Author: Albert Savana

The State of Mali, through the National Directorate of the Treasury and Public Accounts, raised on August 4, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 50 billion FCFA (75 million d ‘euros) at the end of its issuance of treasury stimulus bonds (ODR) with maturities of 3 and 10 years. ODR issues are initiated by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO). They aim to enable the issuer to mobilize the savings of natural and legal persons in order to cover the financing needs of…

The turnover of the company Tractafric Motors Côte d’Ivoire (TMC), specializing in the sale of motor vehicles, increased by 901.416 million FCFA (1.352 million euros) in the first quarter of 2021 compared to the same period of 2020, the leaders of this Abidjan-based company announced. This turnover stood at 14.827 billion FCFA against 13.926 billion FCFA as of March 31, 2020. “The market share for the first quarter of 2021 amounts to 14% with 613 new vehicles delivered against 586 vehicles delivered to first quarter of 2020, an increase of 5% ”, underline the leaders of TMC. They add that…

In Mali, Firefinch chief executive Michael Anderson said operations at the Morila gold mine, located in the south-east of the country, generated positive income of $ 3.4 million in the second quarter of 2021, according to the recently announced quarterly activity report with Stockhead, an agency that publishes information on emerging companies listed on ASX. In a memo released on July 30, 2021, the Australian company’s chief executive explained that Firefinch is going full steam ahead in its attempt to revive the Morila gold mine. “Site operations generated positive revenue of $ 3.4 million. Open pit volumes were also encouraging…

It is the largest demographic transition ever experienced in human history. Sub-Saharan Africa’s (SSA) working-age population will grow by more than 200% by 2050, providing a significant opportunity for economic growth in the region, economists from S&P Global Ratings said in a report released today. ‘hui. “The countries of sub-Saharan Africa are undergoing the most significant demographic transition in their history. Unprecedented declines in fertility rates, a drop in infant mortality and an increase in life expectancy will be of crucial importance for the region’s economic prospects for decades to come, ”said Valerijs Rezvijs, economist by S&P Global Ratings. “The…

The Board of Governors of the International Monetary Fund (IMF) on August 2, 2021 approved a general allocation of special drawing rights (SDRs) of $ 650 billion to increase liquidity around the world. “This is a historic decision: the largest allocation of SDRs in IMF history and a breath of fresh air for the world economy in this time of unprecedented crisis. This SDR allocation will benefit all member countries, meet the global need for long-term reserves, boost confidence and strengthen the resilience and stability of the global economy. It will especially help our most vulnerable member countries as they…

Niger wants to show its agricultural assets to investors through a digital portal called “Duddal”. The result of cooperation with Germany, this newly launched platform involves the Ministry of Agriculture and Livestock, the Promotion Agency of the Agricultural Council (Apca), the National Agency for the Information Society ( Ansi) and the Niger Chamber of Agriculture Network (Reca). For the Director General of Ansi, Ibrahima Guimba Saidou, Duddal is part of the Niger 2.0 strategy and aims to “modernize the rural world by providing it with the tools and means to enhance agricultural production in order to improve the living environment…

Since leaving the White House last January, Donald Trump has watched his fortune plummet like snow in the sun. Estimated at $ 3.7 billion in 2017, the wealth of the former White House tenant would be worth only $ 2.4 billion in April 2021 according to estimates by Forbes magazine. The Bloomberg Billionaires Index, which estimates Trump’s net worth at around $ 2.33 billion, says his net worth fell by about $ 700 million in his last year as president. And to make matters worse, the former US president, in debt, abandoned by some of his bankers, has just been…

The State of Côte d’Ivoire, through its General Directorate of the Treasury and Public Accounts, raised on August 3, 2021 an amount of 56.307 billion FCFA (84.460 million euros) on the financial market of the Union West African monetary (UMOA) at the end of its simultaneous issue by auction of assimilable treasury bonds (BAT) with a maturity of 91 days and 364 days. These resources are intended to cover the financing needs of the Ivorian state budget. For the third quarter of 2021, the intentions of issuing government securities by auction expressed by the Ivorian authorities amount to CFAF 355…

