Author: Albert Savana

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…

October 25, 2021 marks a decisive step for Nigeria in the popularization of electronic payments with the launch of e-naira, the digital version of its currency. An important phase for the promotion of financial and banking inclusion with multiple challenges, among others, the facilitation of transfers abroad, the support for the local currency which faces a constant depreciation, but also and perhaps more fight the growing influence of cryptocurrencies like bitcoin, whose control remains difficult. Beyond a monetary and financial innovation, the launching ceremony of the virtual currency under the auspices of the President of the Republic, Muhammadu Buhari, explained…

In August 2021, Senegal’s exports increased by 4.8% compared to the previous month, according to data from the National Agency for Statistics and Demography (ANSD) based in Dakar. These exports amounted to 235.5 billion FCFA against 224.8 billion FCFA in July 2021, an increase of 10.7 billion FCFA. “This increase is mainly explained by that of shipments of petroleum products (+ 92.6%), crustaceans, molluscs and shellfish (+ 33.4%) and non-monetary gold (+ 1.0%)” , advances the ANSD. However, it should be noted that the decline in exports of phosphoric acid (-38.3%) and fresh marine fish (-28.8%) reduced this upward trend.…

The Union of Workers of Banks, Insurance, Financial Institutions, Microfinance and Commerce of Mali (SYNABEF) has decided to observe a 72-hour strike from Wednesday, October 27. This, for a period of 72 hours, as well as the National Federation of Petroleum, Trade, Insurance and Banks of Mali (FENPECAB). The strikers are demanding, in fact, the regularization of temporary workers, the resignation of Brehima Amadou Haidara, general administrator of Banque Développement du Mali (DBM sa) for having “improperly dismissed Ms. Kané”, and an outcome to a case of “forced dismissal. »Of 70 Ecobank monies for economic reasons in the context of…

For the Saudi authorities, Gabon’s presence at this Forum was “quite natural”. “Gabon is one of the most advanced countries in the world in the fight against global warming. In addition, President Ali Bongo Ondimba is a close friend of the King “, we recall in the entourage of the Crown Prince. This is quite a symbol, because it was in this holy city of Riyadh that President Ali Bongo had a serious stroke that had kept him away from major international meetings. Engaged in environmental issues, Gabonese President Ali Bongo has chosen the capital of the Kingdom of Saudi…

An important decision taken on the sidelines of the Board of Directors of the Central African Securities Exchange (BVMAC) meeting in ordinary session on October 25, 2021 in semi-face-to-face mode in Libreville, Gabon, under the chairmanship of Mr. Henri- Claude OYIMA, its statutory President. Thus, after examining the report of the Appointments and Remuneration Committee and hearing the two selected candidates, the board of directors decided to appoint Louis BANGA-NTOLO as Chief Executive Officer of BVMAC for a term of four years from January 1, 2022. Former Managing Director of Societe Generale Capital Securities Central Africa, the new CEO is…

By Albert Savana. This is the first major incident between Aziz Akhannouch’s government and the business community. Faced with an avalanche of cancellations of stays by foreign tourists following the authorities’ decision to suspend flights to and from Germany, the United Kingdom and the Netherlands, the National Tourism Confederation has issued a virulent press release...

The Board of Directors of the Extractive Industries Transparency Initiative (EITI) approved Gabon’s new candidacy on October 21, 2021. The Central African oil and manganese producer thus becomes the organization’s 56th member country, and the 27th in Africa, after its withdrawal from the process in February 2013. “The EITI can help lay the groundwork for transparent management of Gabon’s natural resource wealth,” said Helen Clark, the EITI’s board chair, quoted in a statement. “We are happy to welcome it again as an implementing country of the EITI, and we look forward to working together to promote openness, strengthen governance and…

The United States announced, Monday, October 25, the suspension of financial assistance of 700 million dollars to the Sudanese transition, victim of a coup d’etat orchestrated the same day by the military. “We are suspending that entire amount,” said US diplomacy spokesman Ned Price. This decision, he added, does not concern humanitarian aid. The country, which rose on Monday morning with the arrest of Prime Minister Abdallah Hamdok, several of his ministers and civilian members of the Council overseeing the transition, has been going through a transition since 2019 after the fall of former President Omar al-Bashir, overthrown after months…

The Noépé-Akanu juxtaposed checkpoint (PCJ), located 30 km east of Lomé (Togo) on the border with Ghana, will be operational from next November, the Togolese authorities announced. This, seven years after its official inauguration. “As part of the effective operationalization of the Noépé-Akanu Juxtaposed Control Post (PCJ) and the redefinition of the Abidjan-Lagos corridor, the Commissioner General of the Togolese Revenue Office (OTR) brings operators to the attention of economic that from November 1, 2021, customs clearance operations for goods in transit, from or from Ghana to Togo or other countries are imperatively housed at the juxtaposed checkpoint of Noépé-Akanu…

