Author: Albert Savana

The coming months will be decisive for the Cameroonian economy, whose throes of the difficult economic situation on an international scale cast serious doubts on the competitiveness, even the survival of the production tool. The Groupement inter patronal du Cameroun (GICAM) in an alert on November 9, 2021 integrating the negative impact of the health crisis linked to the coronavirus, is particularly worried about the exponential increase in the costs of supplying raw materials and the explosion of sea ​​freight with increases varying between 20 and 400%. In view of this situation, which could explode if the authorities fail to…

After contracting by -0.6% in 2019 and -8.2% in 2020, Congo’s real GDP will once again fall into negative territory (-0.2%) in 2021, according to revised data from the International Monetary Fund (IMF), which expects growth of 2.4% in 2022. “This recovery should be stimulated by the rise in oil prices, the rebound in Congo’s oil production, the deployment of vaccines, social spending, the repayment of domestic arrears and the expansion of agriculture, mining and services. However, the outlook is surrounded by significant uncertainty with risks of new waves of pandemic and volatility in oil prices, ”said the institution in…

Oragroup is preparing an issue of new bonds for a maximum amount of CFAF 20 billion by private placement with a limited number of qualified investors. The project will be submitted to shareholders on November 22 in Lomé (Togo), during an ordinary general meeting of the bank based in the Togolese capital. According to the announcement viewed by Financial Afrik, the operation is for a period of 7 years, with an interest rate of 7.15% gross per year. The bank opts for half-yearly amortization with a 2-year franchise with regard to the repayment profile. Present in 12 countries of West…

Officials from the Turkish company NZP, which specializes in refining gold and other metals, have expressed a desire to set up a refinery plant in the Democratic Republic of the Congo, saying “start first in Kinshasa”. “We have come to respond to the call of the President of the Republic, Félix Tshisekedi Tshilombo, to create a refinery company that can allow the refining of Congolese minerals”, unveiled to the press the delegate of the Turkish company, Murat Niziplioglu, in leave a working session with the Minister of Industry, Julien Paluku Kahongya, on November 8, 2021 in Kinshasa. A country with…

Alstom’s board of directors announced on November 8, 2021, the signing of an agreement worth 876 million euros for the modernization of the Cairo metro in Egypt. Under the terms of the contract, the Metropolis metro will be designed and manufactured in France, at the Alstom site in Valenciennes Petite-Forêt. In addition, the other French sites concerned are Le Creusot, for bogies and engine integration, Villeurbanne, for passenger information systems, and Toulouse, for electrical engineering. According to Bruno Le Maire, the French Minister of Economy and Finance, the contract provides for the supply by Alstom of 55 trains of 9…

By Daniel Djagoué, Special Envoy in Dubai Comoros was in the spotlight on November 8, 2021 at the Dubai World Expo launched on October 1. An opportunity for the country to present its strengths in terms of investment. A little over a month after the opening of the Universal Exhibition held in Dubai, the Union of the Comoros, an archipelago located off the east coast of Africa, was in the spotlight on Monday with a delegation led by its president, Assoumani Azali. “The Comorian pavilion registers a weekly entry of more than 12,000 visitors, which is quite an achievement for…

A summit of heads of state and government of the Economic Community of Central African States (ECCAS) could be held by next December, we learn from this regional institution in order to rule on the political situation, economic and security situation in the region, with the socio-political crisis in the Central African Republic at the center of the debate. Beyond bombastic diplomatic language, relations between the Central African Republic and Chad are far from being in good shape. Reports have been strained for several years, but revived in recent weeks since the former Central African head of state François Bozizé…

The net income of NSIA Banque Côte d’Ivoire, a member of the financial group of the same name, increased by 203.23% in the third quarter of 2021 compared to the same period of 2020, announced the leaders of this banking establishment based in Abidjan. This result rose from 4.855 billion FCFA as of September 30, 2020 to 14.722 billion FCFA as of September 30, 2021, i.e. an increase of 9.868 billion FCFA in absolute value. During the period under review, the total balance sheet of NSIA Banque Côte d’Ivoire changed by 14%, standing at 1524.253 billion FCFA against 1333.358 billion…

This Sunday, November 7, in Accra (Ghana), an extraordinary ECOWAS summit was held on the evolution of political situations in Guinea and Mali. At the end of the work, the conference of heads of state decided to tighten individual sanctions against the Malian transitional authorities and subsequently set resolutions. There were long discussions on Mali in Accra, according to Jean-Claude Kassi Brou, the president of the ECOWAS Commission. Two observations were made. First, the security situation has deteriorated. And we must help Mali on this point, he said. Second, regarding the electoral process, the Malian government formally informed the regional…

Meeting this Sunday, November 7 in Accra (Ghana) in an extraordinary session on the political situations in Mali and Guinea, the conference of heads of state of ECOWAS, concerning Guinea, maintained the sanctions against the country and called the immediate release of the deposed president, Alpha Condé. The current president of the conference of heads of state, Nana Akufo Addo and his peers want more clarity in the conduct of the Guinean transition. Despite the adoption of a transition charter and the establishment of a government headed by the Prime Minister, Mohamed Béavogui, by quickly submitting a detailed timetable of…

The result of ordinary activities of the company TotalEnergies Marketing Senegal, a subsidiary of the multinational of the same name, experienced a contraction of 618 million FCFA (927,000 euros) at the end of the third quarter of 2021 compared to the same period of 2020. This result amounted to 6.330 billion FCFA against 6.948 billion...

