Author: Albert Savana

Originally scheduled for June 21 in Kigali, the Commonwealth summit was postponed to a later date due to the Covid19 pandemic, but the principle of Gabon’s membership in this organization remains more relevant than ever. Alongside Mozambique and Rwanda, the symbolic country of Françafrique for decades will be the third non-French speaking member to sit...

British oil and gas group British Petroleum (BP) is in talks with Eni to sell its assets in Algeria, sources familiar with the matter reported on Wednesday (June 2nd). According to Reuters, the British major simply intends to get rid of its Algerian assets, but does not rule out participating in other assets of the Italian group in other countries. This decision is part of the reduction of the oil and gas portfolios of the main European energy companies. They want to keep only those assets that are most likely to be profitable and redeploy capital for a clean energy…

Societe Generale Côte d’Ivoire (SGCI), a subsidiary of the French banking group of the same name, will pay its shareholders on June 30, 2021, for the 2020 financial year, an overall net dividend of 11.458 billion FCFA (17.187 million d ‘euros), announced the leaders of this banking establishment based in Abidjan. This corresponds to a...

The employees of Bolloré Transport & Logistics Cameroon, with the support of their general management, offered on Friday May 28, 2021 tables benches, teaching material and also rehabilitated the ceilings of the classrooms of the public school of Koussam, locality located near Foumban in the West region. The renovation work carried out will allow students to follow their schooling in a secure and comfortable environment. “The Koussam public school, established in the 1960s, was in a dilapidated state when the renovation project began. Thanks to this donation, we will be able to provide students with appropriate school support as well…

Atlantique Assurance Vie, a subsidiary of the Moroccan group BCP, signed a partnership agreement with the Lataha de Korhogo school group for the improvement of the living environment of students in this locality in northern Côte d’Ivoire. At the initiative of Atlantique Assurance Vie, a subsidiary of Atlantic Business International (ABI), a sub-Saharan holding company of the Moroccan group Banque Centrale Populaire, the students of the Lataha school group in the Korhogo region located in the north of Côte d’Ivoire will now be able to learn in a decent setting. The insurance company and the school group have in fact…

Abidjan will host, from June 8 to 11, the first virtual world summit on rubber. As a prelude to these meetings, the players in the sector hosted a press conference on Tuesday, June 1. “Facing the Future: Inclusiveness, Sustainability and Growth for the New Normal.” This is the theme of the first virtual world summit on Rubber, initiated by the international rubber study group (IRSG), which will be held from June 8 to 11, 2021 in Abidjan, the Ivorian economic capital. As a prelude to this meeting which will bring together the entire global value chain of natural rubber and…

Tunisian Tunisian expert Kamel Ben Naceur CEO of Nomadia Energy Consulting based in Abu Dhabi, has just been recruited as a senior advisor by the Mauritanian Ministry of Petroleum, Energy and Mines. The former Tunisian Minister of Mines pockets 150,000 USD and has twelve months to fulfill his contract. Ben Naceur is the 5th Tunisian to be recruited as part of the Project to Support the Negotiations of Gas Projects and Institutional Capacity Building in Mauritania (PADG) initiated following the discovery of the GTA gas field straddling the country and Senegal neighbor and financed by the World Bank. The former…

It is not yet the escalation between Chad and the Central African Republic. Maybe there won’t be. But the tension that has long simmered under ashes has taken on growing proportions since May 30, 2021 following an “unfortunate misunderstanding” between the armies of the two countries. This clash, which caused both sides to lose life, rekindled the tension, since Chad, which said it was “attacked”, promised reprisals, while the Central African government pleaded for a peaceful solution “for do not agree with our common enemies ”. According to our information, it is established that beyond this clash, the two armies…

Lori Systems, the main e-logistics platform in Africa, announced on Tuesday, June 1, that it has appointed Uche Ogboi as Chief Executive Officer. “As CEO, I am committed to continuing to implement our vision and to evolve the platform into new markets,” said Uche Ogboi, adding “that she will do everything possible to put the structure in a dynamic of sustainable growth ”. For his part, Mengqiu Wang, a member of the group’s board of directors, stressed that the company can count on the expertise of the new CEO to succeed in the missions assigned to her. Prior to joining…

Received on May 31, 2021 at the Prime Minister’s Office, a delegation from the Congolese Banking Association (ACB) presented a check for USD 500,000 to Prime Minister Jean-Michel Sama Lukonde Kyenge, intended to help the affected populations of Goma, a city located in the east of the country, following the enormous human and material damage caused by the eruption of the Nyiragongo volcano. Estimates available to date point to around 450,000 people having fled the city and in need of urgent humanitarian assistance. Nearly 120,000 of them arrived in the nearby town of Sake, while around 8,000 people crossed the…

As part of the boosting of intra-community trade within the WAEMU area, the Network of Trade Promotion Bodies of WAEMU Member States (ROPC / UEMOA) chaired by Mr. Guy M’BENGUE, has just held, with Business France, its technical partner and under the aegis of the Commission of the West African Economic and Monetary Union (UEMOA) and the French Embassy in Burkina Faso, Focal Point of French Cooperation in West Africa , the 1st meeting of the Regional Steering Committee of the International African Talents System (TAI). The opening ceremony of this meeting was chaired by Professor Filiga Michel SAWADOGO, Commissioner…

