Author: Editor

Coris Capital SA, a private equity fund of the Coris group, has just invested C $ 3 million (just under CFAF 1.3 billion) in the Bomboré gold mining project located 85 km east of Ouagadougou . According to the highly informed Business Letter (LLA), the investment was made through a private placement of 3.750 million shares of the Canadian mining company, Orezone Gold, which explores the Bomboré mining license whose gold deposit is considered one of the most important undeveloped West Africa. Coris Capital S.A, which had invested, in August 2017, almost the same financial envelope in the graphite mining…

Nadia Fettah, General Manager of Saham Finances, was named CEO of the year at the 6th edition of the AFRICA CEO FORUM AWARDS on Monday, March 26th. In her speech, she thanked Moulay Hafid Elalamy, Minister of Industry, Investment, Trade and Digital Economy of the Kingdom of Morocco and Raymond Farhat, CEO of Saham Finances, for their leadership and their vision. She also urged men to trust more women in business “Together we will succeed better and faster to build this Africa of which we all dream, Africa that wins, Africa champions.

Mediterrania Capital, through its MCIII fund, has acquired approximately 30% of the capital of Cofina Bank. Amount of the transaction, $ 20 million. This is an important turning point for the bank specializing in mesofinance. Through this investment, Mediterrania Capital affirms its ambitions for West and Central Africa through the MCIII fund, with 250 million euros. Founded in 2013, the Cofina Group, rated “tAA” by Wara Agency in the long term, is the first African financial institution dedicated to mesofinance, the “missing link” between microfinance and traditional banking, which offers the possibility African SMEs (90% of private companies on the…

The launching conference of the African Finance Laboratory “AfricaFinLab” was held in Abidjan at the headquarters of the BRVM under the chairmanship of Mr. Bruno KONE, Ivorian Minister of Communication, the Digital Economy and the Post Office. At the end of this conference, Dr. Edoh Kossi AMENOUNVE, Managing Director of the BRVM, has been appointed President of AfricaFinLab. AfricaFinLab is a laboratory of ideas, support and promotion of finance in Africa, serving public and private actors. Its main objective is to intervene levers, which are transforming African finance by relying, in particular on exchanges and international cooperation. AfricaFinlab also aims…

On the sidelines of the celebration of World Water Day, Thursday, March 22, the director general of Senegalese Water (SDE), Abdoul BAAL spoke with Financial AfriK. The SDE announced a coverage rate of 98% in 2017, what explains this performance? Exactly, World Water Day is an opportunity to take stock of our activities. Our goal is for everyone to have access to water. SDE has been in existence for 22 years now. At the time, when it started in 1996, the access rate was only 80%. Today, it is 98%. This means that in urban areas, almost all the population…

Magnates Place is pleased to announce the third edition of the Industry Sector Conference Luxury and Business in Sub-Saharan Africa to be held on Wednesday 13 June Geneva in the presence of an international professional audience from economic world, business and luxury industry. GLOBAL LUXURY IN AFRICA, A VERY PROMISING MARKET After the success of the two previous Parisian editions, in the presence of an informed public such Cartier, Perrier-Jouët, Bloomberg, Bucherer, LVMH, Yves Saint Laurent. This first edition of Geneva will look at both Africa Business, the sector luxury in Africa, trends in the luxury sector and HNW millenials.…

Orange Bank has launched its website in support of its mobile application and announces the establishment of consumer credit ranging from 500 to 75,000 euros, said Stephane Richard, CEO of Orange, Thursday, March 22. The website will allow Orange Bank customers to easily manage their account from a computer. It comes in support of mobile applications on Android and iOS. The online bank of the operator opens access to personal loans of 500 to 75,000 euros for periods of one to six years, reserved for its customers. It promises simplified procedures (of the order of 10 minutes) but has not…

France granted a loan of 120 million euros, or nearly 79 billion FCFA, to Côte d’Ivoire as part of the rehabilitation of the international road linking Bouaké, the big city of the Ivorian center, in Ferkessédougou, a crossroads city from the north to the hinterland countries. The loan agreement signed on March 22 is “repayable at the interest rate of 1.61%, for a period of 20 years including 5 years of deferred”, said Adama Koné, the Ivorian Minister in charge of the Economy and Finance. The project involves a 125 km section from Bouaké, the other 90 km to connect…

