has a tour de table rather broke with 13 organizations of the peasant world, 3 State companies, 8 private companies and 70 natural persons. Fifteenth bank in Burkina Faso, the BADF’s main missions are to mobilize popular savings in rural areas, to finance inputs in quantity and quality, as well as agro-business. Agriculture, which accounts for 35% of the country’s Gross Domestic Product (GDP) and employs 82% of the labor force, receives barely…

The President of the African Export-Import Bank (Afreximbank), Dr. Benedict Oramah, received yesterday the New York University Africa House (NYU) Africa House Leadership Award, as the Institute celebrated its gala biennial. Presenting the award, Professor Yaw Nyarko, Director of Africa House, said Dr. Oramah had been chosen for his outstanding contributions to promoting intra-African trade, industrialization in Africa and helping the continent to the growth. Professor Nyarko noted that under the leadership of President Oramah, Afreximbank has witnessed exceptional financial performance, with a significant increase in the asset base and a doubling of the balance sheet to $ 12 billion.…

The Republic of Congo welcomes the agreement reached with the International Monetary Fund (IMF) to support its program of economic and financial reforms under CEMAC. This agreement is supported by other multilateral donors, such as the World Bank and the African Development Bank (AfDB). Through this agreement, subject to the approval of a forthcoming IMF Board of Directors, the institution and its partners will provide the Republic of Congo with funding to support the three-year economic and fiscal measures. The Republic of Congo is pleased to have met all the criteria to be eligible for financing of its economic and…

BMCE Bank of Africa participated in the 3rd edition of the ” Morocco Capital Market Days ” organized in London on Monday, April 16th and Tuesday, April 17th by the Casablanca Stock Exchange and the London Stock Exchange and at the 1st edition of the Conference ” Morocco, a gateway to Africa “, organized on Wednesday April 18 by the Moroccan Embassy in Washington and the Casablanca Stock Exchange in the Citi Executive Conference Center in New York, in partnership with Citibank. These two events of international scope and scope aim to promote the Moroccan financial center as well as…

The 3rd edition of the annual conference of the International Network of Francophone Investment Promotion Agencies (RIAFPI) opened in Libreville under the High Patronage of HE Ali BONGO ONDIMBA, President of the Republic, Head of State. The meeting which evokes the urgency of the industrialization of the continent, takes place at the Counter of Investment, headquarters of the National Agency for the Promotion of Investments (ANPI-Gabon). The event welcomes the representatives of the 18 investment promotion agencies members of RIAFPI, as well as several experts and business leaders who work on the theme of industrialization in the French-speaking world. The…

Maroc Telecom acquired 10% of the capital of its Burkinabe subsidiary Onatel S.A. The transaction took place on the Regional Stock Exchange (BRVM) for a value of 41 million euros. The transaction was settled at a price of 8,000 FCFA per share. The Moroccan group now holds 61% of the capital of the Burkinabe company. As a reminder, Maroc Telecom took over 51% of Onatel in December 2006 through a privatization operation in which several regional groups participated.

The insurance sector is currently living in a climate of uncertainty regarding the measures to be taken to equip itself with the necessary tools for the fight against money laundering, the financing of terrorism and the non-proliferation of weapons of mass destruction ( AML / CFT / ADM). Indeed, insurance companies are in a process of compliance with national and international regulatory requirements in the field, one of the necessary actions to get Tunisia out of the blacklist of third countries at risk BA / FT / ADM of the European Union and the FATF. In this general context,…

On April 20, 2018, the BANK OF AFRICA Group presents the results as of December 31, 2017 of its six subsidiaries listed on the Regional Stock Exchange (BRVM) of Abidjan. These are, in the order of their IPO: BOA-BENIN (2000), BOA-NIGER (2003), BOA-CÔTE D’IVOIRE and BOA-BURKINA FASO (2010), BOA-SENEGAL (2014) and BOA-MALI (2016) The event takes place Friday, April 20 in Abidjan, Azalai hotel at 17.00, in the presence of the financial community: stockbroking companies, investment funds, institutional and private investors, analysts and journalists. The aim is both to deliver quality financial communication, reliable and transparent, and to work with…

Of the two candidates in the running to succeed Miriam Bensalah at the head of the General Confederation of Enterprises of Morocco (CGEM), that of Salaheddine Mezouar is the most political, the most intriguing too. In turn industrial, Minister of Commerce, Minister of Economy and Finance, Minister of Foreign Affairs, Salaheddine Mezouar is one of the two candidates in the running for the presidency of the CGEM. With his running mate Fayçal Mekouar, vice-president of the employers, Mezouar share favorite against the duo formed by Hakim Marrakchi and Assia Aiouch Benhida. Only downside, the former chairman of the political…

Sékou Dramé, 45, succeeds Alioune Ndiaye as director of Sonatel. The Senegalese subsidiary of the Orange group held its board of directors on April 17 in DAKAR, marking the departure of Mr. Ndiaye, promoted as Executive Director of Orange Middle East and Africa (OMEA), serving on the Executive Committee of the Orange Group. However, Alioune Ndiaye does not permanently abandon Sonatel, since he will now chair the board of directors. The new Sonatel Director General, Sékou Dramé, is a telecommunication engineer with a degree from the Ecole Nationale Supérieure des Télécommunications Paristech. He has been with Sonatel for 15 years…

