Author: Albert Savana

The inflation rate fell from 4.9% in November to 6% in December 2021 in the countries of the West African Economic and Monetary Union, according to data published this week by the Central Bank of African States. West (BCEAO). This is its highest level since the start of the year. The data indicate that in...

The Bank of Central African States (BEAC) with the assistance of the World Bank (WB) is looking for consultants for project management assistance for the development of a tool for empowering macroprudential stress tests in the Economic and Monetary Community of Central Africa (CEMAC). This initiative is in line with the 2017-2020 Strategic Plan aimed...

Super gasoline goes from 615 to 635 FCFA / liter from February 1 to 28, 2022, i.e. 20 FCFA increase, reported on Monday January 31 a note from the General Directorate of Hydrocarbons consulted. As far as the price of diesel is concerned, it has not undergone any modification. It remains unchanged at 615 FCFA...

In the Democratic Republic of Congo, President Félix Tshisekedi kicked off construction work on the deep-water port of Banana in Kongo Central (north-west of the country), this Monday, January 31, 2022 in Moanda. According to the authorities, the platform will increase the volume of international trade and thus enable the country to respond to the...

The French ambassador to Mali, Joëlle Meyer, was summoned this Monday, January 31 by the Minister of Foreign Affairs and International Cooperation of Mali who notified him of the decision of the government which invites him to leave the territory within a period of 72 hours. The announcement was made in a press release signed...

The consolidated turnover of the Tunisian group ENNAKL Automobiles operating in the automotive sector (concession, rental and sale of automotive spare parts), recorded an increase of 20.05% as of December 31, 2021 compared to the same period. of 2020, announced the leaders of the group. This turnover amounted to 538.281 million dinars against 448.396 million...

The President of the African Development Bank (AfDB), Akinwumi Adesina, signed three financing agreements on January 27, 2022 with Amadou Hott, the Minister of Economy, Planning and Cooperation of Senegal before a parterre of partners and economic operators in Dakar. These cooperation and investment agreements are aimed at supporting economic recovery, accelerating industrialization and job...

The State of Niger, through its General Directorate of Treasury and Public Accounts, raised on January 27, 2022 an amount of 33 billion FCFA (49.5 million euros) at the end of its issue of similar bonds of the Treasury (OAT) with a maturity of 3 years on the financial market of the West African Monetary...

In the Democratic Republic of the Congo, the government increased the prices of petroleum products for the western zone, including the city of Kinshasa, following changes in the parameters of the price structure of these products, in this case the rate of exchange rate (the exchange rate for the US dollar is 2.005 FC on...

The prices of products imported by Senegal rose by 3.2% in November 2021 compared to the previous month, according to data from the National Agency for Statistics and Demography (ANSD) based in Dakar. This structure emphasizes in its note on the monthly indices of foreign trade prices that “this increase is mainly the result of...

For the second consecutive week, the needs of commercial banks in Mali will not be fully covered by the Central Bank of West African States (BCEAO), the common issuing institution of the 8 countries of the Union economic and monetary West African (UEMOA). According to the results of the fourth injection of liquidity at a...

Inflation, in annual comparison, accelerated to 3.2% in December 2021 in Morocco after 2.6% in November, according to data updated by the central bank. This dynamic, she said, mainly reflects the 3.1% rise instead of a 0.9% drop in volatile food prices. “It is also attributable, although to a lesser extent, to the rise in...

Congo is considering the construction of a railway line to serve the north and the south in order to fcilitate the export of mining and hydrocarbon products. 1,000 km long, this railway linking the department of Sangha to that of Pointe-Noire, the ore port in the making, should require an investment of 10 billion dollars....

Abdelwahab Nougaoui joins the Wafa Assurance group as advisor to the CEO, according to an announcement made on Monday, January 24. This insurance veteran’s mission, specifies the same source, is to lead Wafa Assurance’s projects in reinsurance, such as the launch of a reinsurance activity and the development of capacities for placing large risks on...