In a statement dated March 22, 2018, the Commission des Marchés Financiers said that it received an alert on March 20, 2018, about the activities of an entity called “ADAM E-BUSINESS SPACE” based in Yaoundé and whose In recent months, the promoter has been providing financial services to individuals through promises of very advantageous returns on the financial markets. According to preliminary information, more than 10 million CFA francs have already been collected from the public. The Financial Markets Commission wishes to inform the public that the solicitation, advertising and solicitation of funds for financial investments with a promise of…

Wärtsilä delivers the world’s largest hybrid solar power plant, reducing annual CO2 emissions by 18,500 tonnes The technology group Wärtsilä announced today that it has delivered the world’s largest hybrid solar power plant. Wärtsilä will therefore provide reliable and sustainable energy round the clock, which is essential for conducting off-grid gold mining operations and demonstrating the enormous potential for integrating renewable energies into the market. as the primary source of electricity. Wärtsilä has been selected by Total Eren SA, the world’s independent energy producer and renewable energy company, and the African Energy Management Platform (AEMP) for the construction of this…

“With the signing of the Kigali Declaration for the launch of the African Continental Free Trade Area, Africa has taken a giant step towards continental integration, the pan-African vision and the development of our continent,” he said. Vera Songwe, Executive Secretary of ECA. Speaking at the official signing of the ZLECA today in Kigali, Ms. Songwe noted that this historic moment demonstrates the determination of African leaders to bring together the diversity of the continent and materialize this flagship project of Agenda 2063. of the African Union. She thanked all UN agencies for their support and affirmed that ECA was…

Despite a difficult environment, the banking group saw its activity and earnings rebound in 2017. Equity Group Holding, the first Kenyan bank, reported strong 2017 annual results on Thursday: at 18.9 billion shillings ($ 186 million), its annual net profit is up 14 percent from the previous year (16 , 6 billion shillings), driven in particular by an increased geographic diversification of its activities and an expansion of its revenue channels (digital growth with the Equitel digital financial service). Another strength of the group, its cautious risk management: with a bad debt rate of 6.3% at the end of 2017,…

One of the key tools for monitoring the implementation of the African Continental Free Trade Area (#ZLECA) will be the country business index just unveiled at the Business Forum on the eve of the signing of the the historic agreement. The Economic Commission for Africa (ECA), through its African Trade Policy Center (ACPC), has developed this index to measure the impact of the ZLECA through the impact generated for private operators . ECA Executive Secretary Vera Songwe explains that the ZLECA Business Country Index brings together the views of business in Africa and ranks countries according to how they implement…

A strong delegation of the National Episcopal Conference of Congo (CENCO), led by its president, Monsignor Marcel Utembi, archbishop of Kisangani and his vice-president, Monsignor Fridolin Ambongo, coadjutor Archbishop of Kinshasa and next successor of Cardinal Laurent Monsengwo, is presently in Canada for a week. The mission of the Catholic Bishops of Congo to Canada will travel to Ottawa, Montreal and Toronto, primarily to advocate with government and religious authorities, the Canadian economic community and Canadian civil society committed to human rights, democracy and social justice, with a view to seeking diplomatic, technical and financial support, including Canadian expertise, to…

Elections in the DRC: Bishops of CENCO in Canada to solicit technical and financial support A strong delegation of the National Episcopal Conference of Congo (CENCO), led by its president, Monsignor Marcel Utembi, archbishop of Kisangani and his vice-president, Monsignor Fridolin Ambongo, coadjutor Archbishop of Kinshasa and next successor of Cardinal Laurent Monsengwo, is presently in Canada for a week. The mission of the Catholic Bishops of Congo to Canada will travel to Ottawa, Montreal and Toronto, primarily to advocate with government and religious authorities, the Canadian economic community and Canadian civil society committed to human rights, democracy and social…

Driven by a dynamic equity market, the manager of the Nairobi Stock Exchange recorded solid results in 2017. Nairobi Securities Exchange PLC, the company that manages the Nairobi stock market, announced Monday a net profit up 17.56%, to 216.25 million shillings (2.1 million dollars) for the year s’ ending December 31, 2017. Turnover increased by 5.57% to 757.03 million shillings ($ 7.5 million). Commenting on these results, the group’s management stated that “this performance was the result of a strengthening of the trading activity on the bond and equity markets, which rose by 1% and 17%, respectively”. The equity sub-fund…

Nicolas Sarkozy was detained as part of the investigation into suspicion of Libyan financing of his 2007 campaign. According to Reuters citing a judicial source, Nicolas Sarkozy is currently being heard in the premises of the judicial police in Nanterre on suspicion of illegal funding for his 2007 presidential campaign. This is the first time Nicolas Sarkozy has been heard about this since the opening of a judicial inquiry in April 2013. The detention of the former president could last up to 48 hours.