By Lilia Hachem Naas, Director, Office for North Africa, Economic Commission for Africa (ECA) In Africa, the train of regional integration is now under way. On 21 March 2018 in Kigali (Rwanda), the majority of the continent signed the agreement for the establishment of the African Free Trade Area (ZLECA), the largest free market of goods and services since the creation of the WTO. In North Africa, from Sudan to Mauritania, via Egypt, Libya, Tunisia, Algeria or Morocco, all the countries have responded: the ZLECA offers them an opening towards new markets in the world. time when trading partners such…

By Jacques Leroueil With a focus on profitability for the time being, the pan-African online sales platform is aligning a new negative exercise. Like its big brother and American model Amazon, long deficit, the pan-African company e-commerce Jumia multiplies the years in the red. Posted in a statement Friday, from the Lagos continental headquarters, the results of fiscal 2017, are no exception. Sales of the online sales platform may well have increased by 11% in 2017 (to 93.8 million euros), its losses have not diminished, the gross operating deficit reaching 120 million euros, compared to 91.3 million euros a year earlier.…

The Board of Governors of the Islamic Solidarity Fund for Development (ISFD) closed its 11th meeting on Thursday, April 6, 2018 in Tunis. During this meeting, the Council adopted the Fund’s annual report, which highlights the most important achievements of the ISFD in the fight against poverty in member countries. The total amount of projects and programs approved by the Fund since its establishment amounted to US $ 734 million for 117 concessional loans and grants to 33 countries. Of this amount, $ 175 million was allocated in 2017. This funding has been allocated to several sectors such as microfinance,…

Alexandre Rothschild, 37, is expected to succeed his father, David Rothschild, on May 17 at Rothschild & Co.’s general meeting. Until then, executive chairman of the group, 75-year-old David passes the torch to his son but remains ‘active as new Chairman of the Supervisory Board. Alexandre de Rothschild will have to make a name next to his legendary surname of seven generations of bankers. If father, David, was the architect of the reconstruction of the French family bank, he will give more momentum certainly in private equity, currently the third pillar of the bank alongside the advice on mergers and…

Engaged in the framework of the national strategy of financial inclusion, the group Banque Centrale Populaire launches, this Monday, April 16th, its solution of mobile payment “BPAY”. This electronic wallet, backed by a bank account, ensures an unprecedented convenience to the realization of money transfer and payment transactions. Downloadable on App Store and Google Play, the first version of the mobile application “BPAY” allows its users: – to transfer money instantly from mobile to mobile -make instant transfers from mobile to bank account; – to carry out different payment transactions; – to follow the history of the operations carried out…

IDEMIA, the world leader in Augmented Identity, provides HSBC’s all-new, exclusive black card – a metal-clad card with a dual interface (contact and contactless) designed to offer travel and fashion experiences. unique to its owners. IDEMIA’s metal cards add to HSBC’s credit cards in the UAE. HSBC’s new “Black Credit Card” is designed for high-end customers and offers exclusive benefits such as 200,000 AirMiles at registration, 100,000 Air Miles at each anniversary, accelerated rewards of up to 2 , 5 Air Miles per 1 dihram spent on the card, free and unlimited access to the lounge lounge for card holders…

• Large onshore and offshore blocks in the emirate have been opened for a new competitive round of bidding • Estimates suggest that blocks contain substantial amounts of oil and gas • Successful bidders will have the opportunity to explore, then develop and produce discoveries with ADNOC • Potential partners are invited to register their interest for an invitation to international roadshow presentations on new blocks Abu Dhabi National Oil Company (ADNOC) announced today, as part of Abu Dhabi’s first comprehensive licensing strategy and on behalf of the Supreme Petroleum Council (SPC), the details of the first round six oil…

The Economic Commission for Africa and Ethiopia signed on Friday an agreement marking the start of the renovation of Africa Hall, the cradle of the Organization of African Unity (OAU), now the Union. African. ECA Executive Secretary Vera Songwe and the Ethiopian Minister of Foreign Affairs Hirut Zemene Kasa signed the agreement that would start the estimated $ 57 million renovation, which will modernize the site’s facilities according to the standards. international. Ms. Songwe thanked the Government of Ethiopia and United Nations staff for their tireless work on the renovation project, which she said would turn Africa Hall into a…

In anticipation of the launch of the 2nd generation (phase) of the Alliance for the Fight Against Avoidable Blindness (AFAB), the Islamic Development Bank (ISDB) and the Islamic Solidarity Fund for Development, ISFD, organized a meeting of coordination on 19-20 March 2018. The official launch of AFAB 2ème Génération took place on the sidelines of the 43rd Annual Meeting of the Board of Governors of the IsDB Group in Tunis, Tunisia, 1-5 April 2018. The Under-Secretary of State for Health of the Republic of Turkey, HE Professor Eyup Gumu, made a speech at the opening of the AFAB coordination meeting…