Electronic payments and transactions, over the past five years, have remained on an evolving curve in the countries of the Central African Economic and Monetary Community (CEMAC). In its report on electronic money payment services for the year 2020 that Financial Afrik was able to consult, the Bank of Central African States (BEAC) reports on growing activity both on the volume of payments , than on the number of electronic transactions. After the organization of this activity in 2016, it appears that the number of transactions increased from 977 million to 1102 million in 2020, recording a transaction value during…

In the Democratic Republic of the Congo (DRC), the appointment of a president at the head of the Independent National Electoral Commission (CENI), and of a team confirmed on October 22, 2021 by President Félix Tshisekedi, has enough to unite his opponents, – and even an ally – against him. Denis Kadima. This is the name announced on the evening of October 22 by President Félix Tshisekedi via an ordinance published after a televised message to the Nation, thus confirming the choice made a few days earlier by the National Assembly despite divergent opinions, including those of the Catholic Church…

Telluric anger of Recep Tayyip Erdogan. The Turkish president announced on Saturday that he had ordered the expulsion “as soon as possible” of ten ambassadors, including those from France, Germany and the United States. Ankara blames diplomats for calling for the release of opponent Osman Kavala. The Turkish businessman and patron has been jailed for four years without trial, accused of wanting to destabilize the country. The ambassadors in question called on October 18 for a “fair and speedy settlement of the case” Osman Kavala. For what qualifies as interference, the ambassadors of ten countries – Canada, France, Finland, Denmark,…

The future of the Congo Basin will be at the center of discussions at the Conference of the Parties (COP) from October 31 to November 12, 2021, in Glasgow, Scotland through the initiative to reduce greenhouse gas emissions (GHG ). In this perspective, the Congo Basin countries recently published a plea for scientific research on climate issues to be supported in Central Africa. An initiative requiring the mobilization of more than $ 150 million over the next ten years including a research program of $ 100 million and a fund of $ 50 million intended for the training of experts.…

The current events in Sudan do not leave the international community indifferent. Shortly after the arrests on Monday morning, the US, the European Union and the Arab League expressed concern over the attempted military coup. “We are following with great concern the events unfolding in Sudan. The European Union calls on all stakeholders and regional partners to get the transition process back on track, ”said Josep Borrell, the European Union’s High Representative for Foreign Affairs and Security Policy, in a post on Twitter. Shortly before this statement, the United States, through the American envoy for the Horn of Africa, Jeffrey…

Originally scheduled for October 1, the launch of the e-Naira, the electronic version of the Nigerian currency, is scheduled for Monday 25. It was postponed due to the celebrations marking the 61st anniversary of the country’s accession to the country. independence, according to official sources. “President Muhammadu Buhari is to officially unveil the Central Bank of Nigeria’s digital currency known as eNaira on Monday, October 25 at the Presidential Palace,” said a statement from the issuing institute. This electronic money “must be activated” the same day, specifies the same source. The project is being implemented with Barbados-based company Bitt Inc,…

Several Sudanese leaders were arrested early Monday, October 25, by unidentified gunmen. “The civilian members of the Sovereignty Council (…) and most of the ministers (…) were taken to an unknown destination,” said a statement posted on Facebook by the Ministry of Information. The latter implicates “soldiers”. As for Prime Minister Abdallah Hamdok, he is announced under house arrest by unofficial sources. Information later confirmed by the Information Ministry, which cites him among the personalities under arrest. For its part, the Alliance for Freedom and Change, spearheading the protests that led to the fall of former President Omar El Bashir,…

Driven economically by its mining sector which represents 90% of its exports, and which almost caused a major global aluminum crisis, against the backdrop of the uncertainty linked to the putsch of September 5, 2021, Guinea figures, despite the Covid-19 pandemic, in the top 5 of African countries with the most resilient economies, posting a growth rate of its GDP of 5.2% in 2021. However, the perverse effects of a galloping inflation of its currency, the Guinean franc (GNF), continue to weaken the purchasing power of populations. Around 9.8% in 2018 before registering a slight decrease in 2019 to 9.5%…

The price of Digital World Acquisition Corp (DWAC), the company that carries Donald Trump’s social network, soared on Friday morning and ended up 107.03% to $ 94.20. The price of the flying saucer had taken off about 200% earlier today after already climbing more than 350% on Thursday at close. Long before the actual launch of his social network, “Truth Social”, Donald Trump seems to have won his bet. His SPAC to speak of these acquisition companies, also referred to as the “empty shell”, is valued at $ 3.2 billion. An impressive amount for a recent company, until then confidential…