The food production of the West African Economic and Monetary Union (UEMOA) is estimated at 69.675 million tonnes for the 2020/2021 season, according to the 2020 annual report of the Central Bank of West African States (BCEAO ) based in Dakar. Compared to the 2019/2020 campaign, this food production has increased by 5.1%. According to the Emission Institute, this development is mainly driven by tubers (+ 3.9%) and cereals (+ 3.8%). Production of other crops (legumes, horticultural plants, fruits, etc.) increased by 10.0%. It must be said that the 2020/2021 agricultural campaign benefited, from a climatic point of view, from…

The National Bank for Economic Development (BNDE) has just unveiled its new visual identity. With more expressive colors that anchor the bank in its universal character, the financing of SMEs, agri-business and the real economy in general. Unveiling the bank’s new colors on May 27, the institution’s chief executive, Thierno Seydou Nourou Sy, said the bank is working on an ongoing 2021 stimulus plan to support strategic sectors. “We intend to put in place investment conditions and promote industrial units which aim to produce locally,” said Thierno Seydou Nourou Sy. BNDE thus reaffirms its desire to support the cashew sector,…

The Caisse Régionale of Refinancement Hypothécaire (CRRH-UEMOA) held its 10th Ordinary General Assembly on Friday April 30, 2021, by videoconference, under the Chairmanship of Mr. Younoussi TOURE, Chairman of its Board of Directors. The Ordinary General Assembly (AGO) approved the accounts of CRRH-UEMOA for the 2020 financial year with a net profit of 1,308 MFCFA, an increase of + 5.2% compared to the achieved result of 1,243 MFCFA in 2019. The Shareholders’ Meeting decided to allocate all of this result to reserves and retained earnings. The Ordinary General Assembly also ratified the co-option of Ms. Yedau OGOUNDELE as Independent Director…

According to the committee set up to prepare for Laurent Gbagbo’s return to Côte d’Ivoire, the former Ivorian president is announced in Abidjan on June 17, 2021. Ten years after his arrest and transfer to the jails of the International Criminal Court (ICC) in The Hague, former Ivorian President Laurent Gbagbo is announced in Abidjan on June 17th. The information was given by Dr Assoa Adou, Secretary General of the branch of the Front Populaire Ivoirien (FPI) who remained faithful to the former head of state, this Monday, May 31, on the occasion of a ceremony organized by the supporters…

It will be necessary to arm ourselves with patience for the realization of the cross-border iron ore mining project that the two countries intend to develop together, respectively in Mbalam in Cameroon and in Nabeba in Congo. Six months after the decision of the “historic partner” the Australian multinational Sundance Resources to terminate the contract with the Chinese firm AusSino after two years of fruitless negotiations, the Cameroonian and Congolese authorities have confirmed the steps underway to find new investors. . According to sources familiar with the matter, there is talk within a “reasonable time” of reaching an agreement with…

Following the eruption of the Nyiragongo volcano on May 22, 2021 in the immediate vicinity of the city of Goma (eastern DR Congo), the European Union has announced that it will disburse an additional 2 million euros for the benefit of disaster victims. This funding is in addition to the 180,000 euros released last week to support the Congolese Red Cross as part of efforts to restore electricity in Goma, announced on Saturday May 29, the Commissioner in charge of crisis management. , Janez Lenarčič. “Although the situation remains fluid and the extent of the damage is not yet known,…

The Democratic Republic of the Congo and Uganda signed two agreements on May 27, 2021 under which they will finance the construction of an interconnection road with 334.5 million USD, in order to strengthen their bilateral trade. Within this overall cost, Uganda’s contribution is set at 20% of the total budget. Ugandan exports to the DRC are generally sugar, rice, beer, wheat flour, cookies, cosmetics, among others. Those from the DRC concern iron, pearls, mineral fuels, wood, charcoal, rubber, etc. On behalf of their respective countries, Ugandan President Yoweri Museveni and the Congolese delegation made up of Deputy Prime Minister…

&M Bank (Rwanda) Plc announced this weekend that it made an after-tax profit of 1.6 billion Rwandan francs (1.6 billion USD) in the first quarter of 2021. “Despite a difficult context caused by the coronavirus pandemic, the bank has shown resilience. Given the dynamics we are seeing in the economic recovery and vaccine delivery, we are starting to see a slow return to normal, ”said Robin Bairstow, Managing Director of I&M Bank Rwanda. The official added that “on the Bank’s side, a review of our results shows positive performance on all key financial indicators, highlighting the good momentum with which…

The after-tax profit of the company Total Senegal, a subsidiary of the multinational of the same name, increased by 4% at the end of the 2020 financial year compared to that of 2019, announced the leaders of this Dakar-based company. This profit stood at 6.063 billion FCFA against 5.827 billion FCFA at the end of the 2019 financial year, an increase of 236 million FCFA. The managers of this hydrocarbon distribution company explain this performance despite the decline in sales by a number of factors. They put forward the fact that the 2019 result was reduced by the payment of…

Raise its market capitalization to 70% of Morocco’s GDP by 2025 by increasing the number of listed companies from 76 in 2019 to 300 in 2035. These are the major objectives posted about the Casablanca Stock Exchange (BVC ) in Morocco’s “New Development Plan”. In 2019, the market capitalization of the Moroccan financial center, of...