The West African Regional Stock Exchange (BRVM) launched the ELITE BRVM LOUNGE Program with the presentation of it first cohort of companies on Monday, March 19, 2018 in Abidjan under the chairmanship of the Ivorian Minister of Economy and Finance. The ELITE BRVM LOUNGE program has effectively entered it active phase in the West African Economic and Monetary Union (WAEMU) on Monday, March 19, 2018 for an initial period of two (2) years. The launching ceremony saw the presentation of the first set of ten (10) companies identified at the end of the selection process. The chosen companies are: AGETIP…

The SMB-Winning consortium announces its partnership with Louis Berger, a global engineering consultancy, to strengthen environmental and social impact assessments (ESIAs) that will enable it to update and revitalize its environmental and social management plan (ESMP) ). The purpose of the ESMP is to frame the work related to mining activities in the SMB permits in order to identify the additional mitigation measures needed to better manage environmental impacts and to maximize the safeguarding of biodiversity and spillover effects. beneficial for the communities. Louis Berger will also develop a plan of additional priority measures and will assist SMB-Winning in the…

This Sunday, there was talk of cryptocurrencies on the sidelines of the meeting in London, Financial Stability Board (FSB). The body that coordinates financial regulation for the G20 countries has rejected calls (much to the relief of the markets?) From several countries that demanded regulation of cryptocurrencies, such as bitcoin. The FSB, however, stressed the need for greater international coordination in monitoring these rapidly evolving technologies, which still represent a tiny sector equivalent to less than 1% of global gross domestic product. “The first assessment of the FSB is that currently, these crypto-assets do not pose a risk to global…

The news of his appointment, at the beginning of this month, to the post highly Vice-President of the World Bank Group human resources, a first for an African, is not gone unnoticed, so much the Mauritanian asserts since 2015 as a central piece of the management device of the largest development institution. In October 2015 already, Jim Yong Kim, Chairman of the Group, used his skills to lead a of the most sensitive departments, the Central Vice Presidency responsible for ethics and professional conduct. Never aAfrican had been promoted to such levels of responsibility in the space of 2 years,…

the siège dand’Union africainand éthe construit en 2012 grâcand un don dand on Républithat populaire de ChinE (jusqu ‘to mobiliers), pour unmontant de 200 millionUS $ (154 millions d’euros). A deuxth chantier, the coNRCructionot du complexe «Peace et Becu” est to l’actif dand on Républithatédérale d ‘Allemagne who did un don de 21 millions d ‘euros (soit 29 millioUS $). BUdget dand’annore 2014 de Commission dand’Union africaine, d’unmontant de 308 milliards (308.048.376) US $ Dont 137.884.958 US $ to the titre des dépenproven de fonctionnement et 170.163.418 US $ to the titre des programeher éte financé to 97% par partenaires, withtrand hislement 3% dewithtribution par pays membres. En 2016Withur unbudget global de 522 millionUS $, the pays africains ne contribuent that pour 28% aufinancement dand’Union africaine, lheesteWithoit 72%, eit does de donateursparmi lesquels l’Union europednne, the États-Unis, the Banquemondiale, la Chine et laTurquie, coeven gros contributeurs. Dans un contexte où l’organio’clockon panafricaine œuvrand combattre terrorisme d ‘inspgo totion djihadiste et hislafisyou’reur le continent l’Union africaine compte mobiliser 750 millionUS $ at financement des opérations de maintien dand on paix. Une autritituation préoccupante eis the fact that la contribuproduction des États at budget dand’Union africaine est essentiellement porthee pAr 5 pays (Afrique du Sud, Libye, Algéseries, Égypteet Nigéria)…

