Author: Albert Savana

The eyes of the Malian authorities of the transition are on Accra (Ghana) where a double summit is being held this Sunday, January 9, on their draft timetable transmitted at the end of December to the Economic Community of West African States (ECOWAS ). Even if a new schedule of shorter duration would have reached the president of the instance, according to our sources. From his palace in Bamako and on the plane to Accra where two summits devoted to Mali are being held, Assimi Goïta, the Malian president of the transition and his Minister Abdoulaye Diop of Foreign Affairs…

The Moroccan Interprofessional Pension Fund (CIMR) increased its shares to 11.55% of the capital of the Banque Centrale Populaire (BCP), with 23,484,710 shares in total. The announcement was made on January 3, 2021 by the Moroccan Capital Market Authority (AMMC). The CIMR, which thus crosses the only 10% in the capital of BCP, indicated that it had acquired on the block market, on December 28, 2021, 5,056,366 shares of the bank at a unit price of 277 dirhams. And that she plans to stop buying BCP in six months. BCP carried out, between August and September 2021, an operation to…

Chinese Foreign Minister Wang Yi begins this Tuesday, January 4, his first foreign visit for the year 2022 on the African continent. The countries involved in this four-day tour are Eritrea, Kenya and the Comoros. This journey aims to help these East African states “to defeat the pandemic” of Covid-19, to “achieve an economic recovery” and to “integrate new measures of cooperation between China and Africa “. It takes place a little over a month after the holding of the Sino-African summit (Focac) in Dakar (Senegal). Since 1991, the Chinese Foreign Minister has started his visits of the year to…

Digital Realty Trust Inc, an American company specializing in data center management, announced on Tuesday (January 4th) that it had agreed to take a majority stake in Teraco Data Environments Pty, Africa’s largest data center operator based in South Africa. . After the deal closes, Digital Realty will own approximately 55% of the total stake in Teraco, while the remaining 45% will be held by a consortium of existing shareholders, including management, Berkshire Partners LLC, Permira, van Rooyen Group, Columbia Capital, Stepstone Ventures and Teraco Connect Trust. The transaction, estimated at more than $ 3.5 billion, is expected to close…

Central Africans will be slightly better paid from the start of this year, following the government’s decision to revalue the guaranteed minimum interprofessional wage on (SMIG) from 18,850 to 29,000 FCFA. This increase of 35% in absolute value constitutes the first revaluation in thirty years. In the process, the guaranteed minimum agricultural wage (SMAG) has also been increased, since it can no longer be less than 1000 FCFA per day. Despite a difficult economic situation reinforced by the health crisis linked to Covid-19, these increases only partially satisfy the unions who would have liked a 100% revaluation. According to trade…

In office since 2016, Nigerian Mohammed Barkindo, secretary general of the Organization of the Petroleum Exporting Countries (OPEC), is about to step down after two successive terms. The identity of his successor was announced on Monday, January 3 by the cartel in a statement released on the eve of its monthly meeting. This is Kuwaiti Haitham al-Ghais (photo) who will take office on August 1 for a three-year term. Presented as a “veteran of Kuwait Petroleum Corporation (KPC)”, a state conglomerate of which he is the current deputy director of international marketing after having been the director of the office…

This is one of the recommendations resulting from the National Conference on Refoundation in Mali, launched on December 11, 2021 in various circles and municipalities across the country. The participants, indicates a note read on Thursday 30 at the end of the proceedings, voted in favor of the extension of the transition in order to be able to carry out structural institutional reforms and allow credible, fair and transparent elections. “The deadlines put forward vary from six months to five years”, specifies point 7 of the 46-page document read in the presence of Colonel Assimi Goïta, the president of the…