“The African Union strongly condemns any use of chemical and other weapons prohibited by international law,” said the Commission of the Pan-African Organization in a statement dated 15 April 2018. Weighing his words, the Addis Ababa-based organization says it is “deeply committed to multilateralism” and stresses that “any response to such acts must be based on irrefutable evidence gathered by a competent, independent and credible entity and scrupulously comply with international law, including the primacy of the United Nations Security Council for the authorization of any use of force “. Africa, the statement continues, expects members of the UN Security…

By Leila El Andaloussi * New technologies do not spare any sector. That of corporate finance and the economy will also change. An innovative financing solution, the Crowdfunding, will soon see the light of day in Morocco and will give life to the dreams of many creators. In Europe and the United States, crowdfunding has seen unprecedented growth and has helped finance large parts of the economy, as well as social and cultural projects. What will happen to Morocco? Will it give the same impulse to the creative spirit of our entrepreneurs and will it initiate this long-awaited dynamic? In…

By Jacques Leroueil A pioneer in mobile commerce, Kenya crossed for the first time the symbolic threshold of 1000 billion shillings of quarterly transactions. The announcement was made Thursday by the Communications Authority of Kenya (CAK) who said in a statement that “308.6 million transactions, valued at 1170 billion shillings ($ 11.7 billion) were recorded for the second quarter of fiscal year 2017-2018 (October 2017-December 2017), an increase of 64% over the previous period (714 billion shillings). The Kenyan regulator notes however that the number of transactions is him, down from one quarter to the other (308 million against 352 million…

The Africa Mini-Grid Developers Association (AMDA) announced its official launch on April 18, 2018, in 2 countries (Kenya, Tanzania) first then 3 other countries this year (Nigeria, Ethiopia and Uganda) and possibly throughout Africa. The current 11 member companies serve more than 11,000 connections and include innovative start-ups and public services. The International Energy Agency (IEA) estimates that nearly 290 million Africans will be served by mini-grids by 2030, also noting that mini-grids and other distributed and renewable represent the least expensive option to connect three quarters of the population. Mini-grids are small electrical grids with their own generation, storage and transmission…

The US Overseas Private Investment Corporation (OPIC), the African Development Bank and KfW are supporting the African Local Bond Fund (ALCB). Priority is given to housing, microcredit and agriculture projects. According to the protocol signed on April 18, 2018 in Frankfurt, CIPO contributed $ 40 million to the Fund while the African Development Bank provides a senior loan of ZAR 140 million (US $ 10 million) to support development. local corporate bond markets in Africa. This last loan was the first local currency loan obtained by the ALCB fund. The Fund was established in December 2012 by the German Development…

The selection of tenders for the construction of the Koukoutamba hydroelectric dam has been completed since last week according to the director general of the Organization for the Development of the Senegal River (OMVS), developer. With a record investment of $ 1 billion, Koukoutamba has a power of 300 MW, the largest dam ever erected by the quadripartite organization. Several times postponed, the selection of the prime contractor had seen a real pitched battle between Canadian, American and Chinese companies. It was finally the latter who found themselves on the home stretch. Subsequently the operation was suspended because of differences…

Senelec (Senegalese Electricity Company) has managed to solicit 30 billion FCFA from the market. Demand has exceeded supply. The transaction, launched in February, mobilized CFAF 38.2 billion through an investment syndicate led by CGF Bourse and Impaxis Securities. The interest rate applied is 6.5% to be assessed in relation to the investment grade rating granted to the agency by the Bloomfield agency. By category of investors, the lion’s share goes to legal entities. Banks subscribed for 11 billion FCFA against 6.9 billion FCFA for insurance and 7.2 billion FCFA for non-financial corporations. Households and individuals subscribed to around 10% of…

Groupe Renault has appointed Nadia Tazi, a Moroccan, to head the Group’s Information Systems Department (DSI) in the Middle East and India (AMI) region. Graduated from Al Akhawayn University with a masters degree in computer science, Nadia Tazi began her career at Dewhirst LadiesWear Morocco, an English textile multinational, as IT Manager in 2000, before joining the group. Renault in 2010 as technical director. Since 2013, Nadia Tazi holds the position of DSI of Groupe Renault Morocco. The manager will ensure from Morocco, its role of DSI of the Group in the AMI region while retaining the direct responsibility of…

The Amadeus Institute, independent Moroccan think tank, catalyst of debates strongly involved in the African problems, continues its initiative of reflection and exchanges in perspective of the accession of the Kingdom of Morocco to the ECOWAS, after a first conference in Dakar, March 29th. In partnership with the General Confederation of Enterprises of Morocco (CGEM) and with the collaboration of the Ivoirian Center for Economic and Social Research (CIRES), the Amadeus Institute organizes on April 20 in Abidjan a conference under the theme “Morocco in ECOWAS : Enlargement or deepening? ” “Côte d’Ivoire has recently become the leading destination for…