Author: Albert Savana

As revealed exclusively by Financial Afrik, an Air Côte d’Ivoire aircraft was immobilized on the tarmac at Bamako airport in response to the Oumar Diawara -BNI Gestion affair on the front page of our last issue. For an hour and 15 minutes, negotiations went well to free the aircraft, an Airbus, from the precautionary seizure made by the counsel of businessman Oumar Diawara in execution of a judgment recently rendered by the Court. Justice of ECOWAS. In its argument against the precautionary seizure, Côte d’Ivoire considers that the company that owns the aircraft, Air Côte d’Ivoire, is not the exclusive…

The National Union of Banks, Insurance, Microfinance, Financial Institutions and Commerce of Mali (Synabef) implemented its 72-hour strike notice from Tuesday, November 23 throughout the country. A widely respected slogan. This time, the strike concerns the banks, the pump attendants of the service stations of the multinationals Total, Shell and Oryx, and the service providers of the Pari Mutuel Urbain (PMU-Mali). The movement seems to be largely followed by banks, financial institutions and gas stations, with the exception of the Development Bank of Mali (BDM-SA). Report A tour through the city of Bamako highlights the atmosphere that reigns in front…

The International Exhibition of Information and Communication Technologies dedicated to Africa (SITIC AFRICA), the first five of which were held in Tunisia, will settle for a five-year period in Côte d’Ivoire. The sixth edition of the event will therefore be held in Abidjan from February 22 to 24, 2022, the organizers inform. “Towards innovative digital instruments” is the theme chosen for this edition during which 500 sector experts will work on Fintech, E-Health, E-Industry 4.0, Training 4.0, E-Agriculture… Etc. This, in order to find innovative solutions to make African companies models of resilience and efficiency in the face of economic…

The volume of transactions via electronic money accounts stood at 1.74 billion transactions valued at 20.451.66 billion CFA francs between July and December 2020, according to data in the latest monitoring report of the means and services of payment published by the BCEAO Payment Systems and Means Directorate. These figures represent increases of 50% in volume and 65.65% in value compared to the first six months of the year (1.16 billion transactions for 12.346.56 billion FCFA). According to the document, the number of intra-UEMOA transactions stood at 7.32 million for a value of 344.39 billion CFA francs at the end…

The mobile telephony market in the Democratic Republic of te Congo recorded a turnover of 415 million USD during the second quarter of 2021, reports the Regulatory Authority of Post and Telecommunications in Congo (ARPTC) through the Observatory of the mobile telephony market. It notes an increase of 4.5% compared to the previous quarter. In the rankings, the operator Vodacom, the leader, comes first with 149 million USD in revenue compared to 148 million in the first quarter of 2021, a variation of 0.51%. Airtel is second with revenues of 139 million USD, against 126 million between January and March…

The recourse on the international securities market through the issue on November 17, 2021 by Gabon of a bond loan of 800 million dollars, or 458 billion CFA francs, is variously appreciated by financial and economic analysts. With a maturity of 10 years for an interest rate of 7%, the funds raised through this loan are intended for the early redemption of more than 90% of the remaining outstanding amount of the issue of $ 736 million. , (420 billion CFA francs) of 2013 which expires in 2024. For the Gabonese authorities, the mobilization of this fund with international investors…

Already heavily sanctioned by the Economic Community of West African States (ECOWAS), Mali is now on the blacklist of the European Union, its main donor. The Europe of 27 blames the Malian transition for its deal with the Russian paramilitary company Wagner. On September 20, the head of European diplomacy, Josep Borrell, warned Mali that the involvement of the Russian group Wagner would seriously affect relations between Bamako and the European Union. And as if European pressure was not enough, US Secretary of State Antony Blinken on Saturday warned the Russian group of mercenaries Wagner against interference in Mali, calling…

Gabon has just closed a Eurobond of 800 million USD or 458 billion XAF at 7% interest rate for a 10-year maturity. The transaction closed on Wednesday, November 17 on the international financial market. This is a much more expensive loan than those made by the Ivory Coast, Benin and Senegal. In February 2021, Côte...

The Uniplaques Consortium has proposed to the Congolese authorities since last July the registration of the country’s car fleet estimated at 8 million (all types of vehicles) in the capital, Kinshasa, one of the most populous cities in Africa. If the proposal is accepted, the DRC would have a kind of physical and techno-digital one-stop-shop nationwide for the automobile. The solution would be accessible to every citizen across the country (26 provinces). At the end of the process, the vehicle division of the DGI will be transformed into a modern Single Window Automobile through a Public Private Partnership (PPP) contract.…

From our Special Envoy in Durban, Issouf Kagamate The 2021 edition of the Intra-African Trade Fair ended this Sunday, November 21 at the Durban international Convention Center in Kwazulu, South Africa. Despite a Covid-19 context that has strained African economies, the event recorded nearly 11,800 visitors, 46 countries represented and $ 36 billion in contracts were concluded, according to Kanayo Awani, general manager of the Commercial Initiative intra-African to Afreximbank. A record compared to the first edition in which nearly 7,000 participants took part. The first economy of Uemoa, Côte d’Ivoire will fall under the third edition scheduled for 2023…