Togolese President Faure Gnassingbé announced, in a speech delivered on the night of Thursday 30 to Friday 31 December, a loan of one month’s salary to civil servants, in response to inflation observed for several months. The measure was the least expected: “after reflection, I instructed the government to grant civil servants in the public and parapublic sectors and retirees, from next week, an advance of one month’s salary, which will be repayable in installments. monthly until December 2022. I encourage the private sector to take similar action, ”he said. “For retirements from 2020, the expected payment of allowances equivalent…

The Democratic Party of Côte d’Ivoire (PDCI) reacted to the statement by the public prosecutor, Adou Richard. Who announced, last Monday, the possibility of launching legal proceedings against the former Ivorian head of state Aimé Henri Konan Bédié (photo), in his capacity as leader of the opposition. On Wednesday, December 29, the spokesperson for the PDCI, Soumaila Bredoumy, affirmed that the party will respond “without fear or fear” to legal proceedings in connection with the abuses of the presidential election of 2020. Taking into account article 54 of law number 2005-201 of June 16, 2005 on the status of former…

The African air transport sector, faced with a difficult economic situation reinforced by the onset of the health crisis linked to the Covid-19 pandemic, is expected to regain color next year. The African Airlines Association (AFRAA) specifies in its annual report that traffic could reach 67 million passengers in 2022, an increase of 55.81% compared to forecasts for the current year. “For 2021, we estimate that African airlines will carry 43 million passengers, or about 45% of 2019 traffic,” she said. A gradual improvement in activity which is explained by the reopening of air borders closed due to the pandemic…

Facing the press on Monday, December 27, the Attorney General of the Republic of Côte d’Ivoire, Adou Richard, threatened to prosecute those who caused acts of violence during the 2020 presidential election. “All those who contributed to the civil disobedience of the presidential elections of 2020 will be prosecuted … They will be subjected to all the rigors of the criminal law, the objective being to fight against the impunity of the perpetrators of serious offenses committed especially during each electoral period” , did he declare. As for the charges, the public prosecutor indicates that the judges who will be…

In Senegal, the official launch of the commercial circulation of the Regional Express Train (TER) was held on Monday, December 27. This train aims to relieve congestion in Dakar, which concentrates 25% of the population and 70% of the country’s economic activity. After its inauguration in January 2019, the Regional Express Train made several demonstration trips on Monday as part of the effective start of commercial operations initially planned from January 15, 2020, after a free period offered to the populations. According to the President of the Republic, who enumerated the various points which motivated the realization of this project,…

At least 500 Russian paramilitaries from the Wagner group arrived in Mali More than 500 paramilitaries from Wagner have arrived in Mali, according to several securit sources contacted by ‘Financial Afrik’. “We are confirming the arrival of 500 Russian troops,” a security source confirmed on condition of anonymity. Some Malian media reported on Thursday that these soldiers will be deployed in 10 localities in the country. These events take place as 15 countries, including France and Germany, “strongly condemned the deployment of mercenaries on Malian territory,” in a statement released Thursday, December 23. In addition, the 15 countries recalled that…

The municipality of Plateau wants to launch a municipal bond as part of its exercises. Before this fundraising operation for the development of the activities of the municipality, the mayor Ehouo Jacques and the president of the rating agency Bloomfield Investment Stanislas Zézé, signed a partnership on Tuesday, December 21 to make the operation a success. Indeed, in the contract, the financial rating agency Bloomfield will rate this local authority in order to enable it to raise long-term resources on the WAEMU bond market for the financing of its projects. Business center of the city of Abidjan, the municipality of…

The Ghanaian economy recorded its strongest quarterly growth since the advent of the Covid-19 pandemic. Data from the Ghana Statistical Service (GSS), the national statistics service, shows an increase of 6.6% in the third quarter of 2021, a far cry from the 3.9% recorded between April and June. “This 6.6% growth rate that we recorded for the third quarter of 2021 is the closest we have to the pre-2020 period, when the pandemic was about to set in,” said the government statistician, Samuel Kobina Annim, this week facing the press. This figure “brings us closer to the GDP growth rate…