The net banking income (NBI) of the BH Bank of Tunisia recorded an increase of 22.43% in the 2nd quarter of 2021 compared to the same period of 2020. The activity indicators of this banking establishment highlight a NBI of 269.978 million dinars against 220.502 million dinars in the second quarter of 2020. BH Bank saw its banking income fall by 31.056 million dinars with an achievement that fell from 548.088 million dinars on June 30, 2020 to 517.032 million dinars a year later. This underperformance is caused by the decrease of 51.106 million dinars in interest to 392.823 million…

The private company GED Africa / RDC has, on Friday July 31, agreed to finance, with nearly 253 million USD, the construction of the Kasomeno-Kasenga-Tchalwe road (270 km) which will leave the Democratic Republic of Congo. as far as Zambia, after two days of discussions with the Congolese Large Works Agency (ACGT) through the Ministry of Infrastructure. The road will start from Luapula province in Zambia to Haut-Katanga in DRC, with a toll booth and a bridge that will be thrown over the Luapula River. According to experts, this is one of the largest public-private partnership projects ever implemented in…

Jobs in the West African Monetary Union (WAMU) banking system stood at CFAF 41,460.7 billion (€ 62.191 billion) in 2020, according to the report by the Abidjan-based Banking Commission. These jobs increased by 14.9% over the year against 10.4% in 2019. “Their structure remains dominated by customer loans (60.3%) and investment securities (25.9%) », Inform the Banking Commission. As for the shares of financial fixed assets, other fixed assets and various uses; they are respectively 0.6%, 10.4% and 2.9%. Customer loans, net of provisions, increased by 8.3% year-on-year, reaching CFAF 24,981.1 billion at the end of 2020. They are made…

Rwandan President Paul Kagame has just entrusted Yolande Makolo, a woman from the seraglio, with the task of carrying the official word of the government. Born to a Congolese father of the Luba ethnic group from Kassai (DRC) and a Rwandan mother, Yolande Makolo, sister of Yvone Makolo, patron of the Rwandair Airline, is one of the influential women who rose through the ranks within the establishment Rwandan. It was during the last Council of Ministers of July 30, chaired by President Paul Kagame, that the latter carried out a government reshuffle by appointing Yolande Makolo as the new government…

France and Equatorial Guinea avoided a diplomatic crisis the unexpected outcome of which surprised many observers who expected more of a stalemate especially since it concerns security issues that have given rise to divergent interpretations on both sides. else. The “unauthorized” landing of a French army helicopter on July 27 in the city of Bata rekindled tensions between the two countries, especially since this “incident” occurred the day after the conviction in France in the case of “ill-gotten gains”, of the vice-president of the Republic of Equatorial Guinea Teodoro Obiang Mangue, also son of the head of state Teodoro Obiang…

Hatif Libya, a subsidiary of the Libyan Telecommunication Holding Company (LPTIC), signed an agreement with the American company Infinera to improve the fiber optic network in Libya. The convention was initialed on July 26, 2021 in a ceremony marked by the presence of Libyan Prime Minister Abdul-Hamed Dbeibah and many other personalities. The multi-million dollar project will allow people living in the most remote areas to access the internet and other mobile services. The fiber-optic company said the project relies on universal switching and transport capabilities. This will allow the national network to dynamically switch traffic over various paths to…

Emrald Securities Services Bourse (ESS BOURSE), announces the ceremony of the first quotations of the securities “EOCG 6.25% NET 2021-2026” and “EOG 6% NET 2021-2026” at the headquarters of the CEMAC Securities Exchange ( BVMAC) on Friday July 30, 2021 in Douala. These first listings follow the Bond issues by public offering of the Republic of Congo and the Gabonese state. The structuring and centralization of these two transactions were carried out by Emrald Securities Services Bourse (ESS Bourse) in its capacity as arranger and leader accompanied by its partners CBC Bourse, Afriland Bourse & Investissement, BICIG, the LCB group…