The net profit of the company Nestlé Côte d’Ivoire, a subsidiary of the Nestlé group and specializing in the manufacture of food products, increased by 3.736 billion FCFA (5.604 million euros) in the third quarter of 2021 compared to the same period of the year 2020, the leaders of this Abidjan-based company announced. This result rose from 14.610 billion FCFA on September 30, 2020 to 18.346 billion FCFA a year later, an increase of 25.6%. According to company officials, the result in question is marked by a marked improvement in operating profit without the positive impact observed last year with…

Malian Minister of Foreign Affairs and International Cooperation Abdoulaye Diop has announced that a United Nations Security Council delegation will pay an official visit to Bamako on Saturday 23 and Sunday 24 October 2021. In his press release published on Thursday 21, the head of Malian diplomacy specified that the main objective of this UN mission is “to assess the political, security, humanitarian, human rights, development, and calendar situation. of the transition as well as the state of implementation of the priority measures of the Agreement for Peace and Reconciliation resulting from the Algiers process by the signatory parties ”.…

According to its financial results for the third quarter of 2021, Amen Bank recorded a net banking income (NBI) up 19% to stand at 340.3 million dinars (120 million USD) at the end of September 2021, against 286.1 million (102 million USD) in the same period of the previous year. Customer loans, net of provisions and reserved agios, increased from 5,859 million dinars (2 billion USD) at the end of September 2020 to 6,068.2 million dinars (2.1 billion USD) at the end of September 2021, an increase of 3.6%. For its part, customer deposits and assets stood at the end…

The largest African IPO, on the New York Stock Exchange, has lived. Introduced on October 14 through the sale of 18 million shares, in addition to an extra 4.5 million shares offered by shareholders, at a unit price of $ 21, IHS Holding was valued at approximately $ 7 billion. The IPO raised $ 378...

The Board of Directors of the ECOWAS Investment and Development Bank (EBID), appointed Olagunju MO Ashimolowo to the post of vice-president in charge of the institution’s operations, at the end of his 75th session held on October 1, 2021. Mr. Ashimolowo, PhD, brings to the bank his experience which will help to further strengthen and consolidate its operations and its governance framework. Prior to his appointment, he held the position of Director of the Internal Audit and Operations Evaluation Department for more than four (4) years within the institution based in Lomé (Togo). He previously served as an auditor with…

Africa REN, a pioneer of renewable energies in Africa, announces that it has launched the construction of the Kodeni Solar solar power plant, near Bobo-Dioulasso, in Burkina Faso. With an installed capacity of 38MW, Kodeni Solar will be the largest solar power plant in the country as well as the first public-private partnership to reach financial closing. The commissioning of the plant is scheduled for August 2022. Kodeni Solar has signed a 25-year Power Purchase Agreement (PPA) with SONABEL, the Burkina Faso power company, as part of a public-private partnership with the government. The construction was entrusted to the French…

The Malian government denied, through a statement released Thursday evening on the Mali Radio and Television Office (ORTM), the state channel, to have “mandated anyone to dialogue with terrorist groups linked to Al-Qaeda” , led by Iyad Ag Ghaly and Amadou Koufa. Earlier this week, several sources including the Ministry of Religious Affairs and the High Islamic Council (HCI) had yet confirmed this mission of good offices. “Neither the High Islamic Council, nor any other body has been mandated,” Bamako insists. He added that the government will take note that “goodwill has been shown to conduct negotiations”. Furthermore, it should…

Bloomfield Investment Corporation has confirmed the long-term rating “A + with a positive outlook” awarded in 2020 to Bank Of Africa (BOA) Benin, a member of the banking group of the same name, announced the executives of this rating agency based in Abidjan. Bloomfield also confirmed the short term rating which was “A1 with a stable outlook”. The rating is valid from May 2021 to April 2022. The rationale for the rating and its long-term outlook is based on “high credit quality”. In addition, the agency notes that the protective factors are good. However, she tempers, the risk factors are…

Nigeria’s gross domestic product (GDP) grew 5.01 percent year-on-year in the second quarter of 2021, according to a new report released by the National Bureau of Statistics (NBS). This is the third consecutive quarterly increase in growth after the negative rates recorded in the second and third quarters of 2020. This recovery, it is said, is explained by the gradual return of commercial activity as well as local and international travel. The second and third quarters of 2020 being marked by the restrictions imposed in the country to fight against the spread of the coronavirus (Covid-19). This increase in growth…

Visa announces the appointment, on August 26, 2021, of Ms. Leila Serhan as Group Country Manager and Senior Vice President. Ms. Serhan will be responsible for leading Visa operations in the North Africa, Levant and Pakistan (NALP) region. With over two decades of experience in various leadership roles (including 20 years with Microsoft) to her credit, Ms. Serhan most recently led Microsoft’s operations in the Gulf region. She previously served as Microsoft’s Managing Director for North Africa, Eastern Mediterranean and Pakistan. She had also held several positions in areas related to national management, finance and marketing, in addition to overseeing…