The State of Burkina Faso, through its General Directorate of the Treasury and Public Accounts, raised on November 3, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 32.719 billion FCFA (49.078 million euros) at the end of its issuance of 3-year and 5-year Treasury stimulus bonds (ORD) organized in partnership with UMOA-Titres based in Dakar. Launched by UMOA-Titres in collaboration with the Central Bank of West African States (BCEAO), the issuance of ODRs aims to allow the issuer to mobilize the savings of individuals and legal entities in order to ” ensure the…

Opportunity International and Oikocredit announced on November 2, 2021, a $ 100 million impact investment agreement to advance education in low-income countries. In a joint statement, the two organizations explain that these funds will be spread over the next three years with an initial short-term focus on Senegal, Ghana, Nigeria, Kenya and Uganda. Under the terms of the agreement, Opportunity International and Oikocredit will target financial institutions serving the needs of the most vulnerable populations, providing financial capital and training to support education sector development in target markets. In addition, this collaboration should make it possible to obtain essential resources,…

Gold exports generated 5,649.3 billion FCFA to the countries of the West African Economic and Monetary Union (WAEMU) in 2020, an increase of 31.1% compared to 2019. Figures contained in the Report annual report of the Central Bank of West African States on the region’s foreign trade. This change, which began in 2013, is mainly due to the increase in international prices for this product of 24.5%, combined with an increase in volumes shipped, due to the dynamism of gold activities, particularly in Burkina Faso, Côte d’Ivoire and in Mali, informs the central bank. Apart from these three countries, gold…

One year after the start of operations to restore security in Tigray and when a UN report evoking “large-scale massacres” but hesitating on the use of the qualifier “genocide”, the war in Ethiopia is experiencing a kind of acceleration. The rebels of the Tigray People’s Liberation Front (TPLF) supported by the Oromo Liberation Army (OLA)...

Approved on December 16, 2019 by the Central Bank of West African States (BCEAO), the Togolese branch of the Development Bank of Mali (BDM-SA) opens its counters this Thursday, November 4 in Lomé, according to a management press release. Togo is the bank’s sixth market after Mali, Guinea Bissau, Cote d’Ivoire, Burkina Faso and Senegal (where it obtained approval in December 2019 for the opening of a branch). BDM-Togo also becomes the 14th bank operating in Lomé. Beyond Senegal and Togo, BDM intends, in the short term, to complete coverage of the entire UEMOA economic zone with establishments in Benin…

The Central African Financial Market Surveillance Commission (Cosumaf) is stepping up initiatives aimed at strengthening the regulatory framework and cleaning up stock market activity and fundraising through public offering in the sub-region . After the decision to ban unauthorized cryptocurrency companies from activity while it consolidates the process regulating this activity, the regulator of the stock market in Central Africa has just knocked its fist on the table. During its ordinary session on October 15, 2021, dealing in particular with the examination of applications for authorization to exercise intermediation activities on the regional market, the Cosumaf college decided to “reject…

Niger’s real GDP growth is expected to rebound to 5.6% in 2021 as the economy recovers from the Covid-19 pandemic. This is forecast by the International Monetary Fund (IMF), which notes that the economic outlook for the current year “remains favorable”, as well as for the medium term. According to the institution, growth is expected to accelerate in 2022 and reach double-digit levels in 2023, boosted by the operationalization of the new pipeline to Benin. The external current account is expected to deteriorate in the short term due to the implementation of large-scale projects with a high content of imported…

The achievement of the common market through the free movement of people and goods remains a concern for the Economic and Monetary Community of Central Africa (CEMAC) considered to be the least integrated part of the continent due to insufficient means of communication and procrastination of States. Compliance with Community Treaties is one of the challenges of the 13th ordinary session of the Standing Commission for Tax and Accounting Harmonization (CPHFC) from November 2 to 4, 2021 in Douala, the objective of which is to strengthen regional integration. These events take place in a difficult context marked by an economic…