The turnover of the Company of Studies and Works for West Africa (SETAO), a subsidiary of the Bouygues group specializing in consulting and engineering services in the construction industry, was down by 1.719 billion FCFA (2.578 million euros) in the third quarter of 2021 compared to the same period of 2020, according to data established by the leaders of this Abidjan-based company. This turnover stood at 7.706 billion FCFA against 9.425 billion FCFA as of September 30, 2020, a decrease of 18%. As for the operating result, it increased from 89.319 million FCFA to 1.357 billion FCFA against 1.268 billion…

The after-tax profit of Nouvelles éditions ivoiriennes –Centre d’éditions et de diffusion africaines (NEI-CEDA) recorded a sharp increase of 809.335 million FCFA (1.214 million FCFA) in the third quarter of 2021 compared to the same period of 2020, announced the leaders of this company based in Abidjan. This profit fell from 392 million FCFA as...

From our special correspondent in Durban, Issouf Kamgaté. Wednesday November 17 was Ivory Coast’s day at the second edition of the Intra-African Trade Fair (Iatf) currently being held in Durban, Kwazulu-Natal, South Africa. The Ivory Coast approached this forum in force, attracting a lot of sympathy from the distinguished visitors. This is particularly the case of the former president of the Commission of the African Union, Nkosazana Dlamini Zuma, architect of the AfCFTA with his famous “I have a dream”. Marking a rather long stopping time in front of the Ivorian pavilion, Ms. Zuma appreciated all her admiration for the…

United Mining Supply (UMS) of the SMB Winning consortium, which operates the mining logistics of this group, has been facing a workers’ strike since November 8. This caused a total halt in mining transport activities on these Port 1 and Port 2 sites in Kaboye, but also in Malapouya in the Boké region in north-western Guinea. The strikers’ demands essentially revolve around six (6) points: the rehabilitation of the buses which transported staff to Boké; a 100% salary increase taking into account the categorization by seniority; the strict application of the Mines and Quarry agreement; the outright withdrawal of new…

The African Import-Export Bank (Afreximbank) signed several agreements worth $ 5 billion on the second day of the Intra-African Trade Fair which is being held in Durban from November 15-21, 2021. These agreements cover the sectors of transport, logistics, renewable energies and financial transactions, according to Benedict Oramah, the president of the institution. They aim, according to the Nigerian, to support trade initiatives in order to revive economies hit by Covid 19. In its mission to bring more to commercial activities in Africa, the bank has already set up several mechanisms to facilitate trade between African countries such as the…

The Bakwanga Mining (MIBA), located in the Kasai Oriental province in central DR Congo, is among the priority projects that will benefit from the financial support of the government in 2022, according to an announcement made to the National Assembly by the Prime Minister Sama Lukonde when he presented the 2022 fiscal year finance bill, estimated at 10 billion USD. In September 2020, the company had obtained funding of $ 5 million from the government to pay staff and strengthen production facilities. Already, on February 16, 2020, MIBA had obtained a pledge of funding of 200 million USD to revive…

By Rodrigue Fenelon Massala, senior reporter. Congolese-Malian businessman Oumar Diawara won an unprecedented legal battle against the State of Côte d’Ivoire on October 22 in the case between him and BNI Gestion. The highest judicial body in the ECOWAS zone agreed with him. The Abuja-based court condemns Côte d’Ivoire to pay damages set at one billion two hundred and fifty million CFA Francs (1,250 million FCFA) in addition to restitution of land whose value is set at twenty billion of CFA francs. Genesis of an imbroglio: when BNI Gestion sold Perl Invest To understand the case, a brief look back…

Rwandan Prime Minister Edouard Ngirente announced on Tuesday that his country is in the final stages of manufacturing vaccines. A news that delighted the hall of the Durban International Convention Center, in KwaZulu-Natal, South Africa, where the second edition of the Intra-African Trade Fair (IATF) is being held. At the end of October, the German laboratory BioNTech announced that it will begin in mid-2022, the construction of production sites for messenger RNA vaccines in Senegal and Rwanda. This, after a commitment made at the end of August between the stakeholders during a meeting in Berlin. The Rwandan site is designed…

Cameroon, whose objective is to become an emerging economy by 2035, launched a few months ago, the National Development Strategy (SND 30) for the period 2020 and 2030. The achievement of this vast program generally requires a financing of more than 37,500 billion FCFA ($ 66 billion) according to the Ministry of the Economy, Planning and Regional Development, which does not rule out the possibility of making adjustments. Before the implementation of this development plan, one of the most difficult equations to resolve is the mobilization of financing in a difficult economic context since the revival of activity remains timid,…