The Prize will be awarded this Monday, May 31 at 6 p.m., in the auditorium of Le Monde, in the presence of the winner Xavier Jaravel and the nominees Aurélie Ouss, Vincent Pons and Josselin Thuilliez. This ceremony can be followed live on LeMonde.fr, lecercledeseconomistes.fr and on the Youtube and Facebook accounts of the Cercle des economistes. The ambition of the Best Young Economist Prize is to recognize not only the excellence of the academic production of young French economists, but also their contribution to the public debate in terms of economic policy or decision-making among private or public actors,…

The Bank of Central African States (BEAC) announced, in a press release dated May 26, 2021 and published on its website on the 28th, that the securities of “La Régionale d’épargne et de crédit” are officially admitted to CEMAC’s single central depository (DCU) operations from May 20, for a total amount issued of CFAF 2.588 billion (nearly USD 5 million). This amount represents 61,630 shares, according to the issuing institute, which is also the sole central depository of securities of the Economic and Monetary Community of Central Africa (CEMAC). The announcement, according to the press release signed by Dieudonné Evou…

Cairo/Abuja, 31 May 2021: – African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have announced a US$750,000 grant to support the charting of the main channel of the Niger-Benue river in Nigeria, as part of the Regional Sealink Project, which aims to bridge the gap in maritime transport infrastructure and improve trade connectivity in West Africa. Afreximbank provided a grant of US$350,000 to supplement the US$450,000 made available by NEXIM, thus completing the financing of the barthymetric survey and hydrograhic and hydrological studies of the lower Niger-Benue river. The studies will be undertaken under a joint collaboration framework between the Nigerian…

Asky airline announced in a statement released on May 27, 2021, the appointment of Ethiopian Tasew Mesfin as chief executive. Until then Director of Operations of Ethiopian Airlines, he succeeds his compatriot Ahadu Simachew in post since 2017. Crowned with 37 years of experience at Ethiopian Airlines – a strategic partner of the Asky company in which it holds 40% of the capital – Mesfin Tasew takes the reins of the company in a context still marked by the Covid-19 pandemic. “In view of his rich and eloquent career, we are convinced that Asky will have everything to gain,” said…

The shareholders of Banque Atlantique Côte d’Ivoire met in an ordinary general meeting on May 25, 2021 in Abidjan, to review the 2020 financial year of this subsidiary of the Moroccan group BCP. After congratulating themselves on the bank’s achievements over the period under review, marked by a net profit of CFAF 26.189 billion, the shareholders, satisfied with “good performance and resilience”, approved all the draft resolutions that were submitted to them. The general meeting of shareholders was held under the chairmanship of Habib Koné, Managing Director of Atlantic Business International, representing the Chairman of the Board of Directors. Present…

The heads of state and government of the Economic Community of West African States (ECOWAS), held an extraordinary summit on the political situation in Mali on May 30, 2021, in Accra, Ghana. The Extraordinary Summit was convened to take stock of the socio-political crisis prevailing in Mali following the arrest, detention and subsequent resignations of the President and Prime Minister of the transition on May 26, 2021. At the end of the work, the Heads of State strongly condemn this recent coup, which is a violation of the decisions taken at the extraordinary summit held at the Peduase Lodge, Aburi,…

The Moroccan banking group Attijariwafa bank through its brokerage firm Attijari Securities Central Africa (ASCA) is the arranger of the second bond loan of the lender Alios Finance Cameroon. This operation, the main characteristics of which have not yet been published, will take place under the auspices of the Central African Securities Exchange (BVMAC). According to sources, Alios Finance, the leader in leasing in Cameroon and the sub-region, is about to strengthen its portfolio which is based on strategic development aimed at extending its activities in the region, in particular the conquest of the West African market. Financial institution specializing…

Gabon has chosen to resort to sub-regional savings in order to mobilize the necessary funds with a view to reviving its economy hard hit by the health pandemic linked to the coronavirus. Called “EOG 6% Net 2021-2026”, the bond issue launched on May 27, 2021 by the Gabonese government and open to all countries of the Central African Economic and Monetary Community (CEMAC) aims to mobilize 175 billion CFA francs ($ 325 million) to support both the post-Covid production tool and the clearance of domestic debt. This post-Covid recovery involves the payment of the domestic debt after verification and validation…

A crucial meeting on Mali is scheduled today in Accra, capital of Ghana. The leaders of the Economic Community of West African States (ECOWAS) will hear Colonel Assimi Goita, a strong man from Mali, dubbed by the Constitutional Court as interim president. The perpetrator of two coups d’état in the space of nine months was...