The airline Air France has announced that it is suspending the Paris-Ouagadougou link. A decision that she says she took because of the situation in Burkina Faso, and in connection with the French authorities in the country. Thus, the Paris-Accra-Ouagadougou rotation stopped in Accra (Ghana). “The two flights scheduled for Monday are canceled”, specifies, for...

The Malian president of the transition, Assimi Goïta, announced this Wednesday January 19 to have exchanged with António Guterres, the boss of the United Nations Organization (UN). Main subject discussed, the political crisis in the country and its latest developments. “I had a long telephone conversation with the Secretary General of the United Nations, António...

Ivorian President Alassane Ouattara spoke out on the financial, economic and diplomatic sanctions decided by the Community of West African States (ECOWAS) against Mali, on the sidelines of a visit, Monday January 17, 2022 to Libreville, with his Gabonese counterpart Ali Bongo Ondimba. “We are very unfortunate to have imposed all these sanctions,” he said, recalling the context of these measures. “It is unacceptable for a military regime to remain in place for a five-year period (…). We have done everything to ensure that the military authorities of Mali organize elections in a timely manner, it is with our reluctance…

Tamer Adel Seif El-Din has been the Chief Executive Officer and Managing Director of the Arab Investment Bank (aiBANK) since the beginning of January 2022. His appointment comes after the group’s acquisition of 76% of the bank’s capital was finalized. financier EFG Hermes and the Sovereign Fund of Egypt, Egypt’s sovereign wealth fund. With more than 22 years of experience in the banking sector, Seif El-Din has served in several banks including National Société Générale Bank – sold in 2012 to Qatar National Bank –, Misr International Bank, Union National Bank and the Bank of Alexandria. As a reminder, the…

Côte d’Ivoire is working to give itself the means to succeed in the digital transformation of all its services. And it is to Digital Business Invest (DBI) that the Ministry in charge of the Promotion of SMEs, Handicrafts and the Transformation of the Informal Sector has decided to entrust the digitization of its sector of activity. Digital Business Invest (DBI) is a company based in Tallinn, Estonia. She specializes in the design of tailor-made digital economy models, alternative financing and management of innovative projects, driving the digital transformation of the public and private sectors. It is to this company that…

An aircraft belonging to Libyan warlord Khalifa Haftar landed in Israel on Thursday, a military correspondent for Israel’s public Kan news service said. Writing on Twitter, Itay Blumental said an “executive plane used by Libyan General Khalifa Haftar” landed in Israel after making a “diplomatic stopover in Cyprus.” “After two hours on the ground, the plane took off for Cyprus”, indicates for its part, a report from the Israeli airport authorities which did not give the identity of the occupants. Probably relatives of the Libyan marshal. Indeed, prior to the signing of a peace accord in October 2020, Khalifa Haftar’s…

French asset management company, Eiffel Investment Group, is seeking to raise $200 million in bridging loans to invest in accelerating electrification and energy transition in Africa. The European Investment Bank (EIB) intends to participate in the fund to the tune of 30 million dollars. The aim is to provide start-up capital before long-term investments for renewable energy projects, which could provide energy to two million consumers. The group is targeting a market that it estimates at 523 million euros per year and will do so by soliciting investments from public and private institutions. Eiffel Investment Group also plans to launch…

The growth of the world economy, which was around 6% before the outbreak of the health crisis linked to the coronavirus which led to the recession, should take time to pick up again and stabilize for the duration. The United Nations is counting on difficult prospects, especially since the pandemic has exacerbated poverty and inequalities. This slowdown is partly explained by the end of economic and fiscal stimulus plans and by severe disruptions due to supply chains. According to a study by the United Nations Department of Economic and Social Affairs, after a revival of activity punctuated by a growth…

During the launch of the Pan-African Payment and Settlement System (Papss), the pan-African payment and settlement system in Accra on January 13, the managing director of Smart Africa, Lacina Koné, announced that his institution and Afreximbank have recently signed a Memorandum of Understanding to support and advocate for the development of pro-Papss policies and regulations across the continent. During a moderated panel with the Governor of the Central Bank of Ghana, Dr Ernest Addison, the Governor of the Bank of Zambia, Dr Denny Kalyalya and the Managing Director of the West African Monetary Institute ( IMAO), Dr. Olorunsola Olowofeso, Lacina…