Verdant Capital announced, in a press release on November 15, that it has closed 4 private equity transactions in South Africa, with significant fundraising for Bridge Taxi Finance and Retail Capital, the sale of Nedan Oil and the sale of Baxi at MFS Africa. According to the document, the investor has raised $ 20 million in debt financing on behalf of Bridge Taxi Finance from a small group of leading international investors. These funds, it is said, will be used to accelerate the growth of the facility’s finance lease portfolio. Verdant Capital also says it has raised $ 10 million…

On a trip to Moscow (Russia) last week, Abdoulaye Diop, Malian Minister of Foreign Affairs, discussed on November 11, 2021 with his Russian counterpart Sergei Lavrov on several subjects including economic and commercial development between their two countries. According to the Malian diplomat, Russia was “one of the first to assist Mali in various fields, and not just military”. His country has several types of “untapped” potential, he said, adding that trade can follow several axes. For example, Russian companies may wish to work with Malian cotton since Mali is “the leading African producer” in this area. “Mali is also…

A masterstroke for the CEO of Fidelity Bank PLC, Ms. Nneka Onyeali-Ikpe, one of the few African women to run a bank. With more than three decades of experience and a background in several institutions including Standard Chartered Bank and Zenith Bank, the head of one of Kenya’s top-rated banks managed to raise USD 400...

On the morning of Sunday, November 14, armed men stormed a gendarmerie detachment in Soum province, located in northern Burkina Faso. The provisional report announced the evening by the government shows 20 people killed including 19 gendarmes and a civilian. “We suffered a cowardly and barbaric attack, but the men bravely resisted the enemy,” said Maxime Koné, the Minister of Security. Adding that “22 survivors were found”. “A sincere official assessment will be made,” he said. The attack was carried out by “a large number of armed individuals” circulating “in several pick-ups and motorcycles,” the government said. Operations are still…

The second edition of the Intra-African Trade Fair (IATF 2021) starts this Monday, November 15 with personalities from the world of commerce, entrepreneurs, financiers, governments and regulators. All these social strata will debate the acceleration of trade and investment across the African continent. Organized by the African Import-Export Bank (Afreximbank) in collaboration with the African Union (AU) and the Secretariat of the African Continental Free Trade Area (Zlecaf), IATF 2021 takes place at the Durban International Convention Center , in South Africa, until November 21, 2021. A coastal city in the province of KwaZulu-Natal in eastern South Africa, Durban is…

The son and political heir of the former Libyan leader the late Muammar Gaddafi officially applied for the presidential election on Sunday November 14th scheduled for December 24th. The false suspense that could still be observed has just been lifted. the Muammar Gaddafi’s son had already announced his presidential intentions. The “sword of Islam”, that’s the meaning of his first name, is officially back on the Libyan political scene as Financial revealed in February 2021. Aged 49, Saif al-Islam, second son of Muammar Gaddafi, has long harbored ambitions to succeed his father. He was long presented as the potential successor…

Following the sudden death of its outgoing president, the irremovable Djibril Bopaka, the National Union of Congolese Economic Operators (UNOC) elected on November 11, 2021 in Brazzaville, during an extraordinary general assembly, Dr Jean Daniel Ovaga, head of the Sécurex Clinic at the head of the employers’ organization. The election of Jean Daniel Ovaga to the presidency of the Congolese employers constitutes, in the eyes of several observers of the business world, a renewal on the Congolese employers’ chessboard. He will be responsible for settling the issue of domestic debt which penalizes many Congolese economic operators and expressing the entrepreneurs’…

The State of Niger, through its General Directorate of Treasury and Public Accounts, raised on November 11, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 27.500 billion FCFA (41.250 million d ‘euros) at the end of its issue of assimilable Treasury bonds (BAT) called “support and resilience bonds”...

The net profit of Tractafric Motors Côte d’Ivoire (TMC), which specializes in the sale of new motor vehicles, increased by 158% at the end of the third quarter of 2021 compared to the same period of 2020. This result stood at CFAF 2.791 billion against CFAF 1.082 billion as of September 30, 2020. According to...

The International Finance Corporation (IFC) has arranged a financial package of 161.25 million euros for the CIMAF group (Ciments d’Afrique) in order to stimulate its cement production and finance its sub-regional ambitions. Proparco and Emerging Africa Infrastructure Fund (EAIF) also participated in the financing. The facility comprises a loan of EUR 92.5 million for own account from IFC, a parallel loan of EUR 33.75 million from Proparco and a B loan of EUR 35 million from EAIF. It should enable CIMAF to expand its existing cement grinding plants in Ghana and Mali and to build a new integrated state-of-the-art cement…

The Council of Ministers of Mali proceeded, Wednesday, November 10, to the adoption of the draft texts relating to the ratification of a financing agreement signed on September 21 in Bamako with the International Development Association (IDA) relating to phase II of the regional project to support pastoralism in the Sahel. Through this agreement, IDA is providing funding of 24.8 million euros to the country. “This funding is intended to support the efforts of the government of the Republic of Mali to promote the pastoral sector, improve the resilience of pastoralists and agro-pastoralists in the targeted areas and promote the…