After a rate of 3.5% in July and August 2021, the inflation rate in the WAEMU stood at 4.3% at the end of September 2021, according to data from the Central Bank of African States of the west (BCEAO). This is his highest level in over 3 years. According to the institution, the acceleration in the pace of price growth is mainly driven by the “Food” component, whose contribution to headline inflation increased by 0.8 percentage point compared to the previous month. The increase in the “Food” component, which contributes 3.4 percentage points to total inflation, is linked to the…

Guinea: Lanciné Condé, new Minister of Economy and Finance The name of the new Minister of the Economy, Finance and Planning, of the Guinean transition that began on September 5, was unveiled on the night of Friday October 29 to Saturday October 30. This is Lanciné Condé, special advisor to GIZ, the German development agency. The roadmap of the new treasurer will be unveiled at the beginning of the week by the junta, thanks to his official assumption of office. He replaces Mamadi Camara of the ousted Alpha Condé regime in this post. Moussa Cissé, former legal adviser to the…

French President Emmanuel Macron is organizing this Saturday, October 30, an informal meeting between heads of state and European organizations and heads of state and African organizations, at the Palazzo Farnese in Rome, on the sidelines of the G20 summit. The objective of this meeting will be to prepare the EU-Africa Summit which will take place under the French Presidency of the Council of the European Union, in the first half of 2022. The French President indeed hopes that the formation of a new partnership between the two continents, based on the basis of reciprocity, will be a priority for…

A few years ago, Mark Zuckerberg promised to change the name of the parent company of Facebook, of which he is the founder and CEO. The announcement of the change, made on October 28, 2021 after 17 years in business, responds to the group’s ambition to expand Facebook’s reach, and is made in response to accusations against the brand. “The past five years have been a lesson in humility for me and our company in many ways. One of the main lessons I’ve learned is that it’s not enough to make products that people love, ”said Mark Zuckerberg, CEO of…

“Crises and Business Resilience in Africa”. This is the theme of the 9th edition of “CGECI Academy”, the economic forum of Ivorian employers which opened on October 28, 2021 in Abidjan. An opportunity for Côte d’Ivoire to present the strengthening of the public-private partnership as a driver of the resilience of the Ivorian private sector in the face of economic crises such as that of the Covid-19. A GDP of around 400,000 billion CFA francs; a growth rate of 2% instead of the expected 7.2%; an inflation rate that rose to 2.4%; a budget deficit estimated at 5.6%; 500 billion…

In Israel, where he has been staying since October 25, 2021, Felix Tshisekedi spoke, Thursday 28 in Jerusalem, with Prime Minister Naftali Bennett on bilateral cooperation between their two countries. The day before, Wednesday, the Congolese president, who met face-to-face with his Israeli counterpart Isaac Hertzog, told reporters that his visit to Israel is part of strengthening the partnership between the two countries in diverse fields. Insofar as, he stressed, “Israel has achieved performances which constitute a model”. the Congolese head of state insisted on the areas that will count for initiating reconciliations, in particular, infrastructure, security, the environment, agriculture…

Patrimoine Africa, a structure based in Abidjan, announced the launch of a bond loan for an internal fund relating to poultry production called “Fipra-PA 2021”, with the promise of a significant return on investment. “This loan was launched without authorization, in violation of the instruction relating to the public offering for savings within the West African Monetary Union (Uemoa) and the government measure prohibiting illegal financial investments. », Indicates the National Treasury in a press release published this Thursday, October 28. Launched through social networks, this loan aimed to reach a value of 100 million CFA francs with a nominal…

The Société de Limonaderie et brasseries d’Afrique (SOLIBRA) posted an after-tax profit of 15.607 billion FCFA (23.411 million euros) at the end of the first half of 2021, announced the directors of this Abidjan-based company. Compared to the same period of 2020, when it stood at 7.771 billion FCFA, this profit increased 100.8%. The company’s...

An alleged scandal that splashes a big figure in arbitration in Paris. And already resignations. Will the interminable dispute between the Congolese State and the construction company Commisimpex of Mohsen Hojeij since the 1990s have a real twist? While two irrevocable sentences of December 3, 2000 and January 21, 2013 have ruled the dispute between...

Driven by the momentum of its African subsidiaries and despite a decline in its land, the Moroccan incumbent now has an impressive customer portfolio of 73 million mobile subscribers, up 3.3%. At the end of September, consolidated sales amounted to nearly 2.6 billion euros. With an EBITDA margin of 51.6%, the group has one of...

On October 27, 2021, the Togolese government announced that it had adopted a preliminary draft amending finance law, fiscal year 2021, projected at CFAF 1,702.7 billion in revenue and expenditure, against CFAF 1,521.5 billion in the law of initial finances. This represents an increase of 11.9%. According to a press release from the Council of Ministers held today, Lomé intends, through this draft amending finance law, “to continue the efforts already undertaken to deal with the fight and the impact of Covid-19 while continuing the efficient implementation of the various projects of the government roadmap ”. This, in a context…