The president of the African Import-Export Bank (Afreximbank), Benedict Oramah, revealed this Thursday, January 13 in Accra (Ghana) that his institution intends to forge relations with at least 500 African banks by providing them with lines of nearly $ 8 billion to facilitate commercial transactions with the Papss (Pan-African Payment and Settlement System), the Pan-African Payment and Settlement System. “This will represent the largest banking relationship ever forged by a financial institution on the continent. Currently, the bank has integrated more than 480 banks ”, he noted at the official launch of the new instrument. Adding that the current payment…

In November 2021, Senegal’s industrial production excluding cotton ginning increased by 7.1% compared to the same period of 2020, according to data from the National Agency for Statistics and Demography (ANSD) based in Dakar. “This development is in relation to the performances noted in the environmental (+ 62.7%) and extractive (+ 51.8%) industries”, underlines the ANSD. Still according to this structure, the situation observed in the extractive industries is explained by the good performance of the production of metal ores (+ 66.3%) and other products of the extractive industries (+ 33.3%). Likewise, production in the first eleven months of 2021…

The French public airline Air France announced, on January 12, 2022, the cancellation of its flights to and from Bamako (Mali). Information confirmed by the Minister of Transport and Infrastructure of Mali, Dembélé Madina Sissoko. “The Ministry of Transport and Infrastructures informs national and international opinion that the airline company Air France has decided, according to the information notified to the airport authorities of Mali by its representative in Bamako, to suspend all its flights to destination and leaving Bamako until further notice ”, we can read in a press release from the supervisory department. According to the document dated…

Morocco’s Minister of Economy and Finance Nadia Fettah Alaoui (photo) said on January 10, 2022 that her country intends to regulate the use of virtual currencies through new legislation. Specifying that his department is also examining the possibility of setting up a 100% Moroccan cryptocurrency, developed and guaranteed by Bank-Al-Maghrib, the central bank. These announcements, made during a plenary session of oral questions in the House of Representatives, come in a context where cryptocurrencies are prohibited in financial transactions by Moroccan law. They are, however, increasingly popular in the country which ranks 24th in the 2021 ranking of the Global…

Operations in the treasury securities market of the Economic and Monetary Community of Central Africa (CEMAC) will be particularly animated from January 10 to 14, 2022 through issues of Assimilable Treasury Bonds (BTA) where Cameroon, Congo and Gabon globally intend to mobilize CFAF 175 billion ($ 302 million) on the market of the Bank of Central African States (BEAC). In detail, Cameroon, through the Domestic Syndication Issue (ESD), plans to mobilize 150 billion FCFA ($ 259 million) from BTA. With a maturity of 26 weeks for an interest rate of 2.75%, this operation, the minimum share of which is FCFA…

Growth estimates for the year 2021 indicate an increase in the economic activity of the West African Economic and Monetary Union (UEMOA) of 6.1% against 1.8% in 2020, according to data from the Department of Economic Policies and the internal taxation (DPEFI) of the UEMOA Commission based in Ouagadougou in Burkina Faso. “The negative effects of the health crisis on the economies of the Member States of the Union have clearly diminished”, indicates the DPEFI. Still according to this structure, the growth rate by Member State is quite disparate: + 7.0% for Benin, + 7.1% for Burkina Faso, + 6.5%…

French President Emmanuel Macron declared on Tuesday January 11 that his country and the European Union support the “unprecedented sanctions” taken last weekend in Accra (Ghana) by the heads of state of the Economic Community of the States of West Africa (ECOWAS) and the West African Economic and Monetary Union (Uemoa) against Mali. “We support” these diplomatic and economic measures, he told the Élysée Palace during a press conference with European Council President Charles Michel. These sanctions are, among others, the closure of land and air borders between Mali and the other ECOWAS member states, the recall of ambassadors in…