From 205.38 billion FCFA in 2019, the total balance sheet of Coris Bank Togo rose to 309.92 billion in 2020, up 51% over one year. On the market since 2015, the subsidiary of the eponymous Burkinabé group thus wins the pawn at Banque Atlantique (289.25 billion, + 10% compared to 2019), at the Togolese Bank for Trade and Industry (BTCI, 264, 43 billion, + 22%), and to the Togolese Banking Union (UTB, 284.19 billion, + 22%), becoming the 3rd Togolese bank behind Orabank, solid leader with a total balance sheet of 710.89 billion in progression annual rate of 13%, and…

Mauritius Commercial Bank (MCB) and Bank of Kigali signed on July 26, 2021, a loan facility of $ 20 million primarily intended to finance general business projects of the Rwandan bank. “This 20 million USD term loan from Mauritius Commercial Bank Limited will increase the liquidity of Bank of Kigali and support our efforts to finance the economic recovery of our clients who have been affected by the Covid-19 pandemic, in particular the small and medium-sized enterprises, ”said Dr Diane Karusisi, CEO of Bank of Kigali. In turn, Alain Law Min, CEO of MCB Ltd, said he was “convinced” that…

At a press conference on July 28, 2021 in Kinshasa, Minister Nicolas Kazadi of Finance of the Democratic Republic of Congo (DRC) indicated that the country is waiting for other economic partners after the resumption of the program with the International Monetary Fund (IMF), which gives a strong signal to the economic world that the DRC is pursuing the international standards accepted by all, after the finalization of the discussions held between April and July 2021. Under this three-year program running from 2021 to 2024, Kinshasa should benefit from a global envelope of 1.52 billion USD, the first immediate disbursement…

Burundi’s economy is expected to rebound to around 2% in 2021 after contracting 1% in 2020, according to data from the International Monetary Fund (IMF). This recovery will be supported by renewed activity in the secondary and tertiary sectors, according to forecasts which condition it to the resolution of supply chain problems. According to the IMF, the slowdown in the Burundian economy as a result of the hardest-hit tertiary sector – due to travel restrictions and supply chain disruptions in trading partner countries – has been mitigated by growth in sectors such as subsistence agriculture and construction of public infrastructure…

The Secretary General of the African Continental Free Trade Area (Zlecaf), Wamkele Mené, congratulated the work of the Ivorian national committee headed by Fatoumata Fofana, this Tuesday, July 27, during a visit to the premises of the Ivorian representation in Abidjan. For Wamkele Mené, Côte d’Ivoire is on the right track in the context of the implementation of this regional integration instrument. A consequence, according to him, of the actions carried out by the national executive secretary and her team. Namely the promotion of the agreement at the national level, the contribution to the development of national strategies, the contribution…

The balance sheet total of credit institutions in the West African Monetary Union (WAMU) recorded an increase of CFAF 6,159.3 billion (€ 9.238 billion) as of December 31, 2020 compared to the same period of 2019, according to the report of the Banking Commission based in Abidjan. This balance sheet total stood at CFAF 47,718.5 billion against CFAF 41,258.6 billion as of December 31, 2019, an increase of 14.8% year-on-year. According to the Banking Commission, this development has been observed in all the banking centers of the UMOA. By country and in order of importance, the strongest increases were observed…

Bolloré Transports & Logistics Côte d’Ivoire, a subsidiary of the French multinational of the same name, will pay its shareholders on August 11, 2021, for fiscal year 2020 as in 2019, an overall net dividend of FCFA 5.443 billion ( 8.165 million euros), announced the leaders of this Abidjan-based company. Compared to the 54,435,300 shares that make up the company’s share capital, the net dividend per share amounts to 100 FCFA as in 2019. The dividend that will be paid represents 50% of the par value of the share which is 200 FCFA. Bolloré Transports & Logistics Côte d’Ivoire achieved…