In 2021, the volume of money stolen by cryptocurrency crooks around the world stands at $ 7.7 billion, according to a report by analyst firm Chainalysis. “This represents an 81% increase from 2020, a year in which scam activity has declined significantly from 2019, largely due to the lack of any large-scale Ponzi schemes. », Says Chainalysis. This sharp increase in the “turnover” of “kidnappers” is explained, among other things, by the emergence of “rug pulls” which represent 37% of all cryptocurrency fraud revenues in 2021, against 1% in 2020. The expression refers to the “flight” of the founders or…

The International Monetary Fund (IMF) announced on December 22, 2021 that it had approved a new 3-year Extended Credit Facility (ECF) agreement for an amount of approximately $ 570.75 million to meet significant financing needs of Chad’s balance of payments and budget, in particular by attracting financial support from official donors. A first disbursement of $ 78.28 million is announced immediately. According to the institution, the measures taken under the program supported by the ECF will contribute, in the long term, to placing the Chadian economy on a balanced and viable trajectory that will allow the country to achieve both…

Fired on November 24, 2021 from the boards of directors of Absa Group and Absa Bank with immediate effect, Sipho Pityana is turning to the courts to “obtain justice”. The ex-administrator on Wednesday (December 22) filed a 126-page petition in the North Gauteng High Court in Pretoria, claiming he was unlawfully dismissed while in “the legitimate exercise of [his] rights.” Sipho Pityana claims, in fact, “compensation for this violation of the law on companies”. “It is clear from the events that led to my dismissal that I am in fact a victim for having legitimately exercised my rights,” he said…

Present in some twenty African countries, the “Colow-So” prepaid card is now available in Ivory Coast thanks to a partnership between the Canadian company “Colow-So” and the Guaranty Trust Bank (GTBank CI). In Ivory Coast, according to 2020 figures from the Financial Inclusion Promotion Agency (APIF CI), 87% of the population is not yet banked. Banks and other financial structures are therefore multiplying initiatives to nibble market shares within this segment of the population which is largely made up of the informal sector. A sector which contributes 40% to the GDP. The partnership which now links the Garanty Trust Bank…

Mali will be the largest cotton producer in Africa for the 2021/22 season, followed by Benin, Côte d’Ivoire and Burkina Faso. A projection contained in a US Department of Agriculture (USDA) report from September 28, 2021. It results, in fact, from the exploitation of an almost record area and weather conditions favorable to the establishment and development of crops from June to early September, specifies the document whose authenticity has been confirmed by the Malian Company. for the development of textiles (CMDT). Mali has planted a record 795,000 hectares (ha), up 630,000 hectares (382 percent) from the boycotted harvest last…

Gone are the last speculations and allegations about a probable postponement of the 33rd edition of the African Cup of Nations (CAN). From January 9 to February 6, 2022, Cameroon will indeed host, as planned, the most important sporting event on the continent. Confirmation was given on December 21, 2021 in Yaoundé, during an audience at the Unity Palace between the Cameroonian Head of State Paul Biya and the President of the African Football Confederation (CAF), Patrice Motsepe . “I will be in Cameroon on January 7, 2022. And I’m coming to see football. Mainly, to experience the opening match,…

The quality of service on the networks of Togo Cellulaire and Moov Africa Togo, the two mobile telephone operators in Togo, does not comply with the quality obligations set by the regulations. This is the “final” observation drawn up by Arcep, the regulatory authority for electronic communications and postal services, following an investigation carried out for the year 2021. In a press release published to this effect, the regulator indicates that its investigation focused on the one hand, on voice service indicators such as voice quality, call cut rate, call success rate and, on the other hand, on data service…