At the end of Senegalese President Macky Sall’s two-day visit to Mauritania, the two countries signed an agreement on the exploitation of the largest gas field in West Africa. Located about 125 kilometers off the city of Saint-Louis (Senegal), straddling the Senegal-Mauritanian maritime boundary, the Grande Tortue deposit would contain gas reserves estimated at 450 billion cubic meters, which would make it the largest in West Africa. The discovery of this deposit located at 5 200 meters deep was announced in January 2016 by President Macky Sall following the surveys of the American company Kosmos. The latter then signed a…

The African Development Bank Group (AfDB) is providing budget support to the Central African Republic as planned in its treasury plan. It is in this dynamic that the Central African Minister of Economy, Planning and Cooperation, Governor of the Bank Felix Moloua and AfDB Country Manager for the Caribbean, Joel Sibaye Tokindang, signed the February 5 2018 in Bangui, a grant agreement of approximately 10,2 million US dollars to finance the second phase of the Support Program for Economic and Financial Reforms (PAREF II). Signed in the presence of the representatives of the financial partners in CAR and several senior…

Marrakesh, a pioneering city in terms of environmental protection, has acquired Africa’s first self-service bicycle service on the occasion of the COP22, which it hosted in 2016. This offer complements a public transport service and effectively resolves 24h / 24 travel issues, for a measured investment for cities and at a cost adapted to the income levels of each inhabitant. Smoove is proud to support cities wishing to improve the quality of life of their citizens by offering ecological and economical mobility solutions. Since then, Tunis and Abidjan have expressed their desire to revitalize their public transport while rising to…

● The big annual meeting of the African private sector will be held 26 and 27 march in Abidjan ● More than 1 200 personalities, from more than 60 countries, are expected to debate around the theme “African Champions: Time for Transformation” ABIDJAN, Ivory Coast, 8 February 2018, – / African Media Agency (AMA) / – The AFRICA CEO FORUM will hold its 6e edition the 26 and 27 next March in Abidjan, Cote d’Ivoire. On this occasion, more than 1 200 personalities, key decision-makers from industry, finance and politics, from more than 60 countries, will meet in what is…

The world of Financial Services has evolved considerably in recent years: changes in customer usage, installation of Digital Banking, intensification of regulations, geographic deployment, competition from new players … In this ever-changing environment in which the players must differentiate themselves, the control and exploitation of data are key factors and require structuring technological choices, in particular to offer services in inaccessible areas. In response to these changes, the BGFIBank Group has decided to upgrade its connectivity infrastructure. Indeed, the new network infrastructure now allows optimal management of the available bandwidth making it less difficult to use our tools and thus…

UNDP Administrator Achim Steiner announced, on 7 February 2017, the appointment of Abdoulaye Mar Dieye as Assistant Secretary-General, Office for Policy and Program Support, UNDP as of 1er March 2018. “Mar’s appointment comes at a critical time for UNDP as we strive to provide our partners and developing countries with more effective strategic advice to help them achieve their sustainable development goals,” he said. said Achim Steiner. “Mar brings to this position decades of experience in development policy as well as in-depth knowledge of UNDP, which should serve the organization in its evolution to meet the demands of a dynamic…

At the end of the IMF conference in Marrakech, Jawad Kerdoudi, president of the Moroccan Institute of International Relations (IMRI) takes stock of the situation in the Arab world. The IMF (International Monetary Fund) in partnership with the FMA (Arab Monetary Fund), the FADES (Arab Fund for Economic and Social Development) and the Moroccan government, organized an international conference in Marrakech the 29 and 30 January 2018 on the theme “Opportunities for all: growth, employment, and inclusion in the Arab world”. This conference brought together more than 500 participants from 22 countries. The purpose of this conference was to take…

QuickTech, Moroccan development startup technology solutions, conducted in 2018 year beginning with the launch of “EasyshairPro”, its new solution EC0 -intelligente  “eBusiness Card” that  revolutionizes the Business Networking.  “EasyshairPro” is an innovative solution professional contact management  and networking to make it more convenient, more resourceful and more efficient business networking companies.   The audacity of a Moroccan start-up that grew in strength. If SaaS is known as ” The turf ” of US computer tenors and Europe, it is clear that cloud service can also claim African with the emergence of young and surprising start-ups. This is the case of QuickTech. This powerful Moroccan startups been emulated by the challenge of…