The international rating agency Fitch Ratings once again assigns a triple A rating to the African Development Bank (AfDB) with a stable outlook. A note which confirms the financial strength of the Pan-African bank, reinforced by the unwavering support of shareholders, but also the issuance of its five-year bond loan of 2.75 billion dollars. “The African Development Bank welcomes the fact that Fitch has confirmed its AAA rating, with a stable outlook, despite the enormous challenges posed by the Covid-19 pandemic. The Bank will continue to strengthen its fiscal policy and relevance in support of African countries facing the global…

Amen Bank, Tunisia’s second private bank, published its financial results at the end of the first half of 2021. It shows that the net banking income recorded an increase of 19.5% to 222.2 million dinars (80 million USD). compared to the end of June 2020. Regarding banking operating expenses, they recorded a decrease of 34.3 million dinars (12.3 million USD), from 240.7 million dinars (87 million USD) during the first half of 2020 to 206 , 4 million dinars (74 million USD) for the same period of 2021. Customer loans, net of provisions and reserved agios, increased from 5,849.1 million…

After ten years of enmity, former President Laurent Gbagbo and his successor Alassane Ouattara actually met on the afternoon of Tuesday, July 27 at the Ivorian Presidency Palace. The Palace of the Ivorian presidency in Abidjan indeed experienced a rather special atmosphere on July 27 at the end of the afternoon. As announced on Wednesday, July 21 by the government spokesperson, President Alassane Ouattara and his predecessor Laurent Gbagbo did indeed meet. The two leaders thus broke the wall of ice which had been erected between them after the violent post-electoral crisis of 2010. A crisis which ended in the…

A new general manager has been appointed to head the mobile operator Orange-Cameroon, in this case the Beninese Patrick Benon who until then held the same functions in Botswana. He succeeds Frenchman Frédéric Debord appointed CEO of Orange Madagascar, replacing Michel Degland transferred to Mauritius Telecom. “These appointments are part of the Group’s international mobility policy and occur, for each of them, at the end of the term of office of the outgoing. These appointments will all be effective in September 2021, “the company said in a statement following the board meeting held on July 27, 2021, in Casablanca, Morocco.…

Rwandan authorities have approved the KCB group’s deal for the takeover of Banque Populaire du Rwanda (BPR) from London-listed financial services company Atlas Mara Limited. Atlas Mara indicates that it has obtained authorizations to sell its banks in Rwanda and Botswana. The company is also awaiting approvals from Tanzania where KCB Group is seeking to acquire African Banking Corporation Tanzania (BancABC). KCB Group announced last November that it had signed an agreement with Atlas Mara to buy 62% of the capital of BPR and 100% of the capital of BancABC. “The company has obtained regulatory approval for transactions regarding its…

A year and a half after the outbreak of the pandemic, Africa is doing better than resisting the Coronavirus. Until then, the slaughter predicted, or at least announced by Westerners, has not yet taken place, much to the surprise of those who read crystal balls and are now guessing. But should we say that Africans are naturally immune so as not to fear a human disaster? It would be irresponsible if, as long as the disease not only claims many victims on a daily basis, official statistics are certainly underestimated in view of the difficulties encountered in accessing real data.…

Introduced a few days earlier by his lawyers, the request for provisional release of the former Beninese minister, Reckya Madougou, in pretrial detention since last March for “financing of terrorism”, was rejected on July 16, 2021 by the Court of repression of economic crimes and terrorism (CRIET). Two reasons were mentioned in his order by the President of the Chamber of Freedoms and Detention. According to Edibayo Joanna Dassoundo, the charges against the accused are serious. Moreover, she says, Reckya Madougou and her co-defendants have only been questioned once and the various statements require further questioning and even confrontation. First…

Affected by the rationing of electricity which ended at the beginning of July not without having affected the performance of several companies, the Ivorian economy, which quickly recovered, risks being again weakened by the economic situation. from China. The world’s largest producer of electricity in 2019 (27.8% of the world total), the Middle Kingdom is experiencing an unprecedented crisis in the sector. Extreme temperature conditions have increased the need in some areas for electricity for air conditioning and refrigeration use. While the People’s Republic of China has decided to limit the production of coal plants, which also produce electricity, for…