The Caisse des Dépôts et de Consignations du Niger is expanding its investor capital with the African Development Bank (AfDB) group which approved, on December 16, 2021 in Abidjan, a grant of US $ 420,000 “to consolidate its strategy in terms of capital markets ”. For the head of the AfDB’s Capital Markets Development Division, Ahmed Attout, “this financing is in line with one of the priorities of the Capital Markets Development Trust Fund, which is to broaden the base of institutional investors. “. Originating from the Trust Fund for the Development of Capital Markets (Cmdtf) managed by the Bad,…

A public electricity utility concessionaire, Energy of Cameroon (ENEO) estimates that electricity supply has improved in recent months. Based on “letters of appreciation” from the public, the company notes “a significant drop of over 50% in alerts to household and business customers for power outages.” These are the first signs of increased investment in the production and distribution segments following the fundraising in early 2021 on the local banking market of CFAF 100 billion. “This customer perception is aligned with the improvement of key indicators of service quality assessment. An 18% decrease in the duration of outages compared to last…

The external accounts of the Ivory Coast are positive with a surplus of 564 million dollars in 2020. A performance which confirms the green signals of the trade of goods and services of the Ivory Coast with the rest of the world. This information given by the national director of the BCEAO, Coulibaly Chalouho, on December 17 during a presentation ceremony of the results of the country’s external accounts, also indicates that the overall balance of the 2020 balance of payments emerged in surplus of 1 , 04 billion dollars, marked by a consolidation of net foreign assets. But the…

At 190.6 billion dirhams, or 19 billion dollars, the turnover of companies listed in Casablanca shows growth of 8.4% at the end of September 2021. Industrial stocks and the financial sector are the two engines of this dynamism. Barring an unlikely turnaround, companies listed on the Casablanca Stock Exchange should achieve very good growth this...

“The most beautiful commune”, a citizens’ initiative set up to help Ivorian local communities to be financially autonomous, organized a round table on the theme: “UEMOA capital market and financing of communities in Côte d’Ivoire” . In Côte d’Ivoire, like most countries in sub-Saharan Africa, local communities are totally dependent on government funding. And very often the allocated budgets are below the needs of the populations. To remedy this, an initiative called “The Most Beautiful Municipality” was set up and assigned as missions “the search for solidarity funding, financial advice to local elected officials, lobbying and evaluation of citizens’ initiatives.…

The governor of the Central Bank of the Republic of Guinea (BCRG), Lounceny Nabé, and his two vice-governors were removed from office by a presidential decree published on the night of December 7 to 8, 2021. They are replaced by Karamo Kaba, who was promoted to governor, a strategist economist who was on duty at Ecofi Investment France. Its vice-governors are Mohamed Lamine Conté, previously Director General of Supervision, and Souadou Baldé, until then Vice-Manager and Head of the Supervision Department of credit institutions. This sweep comes three months after the coup d’état led by Colonel Mamadi Doumbouya against Alpha…

The bond loan by Public Call for Savings (APE) issued by the Development Bank of Central African States (BDEAC) called “BDEAC 5.60% 2021-2028” was closed on December 7, 2021 with the mobilization of 115 billion FCFA, or nearly 198 million dollars, with an overall subscription rate of 115% compared to the initial amount of 100 billion FCFA, or 172 million dollars. As with the previous loan launched in 2020, we noted a strong mobilization of economic agents with variables in the countries of the Economic and Monetary Community of Central Africa (CEMAC) with the banks largely in the lead. In…

The French Development Agency (AFD), with its “Choose Africa Resilience” offer and its subsidiary dedicated to the private sector (Proparco), signed, Tuesday, December 7 in Kinshasa (DRC), a USD 15 million partnership with the bank EquityBCDC, which has invested in technology and innovation, to guarantee private companies that are victims of the adverse effects of Covid-19. This partnership is “of great importance,” commented AFD CEO Rémy Rioux. Who signed the documents with the president of the Equity group, James Mwangi, on the sidelines of the 7th edition of the annual Makutano Forum which takes place in Kinshasa. A subsidiary of…